Georgia Capital PLC (the “Company") has published today its fourth quarter and full year 2023 preliminary financial results.
- NAV per share (GEL) up 7.7% q-o-q to GEL 82.94 (GBP 24.23), reflecting strong value creation across our portfolio companies. NAV per share (GEL) was up 26.5% y-o-y in FY23
- Net Capital Commitment (NCC) ratio improved by 0.3 ppts q-o-q to 15.6% as at 31-Dec-23 (a 5.5 ppts improvement y-o-y), despite the launch of the US$ 15 million share buyback programme in 4Q23
- GEL 34.2 million dividend income from the portfolio companies in 4Q23, driving FY23 total dividend income to GEL 235.9 million (of which, recurring dividend income of GEL 179.8 million). This compares to total dividend income of GEL 93.9 million in FY22
- c.665,000 shares repurchased in 4Q23 (total bought back and cancelled now at c.4.8% of issued capital since Jan-23)
- Sale of one of the regional and community hospitals for a total consideration of GEL 34.6 million at 15.2x EV/EBITDA multiple, representing a 43% premium to its pre-disposal valuation
- Acquisition of GEL 73 million portfolio of medical insurance contracts together with the strong brand name “Ardi” for a total cash outflow of GEL 27 million, doubling our presence in the medical insurance business
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. An investor/analyst webinar, organised by the Company, will be held on 22 February 2024, at 13:00 UK / 14:00 CET / 8:00 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.
