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| GEL thousands | 2023¹ | 2024 | 2025² |
|---|---|---|---|
| P&L Items | |||
| Revenue | Register | 89,143 | Register |
| Adj. Operating Profit³ | Register | 8,448 | Register |
| Adj. EBITDA³ | Register | 8,701 | Register |
| Net Income | Register | 7,407 | Register |
| Margins & Profitability Ratios (%) | |||
| Adj. Operating Profit Margin³ | Register | 9.5% | Register |
| Adj. EBITDA Margin³ | Register | 9.8% | Register |
| Net Income Margin | Register | 8.3% | Register |
| Balance Sheet Items & Leverage | |||
| Total Assets | Register | 26,508 | Register |
| Total Equity | Register | 9,440 | Register |
¹ FY23 results are not directly comparable to FY24, as the legal entity was incorporated in May 2023 — FY23 reflects only a partial-year stub period versus a full 12 months in FY24.
² Adjara Group is jointly and severally liable for its group's USD 200m bank credit line (GEL 488.1m drawn at end-2025, about 42x the company's equity), an exposure not on its balance sheet. Cash distributions to sister companies under common control (GEL 24.4m in 2025, GEL 3.6m in 2024) are shown as a capital decrease, since the filing reports no dividends.
³ Adj. Operating Profit has been adjusted to exclude non-recurring and one-time items. Adj. EBITDA is calculated by adding back D&A expenses to the adjusted operating profit.
⁴ Total debt includes lease liabilities, where applicable.