Investor Presentaiton
m² financial highlights
Income statement
GEORGIA
CAPITAL
Housing development
Change
Change
GEL thousands, unless otherwise noted
1Q18
1Q17
4Q17
1Q18
1Q17
y-o-y
q-o-q
Hospitality
Change
y-o-y
Consolidated¹
Change
Change
Change
4Q17
1Q18
1Q17
4Q17
q-o-q
y-o-y
q-o-q
Revenue from apartments sales
27,861
Cost of apartments
(24,939)
Gross profit from apartments sales
2,922
18,399
(17,109)
1,290
51.4%
45.8%
126.5%
30,788
(9.5%)
27,861
18,399
51.4%
30,788
(9.5%)
(26,890)
(7.3%)
(24,939)
(17,109)
45.8%
(26,890)
(7.3%)
3,898 (25.0%)
2,922
1,290
126.5%
3,898
(25.0%)
Revenue from operating lease
1,001
899
11.3%
986
1.5%
1,001
899
11.3%
986
1.5%
Cost of operating leases
(151)
(83)
81.9%
(135)
11.9%
(151)
(83)
81.9%
(135)
11.9%
Gross profit from operating leases
850
816
4.2%
851
(0.1%)
850
816
4.2%
851
(0.1%)
Revenue from hospitality services
344
NMF
NMF
344
NMF
NMF
Cost of hospitality services
(277)
NMF
NMF
(277)
NMF
NMF
Gross profit from hospitality services
67
NMF
NMF
67
NMF
NMF
Revaluation of commercial property
479
NMF
99
NMF
(618)
NMF
479
NMF
(519)
NMF
Gross real estate profit
2,922
1,769
Other income
178
11
Gross profit
3,100
1,780
65.2%
NMF
74.2%
3,997
(26.9%)
917
816
12.4%
233
NMF
3,839
56
NMF
9
NMF
NMF
90
2,585
11
48.5%
4,230
(9.2%)
NMF
56
60.7%
4,053
(23.5%)
926
816
13.5%
233
NMF
3,929
2,596
51.3%
4,286
(8.3%)
Salaries and other employee benefits
(829)
Administrative expenses
(1,426)
(396)
(1,336)
109.3%
(939)
(11.7%)
(318)
(11)
NMF
(256)
24.2%
(1,147)
(407)
NMF
(1,195)
(4.0%)
6.7%
(1,459)
(2.3%)
(48)
(91)
Operating expenses
(2,255)
(1,732)
EBITDA
845
48
Depreciation and amortization
(134)
(63)
30.2%
NMF
112.7%
(2,398)
(6.0%)
(366)
(102)
(47.3%)
NMF
(41)
17.1%
(1,474)
(1,427)
3.3%
(1,500)
(1.7%)
(297)
23.2%
(2,621)
(1,834)
42.9%
(2,695)
(2.7%)
1,655
(48.9%)
560
714
(21.6%)
(64)
NMF
1,308
762
71.7%
1,591
(17.8%)
(305)
(56.1%)
(5)
(3)
66.7%
(10)
(50.0%)
(139)
(66)
110.6%
(315)
(55.9%)
Net foreign currency (loss) gain
(297)
(184)
61.4%
89
NMF
(10)
(10)
5
NMF
(307)
(194)
58.2%
94
NMF
Interest income
99
182
(45.6%)
151
(34.4%)
3
7
(57.1%)
(6)
(150.0%)
102
189
(46.0%)
145
(29.7%)
Interest expense
(2)
NMF
(41)
(46)
(10.9%)
(47)
(12.8%)
(41)
(48)
(14.6%)
(47)
(12.8%)
Net operating income (loss) before
513
(19)
NMF
1,590
(67.7%)
507
662
(23.4%)
(122)
NMF
923
643
43.5%
1,468
(37.1%)
non-recurring items
Net non-recurring items
(31)
(73)
(57.5%)
(191)
(83.8%)
(1)
Profit before income tax
482
(92)
NMF
1,399
(65.5%)
506
(3)
659
(66.7%)
(23.2%)
(6)
(128)
(83.3%)
(32)
(76)
(57.9%)
(197) (83.8%)
NMF
891
567
57.1%
Income tax expense
(468)
NMF
(13)
NMF
1,271
(481)
(29.9%)
NMF
Profit
482
(92)
NMF
931
(48.2%)
506
659
(23.2%)
(141)
NMF
891
567
57.1%
790
12.8%
1 includes inter-segment eliminations
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