Georgia Capital PLC (the “Group") has published today its second quarter and first half 2021 financial results.
- NAV per share (GEL) up 16.4% in 2Q21 (up 13.2% in 1H21), reflecting robust underlying operating performance across our private portfolio, a 22.2% increase in the BoG share price and GEL’s appreciation against the US Dollar
- NAV per share (GBP) up 24.9% in 2Q21 (up 15.2% in 1H21), benefiting from GEL’s appreciation against GBP during the first half of 2021
- Our private portfolio companies delivered outstanding quarterly results in 2Q21:
- Aggregated quarterly revenues exceeded GEL 500 million level for the first time (up 45.3% y-o-y in 2Q21 and up 42.2% compared to 2Q19; up 26.5% y-o-y in 1H21 and up 37.1% compared to 1H19)
- Record aggregated quarterly EBITDA of GEL 114 million (up 89.1% y-o-y in 2Q21 and up 84.1% compared to 2Q19; up 58.4% y-o-y in 1H21 and up 63.8% compared to 1H19)
- Aggregated y-o-y net operating cash flow down 11.2% in 2Q21 and down 37.3% in 1H21 (up 47.2% and up 22.7%, respectively, compared to pre-pandemic, 2019 levels) reflecting a continued organic transition to revenue growth strategy from the previously adopted cash preservation strategy
- GEL 9.7 million dividends collected from the private portfolio companies in 2Q21 (GEL 14.4 million in 1H21)
- Divestment of US$35 million commercial real estate properties at 15.4% premium (US$ 4.7 million) to 31 March 2021 book values completed during June-August 2021, demonstrating steady progress on our strategic priorities
- Commencement of US$ 10 million share buyback and cancellation program, in line with our capital allocation framework
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 14:00 UK / 15:00 CET / 9:00 US 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/87605033792?pwd=TGl3dTM3eFNCOTVqS0Fyb3QyZklGZz09
Webinar ID: 876 0503 3792
Passcode: 569778
Or use the following international dial-in numbers available at: https://gcap-ge.zoom.us/u/kb8AKJn07O
Webinar ID: 876 0503 3792#
Passcode: 569778
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 a hand and ask questions.
