Georgia Capital PLC (the “Group") has published today its first quarter 2022 financial results.
- NAV per share (GEL) down 16.5% in 1Q22, reflecting the impact on portfolio asset valuations from market movements in discount rates and listed peer multiples resulting from the Russia-Ukraine war:
- GEL 243.1 million value reduction in private portfolio assets (-8.4 ppts impact on the NAV per share)
- GEL 207.7 million value reduction in BoG stake value as share price decreased by 28.8% (-7.2 ppts impact)
- Receipt of GEL 526.7 million (US$ 173 million) cash proceeds (net of transaction fees) from the disposal of an 80% equity interest in the water utility business, leading to the portfolio value reduction by GEL 557.6 million, and contributing to a 66.3% decrease in the Group’s net debt in 1Q22
- Outstanding growth in aggregated net operating cash flow generation across our private businesses, up 83.5% in 1Q22
- c.873,000 shares (c.2% of issued capital) repurchased in 1Q22 under the current share buyback and cancellation programme, bringing the total bought back and cancelled shares to c.4% of issued capital as at 6 May 2022
- Market Value Leverage (“MVL”) down 7.7 ppts to 16.5% in 1Q22 (from 24.2% as of 31-Dec-21)
The results announcement together with the supplementary financial information (excel file) are available on the Group’s website at https://georgiacapital.ge/ir/financial-results. Additionally, the members of the Georgia Capital management team will host Investor Day for analysts and investors today in London. The Group’s first quarter 2022 financial results will be discussed during this event.