Investor Presentaiton
Beer business
GBG STRATEGY
TARGETING FOR 2025...
...RESULTING IN
GEORGIA
CAPITAL
CAGR
1H20
1H21
Growth 2020 2021F 2025F
1
'21-25
Beer sales, '000 HL
117
120
3%
243
247
320
7%
Premiumization on local market
CSD sales, '000 HL
12
31
158%
29
72
207
30%
Price per liter, Beer, GEL
2.3
2.6
13%
2.4
2.6
2.8
2%
Price per liter, CSD, GEL
1.5
1.7
13%
1.6
1.7
1.8
1%
2
Revenue, GELM
21.1
25.5
21%
45.9
55.0
94.3
14%
Focus on CSD exports
Gross profit, GELM
6.7
9.3
39%
17.7
24.5
43.6
16%
(margin %)
31.7%
36.4%
4.8 ppts
38.5%
44.6%
46.2%
1.6 ppts
EBITDA, GELM
0.0
1.5
NMF
2.4
6.0
0.1%
5.8%
5.7 ppts
5.2%
10.9%
20.5
21.7%
36%
3
Strong COST/CAPEX discipline and
improved profitability
targeting 21%+ EBITDA margin
(margin %)
REVENUE
BY 2025
94+
GEL million
EBITDA
BY 2025
10.8 ppts
20+
GEL million
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