Fitch Ratings forecasts that the State Oil Company of Azerbaijan (SOCAR) will have a gross revenue of nearly $45.94 billion in 2025, SİA informs.
SOCAR's earnings before interest, taxes, depreciation, and amortization (EBITDA) is expected to be at $3.32 billion.
"Favorable oil and gas prices have strengthened the financial profile of SOCAR," Fitch notes.
According to the agency's assessment, the company's revenue for 2024 will amount to $50.61 billion, with an operating EBITDA of $3.54 billion.
Also, EBITDA margin (ratio of pre-deduction profit to revenue) is expected to increase from 7% in 2024 to 7.2% in 2025.
According to Fitch, SOCAR’s high profitability compared to Central Asian peers (KazMunayGaz and Uzbekneftgaz) is associated with its relatively large trading operations.
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