Georgia Capital PLC Financial and Operational Report
HOSPITALS BUSINESS
OPERATING PERFORMANCE OVERVIEW
HOSPITALS
KEY DRIVERS
To address the oversupply of beds and
enhance the quality of the healthcare industry
in Georgia, the government introduced a new
facility regulation, effective from September
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 in 12 of its 16
hospitals. During the phased renovation
process, certain sections of the business
facilities were temporarily closed for services
and unable to accept patients, thereby
affecting the revenue and EBITDA.
Georgia Capital PLC | 1. Excluding IFRS 16.
GEL MILLION
+2.6%
REVENUE DEVELOPMENT
67
68
+2.0%
220
216
3Q22
3Q23
9M22
9M23
KEY OPERATING HIGHLIGHTS
3Q22
VS.
■ 3Q23
Number of admissions ('000)
287.5
Bed occupancy rate (%)
43.6%
EBITDA¹ DEVELOPMENT
-3.8%
GEORGIA
CAPITAL
38
37
-12.3%
10
9
3Q22
3Q23
9M22
9M23
Change y-o-y
253.9
-11.7%
903.9
48.4%
+4.8ppts
52.1%
9M22
VS.
■ 9M23
Change y-o-y
801.8
-11.3%
53.2% +1.1ppts
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