BAKU, Azerbaijan, August 15
By Tamilla Mammadova – Pattern:
One of many largest wine and spirits producers in Georgian Kakhetian Conventional Vineyard (KTW) ended the 2020 yr with a 15 million lari ($4.8 million) loss, Pattern experiences by way of the corporate’s report.
That is the primary time within the final 4 years the corporate has suffered a loss.
The corporate’s annual report says that export markets account for many of the KTW Group gross sales. The corporate’s essential export market is in Russia, the place Kakhetian conventional winemaking bought the merchandise value 65 million lari ($20.9 million), adopted by Ukraine with 32 million lari ($10.3 million), Belarus – 1.7 million lari ($548,835), Moldova – 1.4 million lari ($451,981) and China – 0.5 million lari ($161,422).
Whole export income amounted to 103 million lari ($33.2 million) whereas within the native market the corporate bought alcoholic drinks within the quantity of two million lari ($645,688). In comparison with 2019, in 2020 gross sales within the Russian market elevated by 27 p.c, in Belarus by 100%, in Latvia-Estonia declined by 2-fold, within the US elevated by 3.33-fold, in China fell by 73 p.c. In comparison with 2019, in 2020 KTW Group posted a 3 p.c enhance.
In 2020, KTW Group based the “KTW IMPORT & DISTRIBUTION” firm in Poland that’s engaged within the presentation/sale of merchandise in EU nations. In December final yr, KTW Group issued $10 million value of securities for a two-year interval to repay non-performing financial institution loans and develop the agricultural sector.
In 2020, the Kakhetian conventional winemaking spent 2 million lari ($645,688) on salaries, 1.6 million lari ($516,550) – on the upkeep of vineyards and 205,888 lari ($66,469) – on charity. The online loss from overseas forex conversion reached 12 million lari ($3.8 million).
Kakhetian Conventional Winemaking is likely one of the largest wine and spirits producing firms in Georgia and the Caucasus area. Established in 2001, KTW produces wine, brandy, glowing wine, and chacha with conventional Georgian methods blended with the state of artwork applied sciences.
At present, the group has 5 o wineries, 4 of that are situated in Kakheti and one in Adjara.
In response to the Nationwide Wine Company, in 2020 Georgia exported as much as 92.4 million bottles (0.75 l) of wine to 60 nations which can be 1 p.c lower than in 2019. The worth of exported wine reaches $216.5 million that’s 9 p.c lower than in the identical interval of 2019.
Observe the writer on Twitter: @Mila61979356
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