The turnover of the largest Georgian bakery Ipkli makes GEL 62 million followed by Ipkli Digomi (turnover of GEL 44 million), as per Finpost study of the financial performance of the three largest bakeries in Georgia.
According to the study, the third is Lithuanian Bakery with a turnover of GEL 10 million and significantly lags behind the largest producers. Two leading manufacturers are focused on consumers with relatively low incomes offering minimal prices for their products.
Lithuanian Bakery sets relatively high pricessells for its products at positioning itself as a company that makes healthy bread.
All three companies saw revenue of more than 31% in 2021 due to price hikes caused by inflation, and with the expansion of distribution and increased sales. The companies' gross profit margin ranges within 32%-37%.
