Georgia Capital 3Q23 & 9M23 Performance Overview
RETAIL (PHARMACY) BUSINESS
OPERATING PERFORMANCE OVERVIEW
RETAIL (PHARMACY)
KEY DRIVERS
The y-o-y increase in revenues and EBITDA reflects
the expansion of the pharmacy chain and
franchise stores, along with overall economic
growth in Georgia, partially subdued by:
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The decrease in product prices due to GEL's
appreciation against foreign currencies;
The negative impact of the External Reference
Pricing model;
The decrease in wholesale revenues due to the
impact of new government regulations, which
led to the closure of certain partner pharmacies
in 2023, which our pharmacy business held
wholesale distribution agreements with.
The business added 26 pharmacies and 3 franchise
stores over the last 12 months.
Georgia Capital PLC | 1. Excluding IFRS 16.
GEL MILLION
+5.2%
REVENUE DEVELOPMENT
190
200
581
+3.3%
600
18
+15.6%
EBITDA¹ DEVELOPMENT
21
57
57
GEORGIA
CAPITAL
+8.5%
61
3Q22
3Q23
9M22
9M23
3Q22
3Q23
9M22
9M23
KEY OPERATING HIGHLIGHTS
3Q22
VS.
■3Q23
Change y-o-y
9M22
VS.
9M23
Change y-o-y
# of pharmacies & franchise stores 378
407 +7.7%
378
407
+7.7%
Same store revenue growth
-3.1%
3.5%
+6.6ppts
2.2%
1.0%
-1.2ppts
# of bills issued (mln)
7.5
7.6 +1.1%
22.5
23.1 +2.5%
Average bill size
18.8
20.0 +6.7%
19.1
19.5 +2.5%
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