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Company “Teliani Valley” finished Financial Year 2015 with a Loss

Company “Teliani Valley” finished Financial Year 2015 with a Loss

As of the financial report of JSC “Teliani Valley”  and subsidiary companies, the loss is related to Ukraine crisis and exchange rate change.

The group has sold products of 29,5 million GEL in the previous year (2014 – 30,77 million), gross profit has made up 14.3 million GEL (2014, 16.2 million), operating profit is decreased from 4.3 million to 2.7 million. At that, net loss gained from foreign currency transfer has exceeded 2,3 million.

Profit and Loss Statement (income statement) shows that net loss has been 1,2 million GEL in the previous year. The company had income of 1,76 million in 2014.

It should be noted, that assets have been increased to the group up to 40,64 million (2014 – 37,87 million), total liabilities – 22,5 million.

As of December 31, 2015, the subsidiaries of “Teliani Valley” are: LLC “Teliani Trading”, – 100%; LLC “Teliani Trading Ukraine” – 100%; LLC “Global Buyer Georgia” – 100%; LLC “Le Caucasus” – 100%; LLC “Kupa” – 70%.

The shareholders are JSC “Liberty Consumer” – 50.23%; BGEO – 20.47%; “Salink Limited” – 17.54%; LLC “Firebird Aurora Fund” – 14,21%; LLC “Firebird Republics Fund” – 8.82% and others – 6.26%.

BGEO Group is the controlling shareholder of the group.

Source: Georgian Business Consulting