"Georgian Greenhouse Corporation" (Planta) has published its financial report for 2023. According to the document, the company's revenue from product sales was determined at 14.1 million GEL, which was 1.8 million GEL less than the previous year's figure. However, the company's net profit amounted to 1.2 million GEL.
According to the report, in 2023, the company sold cucumbers worth 7.9 million GEL and tomatoes worth 6 million GEL.
"The company owns a 12-hectare modern greenhouse facility, which is equipped with artificial lighting for plant growth. The company's annual production volume exceeds 7,100 tons. The company's main goal is to provide high-quality premium-class products to the local market, reduce import dependence and fill the deficit in local vegetable production," the company's report states.
"Georgian Greenhouse Corporation" sells its products on the market under the "Planta" brand.
According to the financial report, the company spent the most on utility bills, which amounted to 5.4 million GEL. Employee wages amounted to 4.6 million GEL, while seed and other expenses cost the company 2.5 million GEL. Depreciation expenses on fixed assets amounted to 1.9 million GEL.
The company's total assets amounted to 25 million GEL by the end of 2023, and liabilities - 4.4 million GEL. In addition, the company has accumulated losses over the years, which are determined in the amount of 52 million GEL.
"As of December 31, 2023, 98.67% of the company belongs to Greenhouse Holding LLC, whose parent company GCF LP is registered in the Cayman Islands and is controlled by the individual Ekaterine Khvedelidze," the financial report states.
