Audit and consulting company AGIC conducted research on Furniture Industry Benchmark Survey.
Methodology
The data used in the study are taken from the website of the Reporting Portal, where the annual financial statements are published by the legislation of Georgia.
These companies belong to the second and third categories, of which only two companies are audited. 41% of the surveyed companies are manufacturing companies and 59% are furniture companies.
This information is based on 2018 data, the focus is on market leaders, the number of which is 22.
Results of the Research
The study focuses on the main companies in the furniture industry, with a total turnover of more than 110 million GEL, a total assets of 95 million GEL, and a total profit of up to 3 million GEL before taxation.
The study identified industry-leading companies in terms of revenue, assets and profits. The analysis of the data revealed that Georgian companies have the following financial indicators in the furniture industry: in particular, for furniture manufacturing companies, the profit on capital averaged 9% (ROE), the profit on assets (ROA) 14%. For stores, ROE accounted for 8%, while ROA accounted for 45%, resulting in a decrease in the number of assets of the latter.
To see the full version of the research, follow the link: furniture industry benchmark survey