The company "Rustavi Steel" published its financial report. According to the audited financial statements, the income of the largest metallurgical enterprise of Georgia amounted to GEL 322 million in 2022, which was GEL 15 million less than the previous year.
Despite the decrease compared to 2021, this indicator of the company's sales is still high, because in previous years the revenues of "Rustavi Steel" were approximately GEL 100 million less.
The company earned a net profit of GEL 20.6 million in 2022.
LLC "Rutavi Steel" was established in 2011. The company's parent company and ultimate controlling company were Tolanius Beheer BV, registered in the Netherlands, and Park Street Capital L.P. The company itself is managed by Hunnewell Partners.
Company's Revenues From The Sales:
Total income - GEL 322 million;
Armature sales - GEL 281.8 million;
Seamless pipes - GEL 36.6 million.
According to individual markets, the company's revenues in 2022 were as follows:
Georgia - GEL 277 million;
European Union - GEL 20 million;
CIS - GEL 15 million;
Asia - GEL 7 million;
USA - GEL 4 million.
As for the financial condition of the company, the value of total assets of Rustavi Metallurgical Plant was GEL 314 million as of December 31, 2022,and its liabilities tood at GEL 291 million.
The company has about 1,500 employees.
