NAV Statement
CGEO and BGEO prices are updated every 15 minutes. The exchange rate is updated daily based on the official exchange rates published by NBG.
* BOG multiple is calculated based on the latest trading price and LTM 31-Dec-20 figures.
** Private portfolio companies, net debt and net other assets / liabilities are valued as of 31-Dec-20, BOG is valued at the latest trading price.
*** Shares outstanding are stated as of 31-Dec-20.
**** Independent third-party valuation firm is engaged to assess fair value ranges of large private portfolio companies at the reporting date starting from 2020. The valuation method used was combination of income approach (DCF) and market approaches ((listed peer multiples and in some cases precedent transactions). Investment stage portfolio companies are valued internally by applying market approach (multiples), cross checked with income approach (DCF). The multiples presented in the NAV statement for private assets are implied multiples, derived from estimated fair value and related LTM earnings, except from Water Utility. For the water utility business 31-Dec-20 LMT EBITDA reflects new tariffs, announced in 2020. Tariff adjusted EBITDA was used in valuation.