Portfolio Valuation and Ameriabank Acquisition Update
NET CAPITAL COMMITMENT (NCC) OVERVIEW
GEORGIA
CAPITAL
NCC RATIO IMPROVED BY 0.3 PPTS
Q-O-Q AND 5.5 PPTS Y-O-Y TO
15.6% AS AT 31-DEC-23
Cash and liquid funds balance up by 7.1%, reflecting the net impact
of robust dividend inflows and share buybacks during the quarter.
Portfolio value up by 5.1% in 4Q23, resulting from the strong value
creation across our portfolio companies.
US$ Million
Cash and liquid funds
Loans issued
Gross debt
Net debt (1)
Guarantees issued (2)
Net debt and guarantees issued (3)=(1)+(2)
Planned investments (4)
31-Dec-22
Change
(y-o-y)
30-Sep-23
Change
(q-o-q)
31-Dec-23
152.4
-73.7%
37.5
7.1%
40.1
9.9
-65.5%
3.3
3.0%
3.4
(303.3)
-49.3%
(150.6)
2.2%
(153.9)
(141.0)
-21.7%
(109.8)
0.5%
(110.4)
(6.8)
NMF
NMF
(147.8)
-25.3%
(109.8)
0.5%
(110.4)
(52.3)
-11.1%
(47.3)
-1.7%
(46.5)
of which, planned investments in Renewable Energy
(30.1)
-3.9%
(29.1)
-0.6%
(28.9)
of which, planned investments in Education
(22.3)
-20.7%
(18.3)
-3.3%
(17.7)
Announced Buybacks (5)
NMF
NMF
(6.7)
Contingency/liquidity buffer (6)
(50.0)
NMF
(50.0)
NMF
(50.0)
Total planned investments, announced buybacks and
contingency/liquidity buffer (7)=(4)+(5)+(6)
(102.3)
0.9%
(97.3)
6.1%
(103.3)
Net capital commitment (3)+(7)
(250.1)
-14.6%
(207.2)
3.1%
(213.6)
Portfolio value¹
NCC ratio
1,183.8
15.3%
1,299.0
5.1%
1,365.3
21.1%
-5.5 ppts
15.9%
-0.3 ppts
15.6%
Georgia Capital PLC | 1. Portfolio value as at 31-Dec-22 includes US$ 10 million shareholder loan provided to Renewable Energy, which was converted into equity in 4Q22.
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