31.1 billion GEL – this is the aggregated income of the 100 largest private companies in Georgia excluding the banking sector.
This exclusive ranking, derived from an analysis of the 2021 financial statements of the featured companies, categorizes them based on their revenue streams. The dominant sectors within this list – energy, retail trade, healthcare, and communications, showcase the diverse nature of Georgia’s business environment.
The list does not include state-owned companies, as Forbes compiles separate rankings for this category.
Approved by GRANT THORNTON LLP
1 – LLC Socar Energy Georgia
Revenue in GEL: 2,175,850,000
Socar Energy Georgia is the largest Georgian company by revenue due to sales generated by its subsidiaries – Socar Georgia Petroleum and Socar Gas.
Owner: Government of the Republic of Azerbaijan
2 – JSC Georgia Healthcare Group
Revenue in GEL: 1,211,769,000
Georgia Healthcare Group is the largest healthcare holding company in Georgia, incorporating Evex hospitals and the pharmacy chains GPC and Pharmadepot.
Owner: Georgia Capital PLC
3 – LLC Tegeta Motors (Group)
Revenue in GEL: 797,152,000
Sale of vehicles and vehicle parts, automotive after-sale services
Owner: Temur Kokhodze
4 – JSC Nikora
Revenue in GEL: 749,678,000
JSC Nikora incorporates a meat production company, as well as the supermarket chains in Georgia – Nikora and Libre.
5 – LLC PSP Pharma
Revenue in GEL: 745,080,000
PSP Group operates over two hundred pharmacies across Georgia. The group also operates a network of hospitals in Tbilisi and other regions of Georgia.
Owners: 95% – Kakhaber Okriashvili, 5% – Tengiz Jamelashvili
6 – LLC Rompetrol Georgia
Revenue in GEL: 734,787,932
Rompetrol is the main brand of the KMG International, which is owned by the Kazakh national oil company KazMunayGaz. The main activity of Rompetrol is oil extraction, processing and selling.
Owner: Parent company: MG International N.V. Final controller: sovereign welfare fund JSC Samruk-Kazyna (owned by the Government of Kazakhstan)
7 – LLC Steel International Trading Company
Revenue in GEL: 709,913,015
Steel International Trading Company is one of the most profitable companies trading in ferroalloys, coke and coal in Georgia.
Owner: Giorgi Chelidze
8 – LLC Sun Petroleum Georgia (Gulf)
Revenue in GEL: 706,045,000
San Petroleum Georgia, which represents Gulf in Georgia since 2020, imports fuel from European oil refineries and owns about 140 gas stations across the country.
9 – LLC Aversi Pharma
Revenue in GEL: 690,807,000
Aversi operates over two hundred pharmacies across Georgia, a network of hospitals in Tbilisi and other regions of the country.
Owners: 67% – Paata Kurtanidze, 33% – Nikoloz Kurtanidze
10 – LLC Atlas Holdings (Adjarabet)
Revenue in GEL: 639,290,000
Atlas Holdings is mainly engaged in the gaming industry. The group offers its users an online casino and an online sports betting through Adjarabet platforms.
Owner: Flutter Entertainment PLC
Change in revenue of the 10 largest companies in 2018-2021
