Portfolio Valuation and Ameriabank Acquisition Update
NAV STATEMENT | FY23
GEORGIA
CAPITAL
2a.
GEL thousands unless otherwise noted
31-Dec-22 1.Value Creation
Investments and
Divestments
2b. Buybacks
2c. Dividends
3.Operating
Expenses
4. Liquidity
Management/ FX /
Other
31-Dec-23
Change %
Listed and Observable Portfolio Companies
BOG
Water Utility
830,463
549,255
(153,871)
155,000
Listed and Observable Portfolio Value
985,463
4,000
553,255
1,225,847
159,000
47.6%
2.6%
Listed and Observable Portfolio value change %
56.1%
0.0%
0.0%
(153,871)
-15.6%
1,384,847
40.5%
0.0%
0.0%
40.5%
Private Portfolio Companies
Large portfolio companies
1,437,610
74,786
(76,825)
Retail (pharmacy)
724,517
39,397
Hospitals
Insurance
433,193
(81,526)
279,900
116,915
Of which, P&C Insurance
228,045
71,447
Of which, Medical Insurance
51,855
45,468
Investment stage companies
501,407
47,044
18,388
Renewable energy
224,987
38,684
6,218
(50,904)
(6,018)
(19,903)
(14,888)
(5,015)
(5,187)
(5,187)
660
991
(1,293)
1,436,231
-0.1%
714,001
-1.5%
344,356
-20.5%
962
377,874
35.0%
962
285,566
25.2%
92,308
78.0%
4,962
566,614
13.0%
1,925
266,627
18.5%
Education
164,242
12,282
12,170
532
189,226
15.2%
Clinics and diagnostics
112,178
(3,922)
2,505
110,761
-1.3%
Others
274,147
5,430
32
4,644
284,253
3.7%
Private Portfolio Value
2,213,164
127,260
Private Portfolio value change %
5.8%
18,420
0.8%
(82,012)
10,266
2,287,098
3.3%
0.0%
Total Portfolio Value
3,198,627
680,515
Total Portfolio value change %
21.3%
Net Debt
(380,905)
of which, Cash and liquid funds
411,844
18,420
0.6%
(20,887)
(20,887)
0.0%
(76,190)
(76,190)
-3.7%
(235,883)
-7.4%
235,883
235,883
0.0%
0.5%
3.3%
0.0%
(21,786)
10,266
0.3%
(32,923)
3,671,945
14.8%
14.8%
(296,808)
-22.1%
(21,786)
(420,954)
107,910
-73.8%
of which, Loans issued
of which, Gross Debt
Net other assets/ (liabilities)
Share based compensation
Net Asset Value
NAV change %
Shares outstanding
26,830
(17,618)
9,212
-65.7%
(819,579)
405,649
(413,930)
-49.5%
(331)
2,467
(287)
(14,993)
16,519
3,375
NMF
(14,993)
14,993
NMF
2,817,391
680,515
24.2%
0.0%
(76,477)
-2.7%
(36,779)
(6,138)
3,378,512
19.9%
0.0%
-1.3%
-0.2%
19.9%
42,973,462
(2,817,070)
580,136
Net Asset Value per share
65.56
15.84
0.00
2.70
0.00
(0.85)
(0.30)
40,736,528
82.94
-5.2%
26.5%
NAV per share change %
24.2%
0.0%
4.1%
0.0%
-1.3%
-0.5%
26.5%
Net Asset Value per share (GBP)
20.12
4.74
0.00
0.81
0.00
(0.26)
(1.18)
24.23
20.4%
NAV per share (GBP) change %
23.5%
0.0%
4.0%
0.0%
-1.3%
-5.9%
20.4%
91
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