Portfolio Valuation and Ameriabank Acquisition Update
HOSPITALS BUSINESS
OPERATING PERFORMANCE OVERVIEW
REVENUE DEVELOPMENT1
HOSPITALS
KEY DRIVERS
To address the oversupply of beds and
enhance the quality of the healthcare industry
in Georgia, the government introduced new
facility regulation rules, in 2023. This
regulation establishes upgraded standards for
healthcare facilities and imposes limitations on
space allotted per hospital bed.
To meet the new standards, the business
initiated renovation projects during which
certain sections of the business facilities were
temporarily closed for services and unable to
accept patients, thereby affecting the revenue
and EBITDA.
GEL MILLION
4Q22
-1.4%
■Large and specialty hospitals
Regional and community hospitals
KEY OPERATING HIGHLIGHTS
+0.2%
315
315
116
111
EBITDA² DEVELOPMENT
57
GEORGIA
CAPITAL
-18.7%
46
46
21
12
-49.0%
79
78
15
30
26
8
6
49
52
199
205
36
34
9
7
4Q23
FY22
FY23
4Q22
4Q23
FY22
FY23
■Large and specialty hospitals
Regional and community hospitals
Change y-o-y
4Q22
Bed occupancy rate
VS.
■ 4Q23
FY22
VS.
■ FY23
Large and specialty hospitals 55.8%
Regional hospitals 52.2%
54.6%
50.3%
-1.2 ppts
55.5%
-1.9 ppts
46.4%
Number of admissions
Large and specialty hospitals
Regional and community hospitals 238.6
138.3
165.5
+19.7%
614.7
209.6
-12.2%
1,025.5
Georgia Capital PLC | General comment: The 2023 numbers, as well as the comparative 2022 figures, take into account the performance of the community clinics, which were previously presented as part
of the clinics and diagnostics business. 1. Total revenue excludes eliminations between the large and specialty and regional and community hospitals. 2. Excluding IFRS 16.
Change y-o-y
53.5% -2.0 ppts
49.4% +3.0 ppts
599.9 -2.4%
868.2 -15.3%
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