Georgia Capital Shareholder and Market Opportunity Overview
GEL MILLION
AGGREGATED REVENUE DEVELOPMENT ACROSS PRIVATE
LARGE PORTFOLIO COMPANIES (CONT'D)
REVENUE OF WATER UTILITY UP 22.2% Y-O-Y IN 1Q21,
REFLECTING THE IMPACT OF INCREASED TARIFFS1 SINCE JAN-21
GEORGIA
CAPITAL
TOTAL GROSS PREMIUMS WRITTEN OF P&C AND
MEDICAL INSURANCE UP 21.6% Y-O-Y IN 1Q21
REFLECTING THE REBOUNDING DEMAND TRAJECTORY
+14.8%
+22.2%
38
-14.8%
161
18.3
137
5.9
-68.0%
33
31
0.4
2.4
0.5
31
31
38
-8.0%
143
132
1Q19
1Q20
1Q21
LTM 1Q20
LTM 1Q21
Water supply revenue
Energy revenue
- Total revenue
KEY DRIVERS
GEL MILLION
-3.7%
65
52
+21.6%
63
44
37
31
21
20
20
1Q19
169
99
68
+10.8%
187
74
26
101
113
1Q20
1Q21
LTM 1Q20
LTM 1Q21
Insurance total
Water levels in Zhinvali reservoir up 12.1% y-o-y in water volume (m³) terms in 1Q21,
while strong inflows during April and May lead to y-o-y reservoir level increase by 160.3%
(m³) at 13-May-21, approaching the maximum possible level.
1Q21 water sales volume to commercial customers was down 13.4% y-o-y, however,
volumes have started to show a rebounding trajectory as the economic activities improve.
Georgia Capital PLC | 1. The tariff increase translates into an annual growth of 36.3% in allowed water revenue for the entire water
utility business (c.38% for Georgian Water and Power LLC (GWP)) in the three-year regulatory period effective from 1 January 2021
■ P&C Medical
KEY DRIVERS
Total combined ratio of the P&C and Medical Insurance down by 2.6 ppts y-o-y
in 1Q21
The number of new policies written in the P&C Insurance grew by 26.3% y-o-y
in 1Q21 of which, 15.0% is attributable to the agricultural insurance line.
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