Deputy Economy Minister Tamar Ioseliani says the results of reforms at Georgian Railway are already visible, with the company’s net profit roughly doubling in 2025 to 152.7 million GEL from 68.2 million GEL a year earlier. She attributes the improvement to more efficient management and ongoing modernization plans.
Despite a 5.5% drop in revenues to 612.4 million GEL, driven mainly by a 3% decline in freight volumes, the company still posted significantly higher profits. Total cargo transported fell to 13.3 million tons in 2025, reflecting weaker freight performance.
The main driver of profit growth was financial rather than operational. Georgian Railways recorded a 56.4 million GEL foreign exchange gain linked to its $500 million Eurobond, compared to a 55.7 million GEL loss a year earlier due to currency depreciation. Lower operating costs for energy, fuel, and materials also supported results.
Looking ahead, the company plans major investments, including the purchase of 50 locomotives and 1,500 wagons worth over 1 billion GEL. At the same time, staffing fell to 10,719 employees, while average salaries increased by 12.2% to 1,829 GEL.
