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How Much Net Profit Did GWP Receive Last year?

Natia Taktakishvili
14.12.22 16:00
Georgian Water and Power (GWP), which is responsible for Tbilisi's water supply, has published its financial report for 2021. According to the document, last year the company's income increased by 54% to GEL 178.5 million.

Of which, the company earned GEL 158.8 million from the water supply system, while GEL 18.6 million from the sale of electricity.

According to the financial report, last year the company earned a net profit of GEL 60 million.

As of the financial report, the biggest expense of the company was the salaries of the employees, for which GWP spent GEL 18 million, while the remuneration of the administration amounted to GEL 3 million.

The second largest expenditures were made by GWP on electricity and transmission, which made up GEL 14.8 million, and the third was wastewater treatment costs, with equal to GEL 13.9 million.

Until 2022, the owner of GWP was the company GGU, part of the Georgian Capital Group, and this year the Spanish corporation Aqualia became the owner of the control package of GGU. The value of the deal was USD 180 million.

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