Business
1st Quarter Results
1st Quarter Results.
About this update from Georgia Capital Plc
[{"type":"text","content":"\n\nFINANCIAL PERFORMANCE HIGHLIGHTS (IFRS)[1]\n\n\n\n\nGEL '000, unless otherwise noted\n\n\nMar-25\n\n\nDec-24\n\n\nChange\n\n\n\n\nGeorgia Capital NAV overview\n\n\n\n\n\n\n\n\n\n\n\n\n\nNAV per share, GEL\n\n\n106.73\n\n\n95.95\n\n\n11.2%\n\n\n\n\nNAV per share, GBP\n\n\n29.80\n\n\n27.14\n\n\n9.8%\n\n\n\n\nNet Asset Value (NAV)\n\n\n3,857,578\n\n\n3,609,013\n\n\n6.9%\n\n\n\n\nShares outstanding2\n\n\n36,142,305\n\n\n37,612,488\n\n\n-3.9%\n\n\n\n\nCash and liquid funds\n\n\n161,853\n\n\n278,237\n\n\n-41.8%\n\n\n\n\nNCC ratio[2]\n\n\n13.5%\n\n\n12.8%\n\n\n0.7 ppts\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nGeorgia Capital Performance\n\n\n1Q25\n\n\n1Q24\n\n\nChange\n\n\n\n\nTotal portfolio value creation\n\n\n343,493\n\n\n306,944\n\n\n11.9%\n\n\n\n\n of which, listed and observable businesses\n\n\n247,949\n\n\n324,544\n\n\n-23.6%\n\n\n\n\n of which, private businesses\n\n\n95,544\n\n\n(17,600)\n\n\nNMF\n\n\n\n\nInvestments\n\n\n11,702\n\n\n3,000\n\n\nNMF\n\n\n\n\nBuybacks[3]\n\n\n87,876\n\n\n22,669\n\n\nNMF\n\n\n\n\nDividend income[4]\n\n\n8,007\n\n\n13,799\n\n\n-42.0%\n\n\n\n\nNet income\n\n\n334,199\n\n\n287,601\n\n\n16.2%\n\n\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\nPrivate portfolio companies' performance1,[5]\n\n\n1Q25\n\n\n1Q24\n\n\nChange\n\n\n\n\nLarge portfolio companies\n\n\n\n\n\n\n\n\n\n\n\n\n\nRevenue\n\n\n430,569\n\n\n355,375\n\n\n21.2%\n\n\n\n\nEBITDA\n\n\n57,181\n\n\n39,216\n\n\n45.8%\n\n\n\n\nNet operating cash flow\n\n\n43,096\n\n\n34,411\n\n\n25.2%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nTotal portfolio[6]\n\n\n\n\n\n\n\n\n\n\n\n\n\nRevenue\n\n\n523,599\n\n\n479,134\n\n\n9.3%\n\n\n\n\nEBITDA\n\n\n77,637\n\n\n63,184\n\n\n22.9%\n\n\n\n\nNet operating cash flow\n\n\n68,000\n\n\n45,459\n\n\n49.6%\n\n\n\n\n \nKEY POINTS\nØ NAV per share (GEL) increased 11.2% in 1Q25, driven by continued growth in Lion Finance Group's (Bank of Georgia's) share price and the robust operating performance of the private portfolio companies\nØ Outstanding quarterly results across our large private portfolio companies with 21.2% and 45.8% y-o-y increases in aggregated revenues and EBITDA in 1Q25, respectively, leading to a 25.2% y-o-y increase in net operating cash flow\nØ NCC ratio increased by 0.7 ppts q-o-q to 13.5% as at 31-Mar-25, mainly reflecting the announcement of a US$ 25 million increase to the buyback programme in Mar...