OPEX Ratio Alignment & Portfolio Valuation Overview
LEVERAGE OVERVIEW OF OUR PRIVATE BUSINESSES
GEORGIA
CAPITAL
TOTAL NET DEBT/EBITDA
DEVELOPMENT OVERVIEW
➤ Despite headwinds from COVID-19,
leverage profile across our private portfolio
companies improved over the last 2 years.
GEL MILLION
5.5x
5.3x
4.6x
3.9x
3.7x
3.7x
3.5x
....
189
1,039
200
1,062
225 1,025 268 998
258 913
255
946
238 927
Dec-19
Jun-20
Dec-20
Jun-21
Dec-21
Mar-22
Jun-22
Total LTM EBITDA
Total Net debt
- Total Net debt/EBITDA
Georgia Capital PLC | General note: Figures for Hospitals, Retail (Pharmacy), Clinics and Diagnostics are given excluding IFRS 16 effects. Net debt Includes the application of the minority buyout
agreement in the retail (pharmacy) business and assumes the conversion of the loans issued to our real estate and beverages businesses into equity.
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