AzerGold Closed Joint-Stock Company (CJSC) aims to increase its annual turnover to AZN 1 billion by 2030, Zakir Ibrahimov, Chairman of the Board of AzerGold CJSC, said at a meeting dedicated to the State Program on the development of the mining and metallurgical industry, attended by President Ilham Aliyev, APA reports.
According to him, for this purpose, priority will be given to the use of internal revenues, borrowed funds, and private investments to finance strategic projects.
"Our main goal is to turn AzerGold into one of the largest companies in Azerbaijan's non-oil industry in terms of revenue and employment indicators," Zakir Ibrahimov noted.
According to him, the company's gold production, revenues, EBITDA, and tax payments have steadily increased throughout its operations.
"Gold production has more than doubled compared to 2017. Revenues have increased 3.5 times. Exports account for 92% of total revenues, while sales in the domestic market account for 8%," the Chairman of the Board stated.
He noted that the production of gold and silver products began in 2019, and domestic retail sales have become a source of added value.
According to Zakir Ibrahimov, the company's EBITDA increased from AZN 46 million in 2017 to AZN 260 million in 2025. This represents an approximately sixfold increase.
"The EBITDA margin has averaged over 50%. At the same time, the company's tax payments have increased 15 times," he added.
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