"Norm" OJSC shared the report on the audited financial results of 2023. The results show that the financial indicators of the company last year have increased significantly compared to the previous year.
Thus, the sales revenue of "Norm" OJSC increased by 11 % and reached 226 million AZN, while the total revenue increased by 21.1% and reached 109 million AZN. Operating profit increased by 8.1 million manats, i.e. 14.6 % to 63.5 million manats, and pre-tax profit increased by 31 % to 66.8 million manats.
Elvin Mirzayev, the Chief Financial Director of "Norm" OJSC, said that the company successfully continued its activities in 2023 and managed to increase both its income and net profit. He also noted that the company was one of the largest tax-paying enterprises in the country, having paid a high amount of profit tax last year - more than 14 million AZN.
The CEO of the company, Henning Sasse, emphasized that "Norm" OJSC successfully finished last year as the leader of the cement market: "We are currently aiming to expand in the building materials segment, and technical and economic justification of these projects is being prepared with international consultants. Also, this year our company joined the "Net Zero Accelerator" initiative with the members of the Azerbaijan Cement Manufacturers Association. Together with members of the association and the European Cement Research Academy (ECRA), we are actively working towards the development of a Net Zero Roadmap for reducing carbon emissions in the cement and concrete industry of Azerbaijan. Our goal is to finalize the Road Map and present it to the public at the COP29 event."
"Norm" OJSC is part of NEQSOL Holding, an international group of companies operating in energy, telecommunications, high technologies and construction fields in more than 10 countries.