The 100 Largest Georgian Companies by Revenue
# | Company | Revenue 2021 | Change in the ranking | Industry |
1 | LLC SOCAR ENERGY GEORGIA | 2,175,850,000 | ✔︎ | OIL AND GAS DISTRIBUTION |
2 | JSC GEORGIA HEALTHCARE GROUP | 1,211,769,000 | ✔︎ | HEALTHCARE, PHARMACEUTICS |
3 | LLC TEGETA MOTORS (GROUP) | 797,152,000 | ⬆︎ 1 | SALE OF VEHICLES AND VEHICLE PARTS, AUTOMOTIVE AFTER-SALE SERVICES |
4 | JSC NIKORA | 749,678,000 | ⬆︎ 2 | RETAIL, FOOD PRODUCTION |
5 | LLC PSP PHARMA | 745,080,000 | ✔︎ | HEALTHCARE, PHARMACEUTICS |
6 | LLC ROMPETROL GEORGIA | 734,787,932 | ⬆︎ 10 | SALE OF OIL PRODUCTS |
7 | LLC STEEL INTERNATIONAL TRADING COMPANY | 709,913,015 | ⬆︎ 41 | SALE OF METALS AND ALLOYS |
8 | LLC SUN PETROLEUM GEORGIA | 706,045,000 | ⬆︎ 4 | SALE OF OIL PRODUCTS |
9 | LLC AVERSI PHARMA | 690,807,000 | ⬇︎ 1 | HEALTHCARE, PHARMACEUTICS |
10 | LLC ATLAS HOLDINGS (ADJARABET) | 639,290,000 | ⬆︎ 9 | GAMBLING |
11 | LLC GDI | 618,420,000 | ⬇︎ 2 | SALE OF TOBACCO PRODUCTS |
12 | LLC ORI NABIJI | 592,659,582 | ⬆︎ 6 | RETAIL |
13 | LLC PHILIP MORRIS GEORGIA | 592,021,000 | ⬇︎ 2 | SALE OF TOBACCO PRODUCTS |
14 | LLC MAJID AL FUTAIM HYPERMARKERTS GEORGIA | 570,301,000 | ⬇︎ 1 | RETAIL |
15 | LLC SILK ROAD GROUP HOLDING | 559,957,000 | ✔︎ | COMMUNICATIONS |
16 | LLC TOYOTA CAUCASUS | 544,304,410 | ⬇︎ 9 | CAR SALES |
17 | JSC WISSOL PETROLEUM GEORGIA | 530,092,000 | ⬆︎ 7 | OIL SALES |
18 | LLC MAGTICOM | 520,433,000 | ⬇︎ 4 | COMMUNICATIONS |
19 | LLC LUKOIL GEORGIA | 473,960,000 | ⬆︎ 14 | OIL PRODUCTS |
20 | LLC RETAIL GROUP (MAGNITI) | 460,240,000 | ⬆︎ 6 | RETAIL |
21 | LLC MARS (CRYSTALBET) | 453,559,000 | ⬆︎ 1 | GAMBLING |
22 | JSC RMG COPPER | 439,804,000 | ⬇︎ 12 | MINING, METALLURGY |
23 | JSC ENERGO-PRO GEORGIA | 436,959,000 | ⬇︎ 20 | ENERGY, ELECTRICITY DISTRIBUTION |
24 | LLC HEIDELBERGCEMENT GEORGIA | 415,295,000 | ⬇︎ 1 | CEMENT PRODUCTION |
25 | SPAR GEORGIA (JSC FOODMART) | 388,309,000 | ⬆︎ 3 | RETAIL |
26 | LLC TBILISI ENERGY | 363,293,000 | ⬆︎ 1 | NATURAL GAS SALES |
27 | GT GROUP | 352,982,113 | ⬆︎ 8 | SALE OF VEHICLES AN VEHICLE PARTS, AUTOMOTIVE AFTER-SALE SERVICES |
28 | LLC GEOSTIL | 351,606,000 | ⬆︎ 14 | METALLURGY |
29 | LLC ALTA | 350,048,000 | ⬆︎ 1 | ELECTRONICS |
30 | RUSTAVI STEEL | 337,806,000 | ⬆︎ 6 | METALLURGY |
31 | TBILISI ELECTRICITY SUPPLY COMPANY (TELMICO) | 326,407,000 | Firs time in the ranking |
ENERGY, ELECTRICITY DISTRIBUTION |
32 | LLC ELIZI GROUP | 323,077,000 | ⬇︎ 3 | TOBACCO SALES, DISTRIBUTION |
33 | LLC PORTAL PETROLEUM GEORGIA | 310,260,000 | ⬆︎ 16 | OIL PRODUCTS |
34 | JSC GHL GEORGIA (JIBE) | 308,840,000 | ⬇︎ 3 | RETAIL AND WHOLESALE TRADING |
35 | LLC ADJARA TEXTILE | 294,336,684 | ⬆︎ 17 | TEXTILE AND CLOTHING PRODUCTION |
36 | LLC GRC | 289,739,000 | ⬆︎ 11 | MANUFACTURING AND IMPORT OF ELECTRONIC MATERIALS |
37 | LLC RMG GOLD | 289,297,000 | ⬇︎ 16 | MINING, METALLURGY |
38 | JSC COCA-COLA BOTTLERS GEORGIA | 283,676,000 | ✔︎ | BEVERAGE PRODUCTION |
39 | LLC GEO SKY AIRLINES | 268,746,580 | ⬆︎ 57 | AVIATION |
40 | LLC ANAGI | 254,268,000 | ⬇︎ 6 | CONSTRUCTION, DEVELOPMENT |
