OPEX Ratio Alignment & Portfolio Valuation Overview
AGGREGATED LEVERAGE OVERVIEW ACROSS OUR LARGE
AND INVESTMENT STAGE PORTFOLIO COMPANIES
GEORGIA
CAPITAL
ADJUSTED¹ NET DEBT/EBITDA
DEVELOPMENT OVERVIEW
➤ LTM EBITDA up 21% as at Jun-22 from Dec-19;
➤ Excluding the minority buyout agreement at
Retail (pharmacy), adjusted net debt of large and
investment stage portfolio companies was down
10% as at Jun-22 from Dec-19.
GEL MILLION
3.2x
3.1x
2.8x
2.6x
2.6x
2.6x
2.4x
623
624
603
124
131
89
184
598 186
586 197
516 224
534
235
472
238
499
223
535
Dec-19
Jun-20
Dec-20
Jun-21
Dec-212
Mar-222
Jun-222
LTM EBITDA
-Adjusted Net debt/EBITDA
Adjusted Net debt 1
I Minority buyout agreement at Retail (Pharmacy)
Georgia Capital PLC | General note: Figures for Hospitals, Retail (Pharmacy), Clinics and Diagnostics are given excluding IFRS 16 effects.
1. Adjusted for capital commitments. 2. Includes the application of the minority buyout agreement in the retail (pharmacy) business.
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