22.Dec .2021 16:00

Chkhartishvili’s Smart Capital Group Gained Revenue Of GEL 108 MLN

Chkhartishvili’s Smart Capital Group Gained Revenue Of GEL 108 MLN
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Holding "Smart Capital Group" has published its financial report for 2020. Businessman Ivane Chkhartishvili holds 51% of the control stake in the company, while the remaining 49% is distributed to his children.

According to the financial report, the income of "Smart Capital Group" last year was GEL 108.1 million, and the company's net profit amounted to GEL 16.7 million.

Smart Capital Group's revenue comes mainly from the sale of tobacco and alcoholic products. The group owns Tbilisi Tobacco, which is presented on the market under the brand Pirveli. Along with Tbilisi Tobacco, Smart Capital also owns its distribution company, Geodistribution.

As for the alcoholic products, Ivane Chkhartishvili’s Holding owns Telavi Distillery, as well as Georgian Vine and Wine Company. The company produces over 7 million bottles of wine a year at the Shilda winery.

The operating income of the company is distributed as follows:

● Revenue from the sale of tobacco products - GEL 96.9 million;
● Revenue from fuel transportation service - GEL 5.8 million;
● Income from the sale of wine products - GEL 4 million;
● Other income - GEL 1.4 million;
●Total - 108.1 million GEL.

The initial cost of the sold product totaled to GEL 80.9 million. The general and administrative expenses of the company amounted to GEL 15.1 million, while the financial expenses were GEL 2.7 million. Company assets total 106 million, while liabilities - 59.8 million.