Gardabani Thermal Power Plant LLC closed 2024 with higher revenues and stable profitability, according to the company’s newly published financial report.
Electricity generation revenues reached 242.9 million GEL in 2024, up 26% compared to 192.5 million GEL in 2023.
Profit Performance
- Total profit: 107.9 million GEL (2023: 108.5 million GEL)
- Operating profit: 58.7 million GEL (2023: 64.9 million GEL)
- Net profit: 66.5 million GEL (2023: 71.3 million GEL)
Despite slightly lower profit margins, the company maintained overall financial stability.
Assets and Liabilities
At the end of 2024, the company’s assets stood at 419.9 million GEL, up from 395.9 million GEL in 2023.
- Capital: 377.1 million GEL
- Liabilities: 42.8 million GEL (2023: 85.2 million GEL)
The company also repaid 46.9 million GEL of previously accumulated liabilities.
Investments
Capital investments in 2024 totaled 12.9 million GEL, directed mainly toward station repairs and the purchase of spare parts.
Shareholders
As of the end of 2024, Gardabani Thermal Power Plant’s shareholders were:
- JSC Georgian Oil and Gas Corporation – 78.3%
- JSC Georgian Railways – 21.7%
