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TELASI Records Major Rise in Profits over Past 5 Years

Over the past 5 years JSC TELASI recorded a major rise in profits. In 2016 the company’s net profits marked 38.8 million GEL.

In 2015 the figure totaled 6.5 million GEL, in 2014 – 27 million GEL, in 2013 – the company losses made up 37.8 million GEL, while in 2012 the company profits constituted 24 million GEL.

In 2016 the company proceeds exceeded 395 million GEL (+26%), up from 313 million GEL in 2015.

We remind you that Inter RAO structures Silk Road Holdings B.V. and Gardabani Holdings B.V. own 75% stake in TELASI and 100% stakes in Khrami 1 and Khrami 2 HPPs.

Inter RAO has launched investment dispute against Government of Georgia for compensating losses after GEL exchange rate depreciation.

The company’s obligations to creditors declined in 2016: 1. Silk Road Holdings B.V. debts rose by 1 679 000 GEL, mainly after GEL exchange rate depreciation; 2. the company paid 9 842 000 GEL debt to LLC Mtkvari Energetika;