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Revenue of the Georgian Water & Power Company up

Finance Materials 1 September 2020 17:11
Revenue of the Georgian Water & Power Company up

BAKU, Azerbaijan, Sep.1

By Tamilla Mammadova – Trend:

The revenue of the Georgian Water & Power Company (GWP) company in 2019 increased by 2 million lari ($653,693) year-on-year and reached 124 million lari ($40.5 million), Trend reports via GWP.

As reported, the total income of GWP increased by 15.5 million lari ($5.06 million) and amounted to 144.9 million lari ($47.3 million).

In 2019, the company received a net profit of 35.2 million lari ($11.5 million), which is 6 million lari ($1.9 million) more than in 2018.

As for the main expenses, the company's expenses for salaries are 18.3 million lari ($5.9 million), for electricity - 12 million lari ($3.9 million), depreciation and amortization - 25.7 million lari ($8.3 million), other operating expenses - 17 million lari ($5.5 million).

The financial report shows that the company's revenue growth is mainly due to the sale of electricity. In particular, the income from the sale of electricity in 2019 amounted to 19 million lari ($6.2 million), and in 2018 this figure was 6 million lari ($1.9 million).

In certain areas, the company's revenue is distributed as follows:

Proceeds from the supply of drinking water to legal entities - 83 million lari ($27.1 million);
Revenue from the supply of water to individuals - 36.8 million lari ($12.02 million);
The cost of the network connection service is 3.4 million lari ($1.1 million).

Georgian Water and Power is a leading company on the water supply market of Georgia and South Caucasus. The company provides high quality service to the population of Tbilisi, as well as to state organisations, industrial and commercial objects.

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