Portfolio Valuation and Ameriabank Acquisition Update
RETAIL (PHARMACY) BUSINESS
OPERATING PERFORMANCE OVERVIEW
REVENUE DEVELOPMENT
RETAIL (PHARMACY)
KEY DRIVERS
The y-o-y increase in revenues reflects:
О Increased sales of higher-margin para-pharmacy
products
О
the expansion of the pharmacy chain and the
gradual increase in customer traffic at recently
launched stores.
Gross profit margin down 0.4 ppts y-o-y to 28.3%
in 4Q23 (up 0.4 ppts y-o-y to 29.7% in FY23).
The expansion also led to an increase in operating
expenses (up 19.4% y-o-y in 4Q23) due to
increased rent and salary costs, translating into a
21.5% decrease in 4Q23 EBITDA (excl. IFRS 16).
The business added 40 pharmacies and 11
franchise stores over the last 12 months.
GEL MILLION
+6.9%
209
224
KEY OPERATING HIGHLIGHTS
Georgia Capital PLC | 1. Excluding IFRS 16.
+4.3%
824
790
-21.5%
EBITDA¹ DEVELOPMENT
GEORGIA
CAPITAL
+0.5%
77
77
20
16
4Q22
4Q23
FY22
FY23
4Q22
4Q23
FY22
FY23
4Q22
VS.
■4Q23
# of pharmacies & franchise stores 384
Same store revenue growth
Change y-o-y
435 +51
384
-8.7%
# of bills issued (mln)
8.5
-1.0% +7.7 ppts
8.2 -3.8%
-0.8%
31.0
Average bill size
18.7
20.6
+10.1%
19.0
FY22
VS.
■FY23
Change y-o-y
435 +51
0.4%
+1.2 ppts
31.3 +0.8%
19.8
+4.5%
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