Georgian Railway's financial results for 2025 were mixed. The company's revenue decreased by 5.5% to 612.4 million GEL. The main reason was a reduction in freight traffic, which remains the carrier's key source of income. Over the year, the volume of transported goods decreased by 3% to 13.3 million tons, reflecting increasing competition between regional transport corridors.
However, against the backdrop of declining revenues, the company's net profit more than doubled – from 68.2 million to 152.7 million GEL. The main role in this was played not by transportation, but by currency fluctuations. The company holds Eurobonds worth 500 million dollars, so changes in the national currency exchange rate significantly affect the financial result. While in 2024 the weakening of the GEL led to foreign exchange losses of 55.7 million GEL, in 2025 the strengthening of the currency provided exchange rate gains of 56.4 million GEL.
An additional factor in profit growth was cost reduction. The company reduced expenses for electricity, fuel, consumables, and a number of other operating items. At the same time, the number of personnel decreased by 1021 people over the year, to 10,719 employees. Despite this, the payroll increased by 5.6% and reached 246.4 million GEL, which may indicate an increase in salaries and optimization of the company's staffing structure.