Container company MSC s revenue from Georgia increased to 122 million

Global container company MSC's revenue in Georgia increased by 26 million GEL, or 27%, and reached 122 million GEL - this is stated in the 2023 financial report published by the company. According to the report, MSC is the leader in container shipping in Georgia and it provides container services to customers in Poti and Batumi ports.

According to the financial report, the company's revenues are distributed according to sources as follows:

Income from terminal services - 90.6 million GEL, an increase of 19%;

Income from the transfer of containers for land transportation - 10.4 million GEL, an increase of 70%;

Income from ground transportation - 6.3 million GEL, an increase of 60%;

Income from storage of containers - 6 million GEL, an increase of 45%;

Other operating income is 6 million GEL, an increase of 41%.

According to the financial report, the company had a net profit of 40.9 million GEL last year, which is 8.6 million GEL more than in 2022. The company's assets in Georgia is 17.3 million GEL.

80% of the company MSC Georgia is directly owned by MSC Shipping Line, which ranks #1 in the world by the size of the container fleet. The owner of 20% of the company's share is businessman Jemal Inaishvili's company "Inveko", whose daughter Irina’s name was given to, the company MSC’s one of the newest container ships - 400 meters long. The ship has a capacity of 24,300 containers (TEU) and due to its size, it cannot be accepted by any port in Georgia.

It is important to note that the MSC Group participated in the final stage of the investor selection competition for the development of the deep-water port in Anaklia, Georgia, where the group was represented by the TIL company, which is the operator of 70 port terminal infrastructures in 31 countries. However, at the final stage of the Anaklia tender, the company did not submit its proposal, and the only company that submitted its final investment proposal was the Chinese CCCC, which was named as the preferred bidder.

Source: BM.GE