Sakrusenergo, the joint Georgian-Russian owner of key high-voltage transmission infrastructure, reported a net profit of GEL 36.8 million in 2025, more than triple the GEL 11.3 million earned a year earlier.
The increase was driven primarily by higher rental income from leasing transmission assets to the Georgian State Electrosystem (GSE). Total revenue nearly doubled to GEL 55.3 million, while lease income rose from GEL 19.4 million in 2024 to GEL 42.8 million after a revised lease agreement increased monthly payments from GEL 2.48 million to GEL 4.49 million.
Founded in 1996, Sakrusenergo is jointly owned by the Georgian government (50%) and Russia's Federal Grid Company (FGC UES, 50%). The company owns the Kavkasioni transmission line linking Georgia and Russia, as well as interconnection lines with Armenia and Azerbaijan, all of which have been leased to GSE since 2021.
At the end of 2025, Sakrusenergo held GEL 90.9 million in cash, including GEL 70 million deposited at Basisbank at an annual interest rate of 11.5%, while liabilities remained low at GEL 910,000. The company expects net profit to decline to GEL 15.4 million in 2026 following another revision to the GSE lease agreement.