41 | LLC DAYDREAM UNIVERSAL GEORGIA (BETLIVE) | 251,781,704 | ⬆︎ 87 | GAMBLING |
42 | JSC ELIT ELECTRONICS | 244,132,000 | ⬆︎ 1 | ELECTRONICS |
43 | LLC JTI CAUCASUS | 239,117,596 | ⬇︎ 3 | TOBACCO PRODUCT SALES |
44 | LLC ZOOMMER GEORGIA | 236,204,993 | ✔︎ | ELECTRONICS |
45 | LLC BMC GEORGIA | 233,609,797 | ✔︎ | CONSTRUCTION AND RENOVATION MATERIALS |
46 | LLC CHINA ROAD AND BRIDGE CORPORATION – GEORGIAN BRANCH | 223,204,085 | ⬆︎ 4 | CONSTRUCTON |
47 | LLC DIPLOMAT GEORGIA | 207,159,000 | ⬇︎ 6 | DISTRIBUTION |
48 | LLC UGT | 203,879,541 | ⬇︎ 2 | COMPUTERS AND AUDIO/VIDEO EQUIPMENT |
49 | LLC HUNAN ROAD AND BRIDGE CONSTRUCTION GROUP – GEORGIAN BRANCH | 201,104,370 | ⬆︎ 12 | CONSTRUCTION |
50 | LLC CHIATURMANGANESE GEORGIA | 188,953,648 | ⬆︎ 84 | METALLURGY |
51 | JSC POTI SEA CORPORATION | 187,488,000 | ⬇︎ 12 | TRANSPORTATION AND MARITIME SHIPPING |
52 | LLC SMART CAPITAL GROUP | 187,264,000 | ⬆︎ 25 | ENERGY, OIL, REAL ESTATE, TECHNOLOGY AND MANAGEMENT |
53 | LLC GMP | 183,285,100 | ⬆︎ 7 | PHARMACEUTICS |
54 | JSC TELASI | 181,928,000 | ⬇︎ 37 | ENERGY, ELECTRICITY DISTRIBUTION |
55 | LLC SHARM TRADING | 181,903,000 | ⬇︎ 1 | COMMERCE, DISTRIBUTION |
56 | JSC METAL CONSTRUCTION GEORGIA | 180,259,982 | Firs time in the ranking | DISMANTLING AND SALE OF METAL PRODUCTS, CONSTRUCTION, PRODUCTION OF FERROALLOYS |
57 | LLC CITADEL | 179,774,056 | ⬆︎ 10 | SALE OF CONSTRUCTION MATERIALS |
58 | LLC LUX OIL | 179,264,161 | ⬆︎ 15 | IMPORT OF OIL PRODUCTS |
59 | LLC MAJOREL GEORGIA | 176,036,000 | ⬆︎ 29 | OUTSOURCING, ADMINISTRATIVE SERVICES |
60 | LLC IBEROIL | 175,912,783 | ⬆︎ 15 | SALE OF OIL PRODUCTS |
61 | JSC LOMISI (BREWERY NATAKHTARI) | 167,225,000 | ⬆︎ 3 | PRODUCTION OF ALCOHOLIC AND NON-ALCOHOLIC BEVERAGES |
62 | LLC GEODISTRIBUTION | 167,064,000 | ⬇︎ 7 | TOBACCO SALES, DISTRIBUTION |
63 | JSC GEORGIAN BEVERAGES (TELIANI VALLEY, GLOBAL BEER GEORGIA) | 166,668,000 | ⬇︎ 6 | PRODUCTION AND DISTRIBUTION OF ALCOHOLIC BEVERAGES |
64 | LLC NOVA | 165,841,000 | ⬇︎ 2 | PRODUCTION, IMPORT AND SALE OF CONSTRUCTION MATERIALS |
65 | LLC COCA-COLA DISTRIBUTION | 163,338,000 | ⬆︎ 9 | RETAIL, DISTRIBUTION |
66 | LLC FULL HOUSE (CROCOBET) | 163,019,000 | ⬆︎ 53 | GAMBLING |
67 | LLC MEGACO | 161,784,000 | ⬇︎ 4 | ALCOHOLIC BEVERAGE PRODUCTION, DISTRIBUTION |
68 | LLC TAV URBAN GEORGIA | 159,840,000 | ⬆︎ 59 | AVIATION AND TRANSPORT SERVICES |
69 | LLC GEORGIAN WATER AND POWER | 158,833,000 | ⬆︎ 3 | WATER SUPPLY, ENERGY |
70 | Eurosteel | 158,628,910 | ⬆︎ 9 | CONSTRUCTION MATERIALS |
71 | LLC PETROCAS FUEL SERVICES GEORGIA | 155,075,000 | ⬆︎ 67 | SALE OF OIL PRODUCTS |
72 | JSC T&R DISTRIBUTION | 154,903,000 | ⬇︎ 19 | TOBACCO SALES, DISTRIBUTION |
73 | LLC AGROHUB | 154,276,008 | ⬇︎ 8 | RETAIL |
74 | LLC WIMM-BILL-DANN GEORGIA (SOPLIS NOBATI) | 152,906,000 | ⬇︎ 6 | PRODUCTION AND DISTRIBUTION OF DAIRY PRODUCTS |
75 | LLC DAILY | 152,572,000 | ⬆︎ 27 | RETAIL |
76 | LLC GEORGIAN INDUSTRIAL GROUP HOLDING | 150,163,000 | ⬇︎ 39 | ENERGY |
77 | LLC GEORGIAN DISTRIBUTION AND MARKETING COMPANY | 149,289,000 | ⬇︎ 6 | DISTRIBUTION |
