Georgia Capital PLC (the “Company") has published today its financial results for the third quarter and the nine months of 2026.
KEY POINTS
- NAV per share increased by 13.6% q-o-q to a record high of GEL 198.91 (up 15.1% q-o-q to GBP 57.69), driven by strong operating performances across our large private portfolio companies and continued growth in Lion Finance Group PLC’s share price
- Sustained double-digit growth across our large private portfolio, with aggregate revenues and EBITDA increasing by 18.5% and 26.3% y-o-y, respectively, in 3Q26, driving a 12.3% y-o-y increase in net operating cash flow
- Full deleveraging achieved at the HoldCo level in 3Q26, with gross debt reduced to zero for the first time ever. The HoldCo is now in a net cash position of GEL 291 million
- Extension of the existing share buyback and cancellation programme by an additional US$ 50 million under GCAP’s GEL 1 billion capital allocation programme, bringing the total new share buyback programme size to US$ 100 million
- Healthcare services business to invest approximately GEL 53 million development capex to expand its platform and drive further growth in high-demand private-pay services with targeted ROICs in excess of 20% when fully operational. GCAP to invest GEL 10 million to support this programme. The healthcare services business to look for a potential IPO on an international stock exchange over the next three to five years
- NCC ratio up by 2.0 ppts q-o-q to -0.9%, primarily reflecting the cash commitment to the US$ 50 million share buyback programme launched in August 2026 and a 14.1% q-o-q increase in portfolio value. This is comfortably within GCAP’s target NCC ratio level of 10%
- 1.0 million shares repurchased during 3Q26 and 4Q26 to date, bringing total shares bought back since the demerger to 17.6 million (US$ 348 million), representing 36.8% 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 / 10:00 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/investor-relations/financial-results.