Georgia Capital PLC 3Q20 and 9M20 Results

Georgia Capital PLC ("the Group") has published today its third quarter and first nine months 2020 financial results.

KEY POINTS

• NAV per share up 19.5% in 3Q20 
  • The first time valuation of GHG as a wholly owned private company, performed by an independent valuation company, contributed growth of 36% in NAV per share
  • NAV per share was negatively impacted by valuation of our listed asset and FX loss on GCAP net debt
• Solid 3Q20 results across our portfolio, with aggregated revenues growing 4.7% y-o-y in 3Q20 (up 6.9% y-o-y in 9M20)
• Outstanding growth in aggregated net operating cash flow generation, up 125.1% in 3Q20 and up 106.2% in 9M20
• GEL 10m dividends collected from private businesses in 3Q20 (Water Utility - GEL 5m; P&C Insurance – GEL 5m)
• Aggregated cash balances of portfolio companies almost doubled in 9M20 to GEL 361m at 30-Sep-20 (GEL 282m at 30-Jun-20 and GEL 183m at 31-Dec-19)
• GCAP liquidity remained high at GEL 267m, down only 4.6% in 3Q20 notwithstanding US$ 9m coupon payment 

The results announcement together with the supplementary financial information (excel file) is available on the Group’s website at https://georgiacapital.ge/ir/financial-results. Additionally, the members of Georgia Capital management team will host a virtual Investor Day today for analysts and investors. An investor/analyst webinar, organised by the Group, will be held today, at 11:00 UK / 12:00 CET / 6:00 U.S Eastern Time. Please register for the webinar at Registration link.