Portfolio and Acquisitions Summary 2019
2H19 NAV overview
GEL thousands unless otherwise noted
Jun-19
1. Value
creation
2a.
2b. Buybacks
3. Operating
2c. Dividends
Investments
expenses
4. Liquidity
management/ FX
/Other
Dec-19
Change %
Listed Portfolio Companies
GHG¹
1,194,712
661,413
(279,754)
112,856
1,027,814
-14.0%
(344,190)
112,856
430,079
-35.0%
BOG'
533,299
64,436
597,735
12.1%
Private Portfolio Companies
1,042,811
67,540
181,460
(66,542)
1,225,269
17.5%
Late Stage
681,973
77,315
(66,542)
692,746
1.6%
Water Utility
459,706
46,264
(22,000)
483,970
5.3%
Housing Development
60,858
23,504
(40,509)
43,853
-27.9%
P&C Insurance
161,409
7,547
(4,033)
164,923
2.2%
Early Stage
314,901
(10,510)
135,086
439,477
39.6%
Renewable Energy
62,737
44,063
106,800
70.2%
Hospitality and Commercial RE
182,431
2,841
60,286
245,558
34.6%
Beverages
69,733
(13,351)
30,737
87,119
24.9%
Of which, wine
59,633
(3,689)
16,098
72,042
20.8%
Of which, beer
10,100
(9,662)
14,639
15,077
49.3%
Pipeline
Education
45,937
735
46,374
93,046
102.6%
11,209
45,141
56,350
NMF
Auto Service
24,363
1,394
25,757
5.7%
Digital Services
8,790
8,790
0.0%
Other
1,575
(659)
1,233
2,149
36.4%
Total Portfolio Value (1)
2,237,523
(212,214)
294,316
(66,542)
2,253,083
0.7%
Net Debt (2)
(304,519)
(150,318)
(66,046)
39,916
(10,301)
(2,297)
(493,565)
62.1%
of which, Cash and liquid funds
323,959
(145,679)
(66,046)
39,916
(10,301)
70,040
211,889
-34.6%
of which, Loans issued
232,289
(4,639)
(75,766)
151,884
-34.6%
of which, Gross Debt
(860,767)
3,429
(857,338)
-0.4%
Net other assets/ (liabilities) (3)
of which, share based compensation
5,361
(31,142)
1,200
26,626
(7,481)
(214)
(5,650)
NMF
(7,481)
7,481
Net Asset Value (1)+(2)+(3)
NAV change %
1,938,365
(212,214)
-10.9%
112,856
5.8%
(64,846)
-3.3%
(17,782)
-0.9%
(2,511)
-0.1%
1,753,868
-9.5%
-9.5%
Shares outstanding
Net Asset Value per share
35,961,403
53.90
NAV per share change %
(5.90)
-10.9%
3,435,438
(1.83)
-3.4%
(1,954,870)
1.23
(0.49)
(0.07)
2.3%
-0.9%
-0.1%
37,441,971
46.84
-13.1%
4.1%
-13.1%
(1)
Number of shares owned in BoG and GHG were 9,784,716 and 93,011,414 shares, respectively.
GEORGIA
CAPITAL
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