Georgia Capital PLC (the “Company") has published today its financial results for the second quarter and the first half of 2025.
- NAV per share (GEL) increased 17.7% in 2Q25, driven by both the robust operating growth of our private large portfolio companies and the continued growth in Lion Finance Group PLC’s share price
- Outstanding quarterly results across our private large portfolio companies with 14.4% and 28.9% y-o-y increases in aggregated revenues and EBITDA in 2Q25, respectively, leading to a 45.0% y-o-y increase in net operating cash flow
- Completion of the water utility put option exercise and receipt of US$ 70.4 million cash proceeds in Jul-25, further enhancing GCAP’s liquidity position and contributing to a 6.5 ppt q-o-q improvement in the NCC ratio to 7.0% in 2Q25
- NCC ratio over the cycle target reduced to 10% from previous 15%, in line with our deleveraging strategy
- US$ 18 million increase to the existing share buyback and cancellation programme was announced in Jul-2025, which will complete the GEL 300 million capital return package, significantly earlier than the originally announced end-2026 timeline
- Launch of new GEL 700 million capital return programme to be executed through end-2027, commencing with:
- An initial US$ 50 million share buyback programme following the completion of the current programme in Aug-2025, and
- At least US$ 50 million partial redemption of the US$ 150 million local Holding Company bonds in Sep-2025
- 1.3 million shares repurchased during 2Q25 and so far in 3Q25 (total bought back since demerger now 14.1 million shares (US$ 187 million cost), representing 29.4% of GCAP’s peak issued share capital)
WEBINAR DETAILS
An investor/analyst webinar, organised by the Company, 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.
Please register at the Registration link to attend the event.
The results announcement together with the supplementary financial information (excel file) are available on the Company’s website at https://georgiacapital.ge/ir/financial-results.
