Georgia Capital Portfolio Overview
30-Jun-19
53.90
1H19 performance highlights (management accounts)
Georgia Capital NAV overview
GEL thousands, except per share information
NAV per share, GEL¹
Georgia Capital performance
GEL thousands
Total portfolio value creation
31-Dec-18
Change
1H19
44.32
(y-o-y)
21.6%
346,585
NAV per share, GBP1
14.81
13.05
13.5%
of which, listed businesses
245,817
Net Asset Value (NAV)
1,938,365
1,688,221
14.8%
of which, private businesses
100,768
Total portfolio value
2,237,523
1,883,374
18.8%
Gross capital allocations
44,496
Liquid assets & loans issued
556,248
Net debt
(304,519)
605,130
(196,915)
-8.1%
Share buybacks
59,935
54.6%
Cash flow generation at GCAP level
52,063
Expense ratio²
2.0%
Net income
305,627
GEL
NAV per share up 21.6% to GEL 53.9
2.6
(0.8)
7.5%
3.7
14.8 GBP
6.5
(2.4)
13.8 GBP
13.1 GBP
44.3
NAV per share
Valuation gains -
31-Dec-18
listed assets
Valuation gains - Opex & Net interest
private assets
expense & FX loss
50.2
53.9
Buybacks &
Awards
NAV per share
30-Jun-19
Share cancellation &
transfer³
NAV per share
30-Jun-19
(1)
(2)
We calculate NAV per share as total NAV divided by the number of issued shares at the end of the period less unawarded shares in management trust. This represents a change from previously adopted approach, when shares
bought under the buyback programme and unvested management shares were also deducted for NAV per share calculation process.
Last twelve months (LTM) GCAP operating expenses expressed as a percentage of average market capitalization during the last twelve months.
(3) 2,000,000 treasury shares were cancelled and 686,468 treasury shares were transferred to Management Trust on 12 June 2019.
GEORGIA
CAPITAL
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