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.