78 | LLC EVOLUTION GEORGIA | 145,314,000 | ⬆︎ 17 | GAMBLING |
79 | JSC GOODWILL | 144,863,000 | ⬇︎ 21 | RETAIL |
80 | LLC CLEAN HOUSE | 140,126,000 | ⬇︎ 11 | RETAIL |
81 | LLC T&K RESTAURANTS (MCDONALD’S GEORGIA) | 138,804,945 | ⬆︎ 13 | FAST FOOD RESTAURANTS |
82 | LLC LC WAIKIKI | 137,726,000 | ⬆︎ 4 | SALE OF CLOTHING AND ACCESSORIES |
83 | JSC INSURANCE COMPANY GPI HOLDING | 135,966,000 | ⬇︎ 17 | INSURANCE |
84 | LLC MODUS | 132,656,916 | ⬇︎ 14 | COMMERCE |
85 | LLC CHAMPIONS 111 (EUROPEBET) | 131,069,000 | ⬇︎ 4 | GAMBLING |
86 | LLC IBERIA BUSINESS GROUP | 128,752,209 | ⬆︎ 26 | COMMERCE |
87 | MERCEDES-BENZ GEORGIA (JSC AKA) | 126,161,000 | ⬆︎ 28 | SALE OF VEHICLES AND VEHICLE PARTS, AUTOMOTIVE AFTER-SALE SERVICES |
88 | LLC POTI GRAIN TERMINAL | 126,146,230 | ⬇︎ 5 | TRANSPORTATION |
89 | LLC CELLFIE MOBILE | 125,802,000 | ⬇︎ 7 | COMMUNICATIONS |
90 | JSC INSURANCE COMPANY ALDAGI | 122,794,000 | ⬇︎ 5 | INSURANCE |
91 | JSC ENERGO-PRO GEORGIA GENERATION | 120,547,000 | ⬆︎ 19 | ELECTRICITY PRODUCTION |
92 | LLC K-WASH | 120,075,535 | ⬆︎ 45 | IMPORT OF OIL PRODUCTS |
93 | LLC MIXORI GROUP (ZEDAZENI) | 117,781,000 | ⬇︎ 6 | PRODUCTION OF ALCOHOLIC AND NON-ALCOHOLIC BEVERAGES |
94 | LLC GDG | 117,341,750 | ⬆︎ 5 | DISTRIBUTION |
95 | LLC PACE GEORGIA | 115,869,000 | ⬇︎ 3 | TRANSPORTATION AND MARITIME SHIPPING |
96 | LLC TOYOTA CENTRE TBILISI | 115,475,342 | ⬆︎ 5 | SALE OF VEHICLES AND VEHICLE PARTS, AUTOMOTIVE AFTER-SALE SERVICES |
97 | LLC LEADER-BET SLOT | 114,287,000 | ⬆︎ 7 | GAMBLING |
98 | JSC TBC INSURANCE | 113,774,000 | ⬆︎ 8 | INSURANCE |
99 | LLC DAPNA | 113,347,014 | ⬇︎ 21 | DISTRIBUTION |
100 | LLC KAKHETIAN TRADITONAL WINEMAKING | 112,583,482 | ⬇︎ 24 | ALCOHOLIC BEVERAGE PRODUCTION |
Methodology
The ranking of the 100 largest companies by revenue relies on the analysis of publicly disclosed financial statements of the firms, accessible on reportal.ge. The list is compiled with the data of the first category and first group companies.
Certain companies, that should probably be in the ranking, do not have their own 2021 financial statements publicly published, therefore, they are omitted from the ranking.
Acknowledging that numerous listed companies possess subsidiary organizations, our methodology for each group involves relying on consolidated financial reports, in which the finances of all subsidiaries are combined. For instance, Socar Energy Georgia includes Socar Petroleum, Socar Gas and other subsidiary organizations. Likewise, for companies representing groups, we refer to the consolidated financial statements of the parent company.
In instances where financial reports are presented in US dollars, the ranking reflects the data in the equivalent of GEL, using the average exchange rate for 2021.
The ranking is based on publicly available company data, irrespective of auditors’ conclusions. This includes scenarios where auditors either confirm the fair presentation of the company’s financial statements in full, under specific conditions or even choose not to express an opinion in the report.
