Georgia Capital PLC Financial and Operational Report
Private large
portfolio companies
EXTERNALLY VALUED
RETAIL (PHARMACY) BUSINESS OVERVIEW (CONT'D)
REVENUE
Gross profit margin (%)
24.5% 25.5% 25.5% 25.4% 26.0% 29.3% 29.7% 31.0% 29.5% 30.2%
GEORGIA
CAPITAL
AVERAGE BILL SIZE & NUMBER OF BILLS ISSUED
Number of bills issued, million
25.3 27.1 28.8 27.6 29.0 31.0 7.5 7.6 22.5 23.1
Same store growth (%)
Margin enhancement and
strong growth in para-
pharmacy sales:
Para-pharmacy sales have the strongest
margins and the share of para-pharmacy
sales in retail revenue reached 39.6% as
of 3Q23 (37.4% as of 3Q22).
GEL million
782.4 789.9
679.4
614.7
518.6
450.3
+3.3%
600.1
580.7
+5.2%
189.8 199.6
GEL million
7.9% 8.5% 9.0%
6.1% 10.6% -0.8% -3.1% 3.5% 2.2% 1.0%
+2.5%
+6.7%
18.9 19.0
14.3
16.8
18.8
20.0 19.1 19.5
13.3
13.4
GEL 0.4m
GEL 18.2m
2017
2018 2019 2020
2021
2022 3Q22 3Q23 9M22 9M23
2017
CASH FLOW
3Q23
9M23
HIGHLIGHTS1
Operating
Number of pharmacies
countrywide
296
381
2018 2019 2020 2021 2022 3Q22 3Q23 9M22 9M23
344
359
EBITDA¹
NET DEBT & NET DEBT TO LTM EBITDA1
cash flow
Operating leverage¹(%)
Change y-o-y
-97.7%
-66.7%
10.1% 10.6% 10.4% 9.7% 9.7%
NMF 7.8% 4.1% -1.4% -6.7% -7.8% -11.5% 2.8% -8.7% 1.4%
EBITDA margin¹ (%)
8.6%
9.5% 10.5% 9.7% 10.2%
177.2
EBITDA to
cash
2.1%
29.6%
conversion
+8.5%
Change y-o-y
-104.6ppts
-66.8ppts
Free cash flow
Change y-o-y
GEL
-10.6m
NMF
GEL
-76.8m
GEL million
70.4
76.2 76.9
65.3
+15.6%
52.2
56.5
61.3
38.9
20.9
18.1
GEL million
83.1
77.7
64.8
46.3
2.0
2.2
1.6
1.0
39.3
0.6
33.4
14.3
0.4
0.6
0.2
NMF
2017 2018 2019 2020 2021
2022 3Q22 3Q23 9M22 9M23
2017
2018 2019
2020 2021 2022 9M22 9M23
51
Georgia Capital PLC | 1. Excluding IFRS16 impact.View entire presentation