Monday, 27, June, 2022

The State Assets Management Agency published the findings of the analysis of the financial statements of Uzbek enterprises with a state's stake.

Currently, the number of companies with a state's stake stands at 2,117 (227 joint-stock companies, 1,075 limited liability companies and 815 state unitary enterprises), including 347 inactive enterprises  or subject to liquidation sold on an installment plan. The function of a shareholder (participant, founder) on behalf of the state in the above enterprises is performed by more than 70 ministries and departments, local authorities.

Based on the analysis of financial statements for 2021, a list of the 20 most profitable and 20 most unprofitable enterprises, as well as 10 companies with the largest dividends paid on the state's share (including interim dividends and debts of previous years) was formed.

The company with the largest net profit and dividends was the Navoi Mining and Metallurgical Combine (NMMC), and the company with the largest losses was Uztransgaz (the company suffered the largest losses last year).

Enterprises with the most dividends paid for the state’s stake:

  1. Navoi Mining and Metallurgical Plant - 9.95 trillion soums;
  2. Almalyk Mining and Metallurgical Plant - 2.44 trillion soums;
  3. Uzbekneftegaz - 240.5 billion soums;
  4. Uzbek Metallurgical Plant - 131.3 billion soums;
  5. Ferganaazot - 104 billion soums;
  6. Fergana Oil Refinery - 91 billion soums;
  7. Uzavtosanoat - 80.2 billion soums;
  8. State Unitary Enterprise Poytakht qurilish va hizmat (Hyatt regency hotel) - 45.2 billion soums;
  9. Thermal Electric Networks - 40.2 billion soums;
  10. Agrocluster - 38.6 billion soums.

Companies with the highest profits:

  1. NMMC - 10.64 trillion soums;
  2. AMMC - 5.36 trillion soums (in 2020 - 3.94 trillion soums);
  3. Uzbekneftegaz - 3.34 trillion soums (3.43 trillion soums);
  4. Uzmetkombinat - 1.47 trillion soums (218.5 billion soums);
  5. Navoiazot - 779.8 billion soums;
  6. Uzbektelecom - 473.9 billion soums (69.7 billion soums);
  7. Regional Electric Networks - 400.3 billion soums;
  8. Ferganaazot - 348.8 billion soums (292.6 billion soums);
  9. Agrocluster - 194.8 billion soums (82.9 billion soums);
  10. UzEX - 140.1 billion soums (94.8 billion soums);
  11. Uzaernavigatsia - 96.9 billion soums;
  12. Universal mobile system (mobile operator Mobiuz) - 96.5 billion soums;
  13. Uzbek-Oman Investment Company - 85.1 billion soums (86.4 billion soums);
  14. Uzbekistan Airways - 53.8 billion soums (losses - 755.7 billion soums);
  15. Uzkimyosanoat - 53.4 billion soums;
  16. Uzbekgeofizika (51.4 billion soums);
  17. Uzshahar Qurilish Invest - 50.5 billion soums;
  18. State Institute of Urban Cadastre - 32.9 billion soums;
  19. Dori-Darmon - 32.7 billion soums (53.8 billion soums);
  20. Central Asia Megastar - 24.7 billion soums.

Companies with the most losses:

  1. Uztransgaz - 2.51 trillion soums (in 2020 - 3.57 trillion soums);
  2. National Electric Networks - 2.1 trillion soums;
  3. Tashissiqenergo - 534.3 billion soums (605.2 billion soums);
  4. Yangi-Angren TPP - 304 billion soums (245.6 billion soums);
  5. Toshshahartranskhizmat - 127.6 billion soums;
  6. Angren TPP - 87.6 billion soums (177.7 billion soums);
  7. Angren Shahar Issiqlik Energiasi Korkhonasi - 68.3 billion soums (54.6 billion soums);
  8. Toshkent Issiqlik Markazi - 53.6 billion soums;
  9. Uzavtotrans service - 51.5 billion soums;
  10. FC Bunyodkor - 37 billion soums;
  11. FC Pakhtakor - 30.3 billion soums (82.7 billion soums);
  12. Chirchik Issiqlik Energiasi Ishlab Chiqarish Korkhonasi - 27.2 billion soums;
  13. Tashkent Metro - 24.7 billion soums;
  14. Olmalik Issiq Manbai - 19.9 billion soums;
  15. Toshkent region issiqlik manbai ishlab chiqarish boshqarmasi - 17.8 billion soums;
  16. Uzsuvtaminot - 15.7 billion soums;
  17. Kirguli Issiqlik Manbai - 13.1 billion soums;
  18. Surkhonozikovkatsanoati - 11.1 billion soums;
  19. Interhotel - 10.9 billion soums;
  20. Issiqlik Manbai - 8.9 billion soums.

It is worth noting that in 2019, the Angren TPP and Yangi-Angren TPP were transferred to the trust management of the Kazakh company Mining Works (which has set up Central Asia Energy in Tashkent) for three years. Some media reported that the management is in the SFI Management Group. Both companies are represented on the Supervisory Boards of Angren TPP and Yangi-Angren TPP.

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