According to the audited financial report prepared by PWC, Georgian confectionery manufacturer Barambo has received revenue of 48.5 million GEL in 2019, which is 3 million GEL more comparing to 2018.
However, the company had ended 2019 with a loss of 1 million GEL instead of profit. For comparison, profit of Barambo has made up 2.15 million GEL in 2018.
The sales of "Barambo" products in 2019 were as follows:
• Revenue from sales on the local market - GEL 45.2 million, an increase of 8.7% over the previous year;
• Revenue from export sales - 3.3 million GEL, a decrease of 13.6% over the previous year.
According to the financial report, the main expenses of the company were related to the purchase of raw materials, for which "Barambo" spent 28.9 million GEL. In second place were the salaries of employees, which amounted to 3.15 million GEL, electricity and utility costs - 1.26 million GEL, and depreciation costs - 1.22 million GEL.
The company spent 4.4 million GEL on product marketing and distribution in 2019.
As of 2019, the company's assets amounted to GEL 67.9 million.
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