OPEX Ratio Alignment & Portfolio Valuation Overview
OUR PORTFOLIO OVERVIEW AS AT 30-JUN-22
LISTED AND OBSERVABLE
PORTFOLIO
Value: GEL 609m
PRIVATE PORTFOLIO
Value: GEL 2,097m
23% of the total portfolio value
77% of the total portfolio value
BANK OF
GEORGIA
Value: GEL 456m
Ownership: 19.9%¹
WATER
UTILITY
Value: GEL 153m
Ownership: 20%
LARGE PORTFOLIO COMPANIES
NON-CYCLICAL BUSINESSES, CLOSE TO GEL 300 MLN+ VALUE
RETAIL
(PHARMACY)
Value: GEL 671m
Ownership: 77%²
HOSPITALS
Value: GEL 478m
Ownership: 100%
INVESTMENT STAGE PORTFOLIO COMPANIES
NON-CYCLICAL BUSINESSES, WITH POTENTIAL TO BECOME GEL 300 MLN+ IN VALUE
RENEWABLE
ENERGY
EDUCATION
金
INSURANCE
(P&C AND MEDICAL)
Value: GEL 240m
Ownership: 100%
&
CLINICS AND
DIAGNOSTICS
Value: GEL 172m
Ownership: 100%
Value: GEL 152m
Ownership: 70-90%
Value: GEL 120m
Ownership: 100%
OTHER
BUSINESSES
Value: GEL 264m
LIMITED POTENTIAL TO BECOME
GEL 300 MLN+ IN VALUE
Georgia Capital PLC | 1. Following BoG's share buybacks, GCAP's holding in the Bank increased to 20.0% as of 11-Aug-22 from 19.9% as of 30-Jun-22. 2. In October 2021, GHG signed a share purchase
agreement to acquire the remaining minority interest in its retail (pharmacy) business by 2027. The buyout will be executed in six annual tranches at a 5.25x EV/EBITDA multiple. For details, please see
page 12 of our Annual Report 2021. 3. GCAP's has a put option on the remaining 20% equity interest in the water utility business, which becomes exercisable in 2025-2026.
GEORGIA
CAPITALView entire presentation