Investor Presentaiton
Performance against the strategy
Strong results on the back of implemented strategic priorities
1.
Revenue and EBITDA build-up
2.
FCFF turned positive in 2019
Water utility
68
110
117
125
140
143
105
+37.7%
- 17.1%
14.9%
Revenue growth
FCFF
17
(2)
(58)
(66)
163
149
20
135
9
127
Total revenue
119
10
120
148
128
10
9
15
99
95
83
GEL millions
73
69
62
17
12
11
(1)
2
7
99
82
82
70
50
44
38
52
56 54
6
35
94
27
73
61
52 51
26 28
22
15
21
38
36
2015
2016
2017
2018
2019
9M19
9M20
3Q19
3Q20
I Revenue from water sales
Revenue from electricity sales
Total EBITDA
2015
2016
2017
2018
2019
9M19
9M20
3Q19
3Q20
â– Capital expenditures
Cash flow from operations
Strategy highlights
Note: Capital expenditure is the sum of cash flow from investing activities and maintenance capex
1. Decreased self-produced electricity consumption by c. 45% (by 145GWh) from 2015 to 2019 on the back of capital expenditures freeing up electricity for sale
2.
2017-2018 years of most intensive capital expenditures focused on upgrading a significant part of water and wastewater networks
3.
As a result, Privatization Agreement formed with the Government was successfully exited in 2019 obtaining unencumbered title over its assets
4.
Starting from 2019, capital expenditures have been gradually decreasing to run-rate level, contributing to positive FCFF generationView entire presentation