Revenues of Batumi Oil Terminal increased to $28 million

30/09/2022

14:17

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Batumi Oil Terminal, which is also the owner of Batumi Port, has published its financial report for 2021. According to the document, the company's revenue increased by $2 million and totaled $27.7 million.

KazTransOil, the State Investment Fund of Kazakhstan, is a 100%-shareholder of the assets of Batumi Oil Terminal. The company acquired the exclusive right to manage the port in 2006 for a period of 49 years.

According to the financial report, the assets of the company amount to $108 million.

The revenues of the Batumi oil terminal are distributed as follows:

• Harbor fee - $9.7 million;

• Income from the shipment of oil products - $9.4 million;

• Dry cargo terminal - $5.8 million;

• Warehouse terminal - $1.4 million.

The most considerable expense of Batumi Oil Terminal was the salaries of the employees, for which the company spent $8.9 million. The wages of the administration amounted to $3.4 million.

In total, the net profit of the Batumi oil terminal in 2021 amounted to $8.3 million, while in 2020, the company was at a loss of 6 million instead of a profit.

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