Investor Presentaiton slide image

Investor Presentaiton

Housing development business financial highlights Income statement GEORGIA CAPITAL Statement of cash flow Balance sheet GEL thousands, unless otherwise noted FY19 FY18 Change GEL thousands, unless otherwise noted FY19 FY18 Change GEL thousands, unless otherwise noted Dec-19 Dec-18 Change Gross profit from apartments sale 7,611 15,882 Gross profit from construction 7,601 5,334 -52.1% 42.5% Proceeds from sales of apartments 51,566 80,692 Outflows for development (33,645) (76,566) management Net proceeds from construction services 6,751 (207) Other income 582 157 Gross Real Estate Profit 15,794 Revaluation of commercial property¹ Operating expenses (19,260) EBITDA (3,466) Net operating income before non- recurring items (13,401) 21,373 5,524 (10,903) 15,994 8,391 NMF -26.1% Cash paid for operating expenses (20,162) (14,073) -36.1% -56.1% NMF 43.3% Cash and cash equivalents 13,695 8,833 55.0% Amounts due from credit institutions Investment securities Income tax paid (13,458) NMF Accounts receivable and other loans Prepayments 1,907 909 15,773 6,063 1,634 16.7% 512 77.5% NMF NMF 76.6% Net cash flows from operating activities (8,948) (10,154) 11.9% Inventories Capital expenditure on investment property and PPE (1,123) (13,666) -91.8% Investment property NMF Loans issued (493) (25) NMF Land bank NMF Acquisition of subsidiaries (10,823) NMF Net non-recurring items Profit (3,019) (16,796) (6,224) -51.5% Net cash flows used in investing activities (12,439) (13,691) -9.1% Commercial real estate Property and equipment 2,167 NMF Net Intersegment loans received/(issued) (3,867) 37,760 NMF Other assets Proceeds from debt securities issued 105,660 NMF Total assets Repayment of debt securities issued (74,143) NMF Contributions under share-based payment plan (997) (1,280) -22.1% Amounts due to credit institutions Debt securities issued Proceeds from borrowings 32,065 41,615 -22.9% Deferred income Repayment of borrowings (5,935) (42,465) -86.0% Other liabilities Interest paid (13,850) (9,035) 53.3% Total liabilities Cash paid for lease liabilities (1,736) NMF Total equity Dividend paid (10,000) (10,000) NMF Total liabilities and equity 45,539 33,976 34.0% 97,075 102,923 -5.7% 1,640 52,603 -96.9% 1,552 8,722 -82.2% 88 43,881 -99.8% 20,669 8,232 NMF 26,528 33,833 -21.6% 223,735 248,609 -10.0% 75,368 46,069 63.6% 101,065 67,697 49.3% 27,792 23,295 19.3% 24,167 46,175 -47.7% 228,392 183,236 24.6% (4,657) 65,373 NMF 223,735 248,609 -10.0% Net cash flows from financing activities 27,197 16,595 63.9% Exchange (losses)/gains on cash equivalents (675) (2,342) -71.2% Total cash inflow/(outflow)² 5,135 (9,592) NMF Cash, beginning balance 10,467 20,059 -47.8% Cash, ending balance 15,602 10,467 49.1% (1) Value created on commercial property. (2) Net cash flow includes amounts due from credit institutions. Page 88
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