Sarajishvili Ended Pandemic Year with a Net Profit of ₾8.7 Million

Although the company Sarajishvili ended the pandemic year with a profit of 8.7 million, the pandemic still has a significant affect on numbers. Net profit is reduced by 31.5% compared to 2019.

According to the company's report, Sarajishvili's annual revenues decreased by 19% and amounted to 35.7 million GEL.

Which is mainly related to the COVID-19 pandemic, although the decrease in revenue was due to the transfer of sales of some products to the subsidiary Geo Alco. The company was also negatively affected by the depreciation of the lari.

Loan liabilities increased by GEL 2.6 million during the reporting period, due to the adoption of preferential agro-credit for the purchase of grapes.

In 2020, the company became the owner of 50% of Sarajishvili Weiner & Distiller. The company invested GEL 8.2 million. The activity of the joint venture is to provide grape making and distillation services, wine production, bottling and sale are planned.

Sarajishvili produces about 60 products. 81% of the products are sold in export markets, while 19% in local markets. The company's export market covers 24 countries. By 2020, the four largest export markets were: Belarus, Russia, Ukraine and Kazakhstan. The total share of these countries was 91% of exports.