Audit and consulting company AGIC conducted an ice cream industry benchmark survey, that serves to identify trends in the ice cream industry based on the first, second and third size category companies’ financial statements for 2018.

The report presents the average financial indicators of the sector, which forms the “benchmark” of the sector and provides information on its financial situation.

Methodology

The data used in the study are taken from the website of the Reporting Portal, where the annual financial reports are published following the legislation of Georgia. These companies belong to the first, second, and third size categories, of which only 2 companies are audited.

This information is based on the data of 2018, the focus is on the leading companies in the market, the number of which is 7. The study focuses on market research on ice cream products, specifically ice cream production and export-import data from the International Trade Center website.

Research Results

The study reviews ice cream companies with a total turnover of more than GEL 101 million, total assets of GEL 103 million, and total profits before tax of GEL 8 million. The study identified industry-leading companies in terms of revenue, assets, and profits.

The analysis of the data showed that Georgian companies have the following financial indicators in the ice cream industry: the average profit on assets (ROA) is 5%, and the profit on capital (ROE) is 8%. Besides, the financial ratios of the industry’s average liquidity, efficiency, and solvency were determined.

The study also revealed the average data for 2018 companies by category. One of the 7 companies in this category is the first category, in the second category we have one company, and the other five companies are united in the third category.

To see the full version of the ice cream industry research, go to the link