OPEX Ratio Alignment & Portfolio Valuation Overview
INCOME STATEMENT | 2Q22 & 1H22
Income statement
GEL '000, unless otherwise noted
2Q22
2Q21
Change
1H22
1H21
Change
Dividend income
32,226
9,691
NMF
34,421
14,430
NMF
Interest income
9,364
6,120
53.0%
18,150
10,617
71.0%
Realised/unrealised (loss)/ gain on liquid funds
(1,197)
1,687
NMF
(11,435)
1,516
NMF
Interest expense
(17,826)
(20,302)
-12.2%
(37,679)
(37,520)
0.4%
Gross operating income/(loss)
22,567
(2,804)
NMF
3,457
(10,957)
NMF
Operating expenses
GCAP net operating income/(loss)
(10,395)
(9,225)
12.7%
(19,700)
(18,096)
8.9%
12,172
(12,029)
NMF
(16,243)
(29,053)
-44.1%
Fair value changes of portfolio companies
Listed and observable portfolio companies
(4,152)
70,288
NMF
(211,859)
43,836
NMF
Bank of Georgia Group PLC
Water Utility
(17,760)
70,288
NMF
(225,467)
43,836
NMF
13,608
NMF
13,608
NMF
Private portfolio companies
Large Portfolio Companies
Of which, Retail (pharmacy)
Of which, Hospitals
(42,520)
251,933
NMF
(287,828)
282,183
NMF
(21,396)
197,356
NMF
(163,928)
201,855
NMF
13,948
44,816
-68.9%
(39,358)
27,657
NMF
(46,250)
64,276
NMF
(95,769)
90,889
NMF
Of which, Water Utility
91,100
NMF
76,097
NMF
Of which, Insurance (P&C and Medical)
10,906
(2,836)
NMF
(28,801)
7,212
NMF
Investment Stage Portfolio Companies
(3,536)
48,976
NMF
(19,219)
54,115
NMF
Of which, Renewable energy
8,050
13,072
-38.4%
(2,002)
7,632
NMF
Of which, Education
16,385
19,443
-15.7%
20,741
23,207
-10.6%
Of which, Clinics and Diagnostics
(27,971)
16,461
NMF
(37,958)
23,276
NMF
Other businesses
(17,588)
5,601
NMF
(104,681)
26,213
NMF
Total investment return
(46,672)
322,221
NMF
(499,687)
326,019
NMF
(Loss)/income before foreign exchange movements
(34,500)
310,192
NMF
(515,930)
296,966
NMF
and non-recurring expenses
Net foreign currency loss
18,172
Non-recurring expenses
Net (loss)/income (adjusted IFRS)
(104)
(16,432)
57,988
(41)
368,139
-68.7%
NMF
NMF
14,448
(196)
(501,678)
26,547
-45.6%
(218)
-10.1%
323,295
NMF
GEORGIA
CAPITAL
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