KTW REVENUES INCREASED UP TO 105 MILLION GEL IN 2019

KTW REVENUES INCREASED UP TO 105 MILLION GEL IN 2019

Kakhetian Traditional Winemaking (KTW) published financial report of 2019. According to the document, company’s sales exceeded 100 million GEL and amounted to 105.2 million GEL.

The report reveals that major part of KTW products is for export.

However, the company’s results by segments are as follows:

• Earnings from export – 93 million GEL, increase of 27.5% y-o-y;
• Earnings from wholesales on the local market – 3.13 million GEL, decrease of 22% y-o-y;
• Earnings from retail sales on the local market – 3.16 million GEL, increase of 5.7% y-o-y
• Earnings from hotel, restaurant and other related services – 3.88 million GEL, increase of 17% y-o-y;
• Earnings from the sale of canned fruit – 2.05 million GEL, increase of 72% y-o-y.

According to the financial report of the company, KTW finished 2019 with a net profit of 22.6 million.

The report shows that the total cost of goods sold by the company last year was 63.5 million GEL, administrative expenses were 8.3 million GEL, of which 1.6 million GEL were spent on the salaries and 1.2 million GEL were vineyard maintenance expenses.

The document shows that the group borrowed GEL 60.1 million in 2020, which was used to purchase fixed assets.
According to the document, Kakhetian Traditional Winemaking (KTW) owns more than 10 subsidiary companies and 100% stake holder is businessman Zurab Chkhaidze.

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