Fitch Ratings International Rating Agency has released its forecast for the financial performance of the State Oil Company of Azerbaijan (SOCAR) for 2025, APA-Economics reports citing the rating agency.
SOCAR's total revenue in 2025 is forecast to be 45.9 billion US dollars. This is 9.3% less than in 2024. Thus, the company's total revenue for 2024 is estimated at 50.6 billion dollars.
The company's operating profit (EBITDA - the ratio of earnings before interest and taxes to revenue) is forecast at 3.32 billion dollars, which is 6.2% less than last year. SOCAR's operating profit for 2024 is estimated at 3.54 billion dollars.
Fitch also noted that SOCAR's Individual Credit Profile (SCP) was upgraded from 'b+' to 'bb-' in October 2023 and the company's rating has not been changed yet.
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