11.Feb .2021 11:30

How much revenue does PSP, Aversi and GPC have?

How much revenue does PSP, Aversi and GPC have?
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Georgian pharmaceutical sector became more important for the citizens in 2020, as the purchase of sanitary means was the responsibility of every citizen amid pandemic. Due to such a sharp increase in demand for personal protective equipment, their value has tripled in Georgia, as well as around the world.

Georgian pharmacy market has three main players: PSP, Aversi and GPC / Pharmadepot. The companies have not yet submitted their financial results for 2020, but information on their 2019 revenues is public.

At present, GPC has the largest pharmacy chain, which operates 296 drug stores across the country. Aversi ranks the 2nd with 268 drug stores, while PSP is on 3rd place with 235 drug stores. In addition to drug stores, these companies are also widely engaged in the wholesale market of pharmaceutical products and they provide various clinics and serve state orders.

According to the financial report, the total revenue of all three companies in 2019 was 1.5 billion GEL. Among them, GPC is on the first place in terms of sales volume and net profit.

1. "GPC / Pharmadepot" - revenue of 611.8 million GEL, net profit of 51.6 million GEL in 2019;
2. "PSP" – revenue of 499.6 million GEL, net profit of 26.3 million GEL in 2019;
3. "Aversi" – revenue of 335.5 million GEL, net profit of 3.1 million GEL in 2019.

Pharmacy chains use a system of discount cards to attract their customers. According to the report, a total of 1.6 million cards have been issued under the Aversi loyalty program, while GPC card has 768 thousand users.

The main expenditure for each pharmacy chain is the purchase of supplies. In 2019, the initial cost of the sold products by GPC was 456 million GEL, PSP - 380 million GEL, Aversi - 262 million GEL.

In recent years, sales of personal care and cosmetics have a growing trend for pharmacy chains. For example, the revenue of GPC network in the field of cosmetics and perfumes amounted to 143 million GEL in 2019.