Georgia Capital PLC (the “Group") has published today its first quarter 2021 financial results.
- GCAP liquidity up 64.4% to GEL 467.4 million in 1Q21, reflecting US$ 65 million Eurobond tap in March 2021
- NAV per share down 2.7% to GEL 46.80 in 1Q21, mainly resulting from:
- A 9.8% decrease in BoG share price, reducing the value of our holding by GEL 26.5 million (-1.2% impact)
- A 4.0% GEL depreciation against USD, leading to GEL 31.4 million FX loss on GCAP’s net debt (-1.4% impact)
- Net interest expense and management platform related costs of GEL 21.6 million (-1.0% impact)
- GEL 35.0 million value creation in our resilient and defensive private portfolio (+1.6% impact)
- Strong operating performance across our private portfolio, notwithstanding certain ongoing government mandated restrictions against the pandemic throughout the quarter
- Aggregated y-o-y revenues and EBITDA up 8.3% and 25.3%, respectively, in 1Q21
- Aggregated cash balances of portfolio companies up 62.6% to GEL 347.3 million y-o-y in 1Q21
- Aggregated y-o-y net operating cash flow down 65% to GEL 31.4 million in 1Q21, reflecting organic transition to revenue growth strategy from previously adopted cash preservation strategy
- Aggregated y-o-y revenues and EBITDA up 62.3% and 161.3%, respectively, in April 2021
- GEL 4.7 million dividends collected from the renewable energy business in 1Q21
- GEL 8.2 million capital allocated to investment stage businesses, in line with our capital allocation programme.
The results announcement together with the supplementary financial information (excel file) and investor presentation are available on the Group’s website at https://georgiacapital.ge/ir/financial-results. An investor/analyst webinar, organised by the Group, will be held today at 13:00 UK / 14:00 CET / 8:00 U.S Eastern Time. The duration of the webinar will be 60 minutes and will consist of a 30-minute update and a 30-minute Q&A session.
Webinar instructions:
Please click the link to join the webinar:
https://gcap-ge.zoom.us/j/92790908107?pwd=bUJYRXJHNmw4aVFKZjc2bGRvRmhEQT09
Webinar ID: 927 9090 8107
Passcode: 572437
Or use the following international dial-in numbers available at: https://gcap-ge.zoom.us/u/acqvfkNfbY
Webinar ID: 927 9090 8107#
Passcode: 572437
Participants, who will be joining through the webinar, can use the “raise hand” feature at the bottom of the screen to ask questions. Participants, who will be joining through the international dial-in number, can dial *9 to raise hand and ask questions.
