Georgia Capital PLC 4Q20 and FY20 Results

TBILISI, Georgia–(BUSINESS WIRE)–Georgia Capital PLC (the �Group“) has published today its fourth quarter and the full year 2020 preliminary financial results.

KEY POINTS

? 27.2% growth in 4Q20 NAV per share (GEL) on the back of strong value creation across our resilient and defensive private portfolio and a 36.6% increase in BoG share price during the quarter

? 2.7% growth in FY20 NAV per share (GEL), primarily driven by the first time valuation of investment stage businesses and GHG, as a wholly owned private company, following its minority buy-out in 3Q20 (+30.4% impact, in aggregate)

• FY20 NAV per share was negatively impacted by reduced valuation of “other” private portfolio companies due to the COVID-19 outbreak (-12.4% impact) and FX loss on GCAP net debt (-5.2% impact)

? Controllable (private) NAV per share adjusted for GHG transfer was up 25.9% to GEL 33.15 in 4Q20 (up 30.2% in FY20)

? Strong 2020 results across our private portfolio, despite the negative headwinds from the pandemic

• Aggregated revenues and EBITDA up 5.1% and 1.0% y-o-y, respectively, in 4Q20 (up 6.4% and 4.1% in FY20)
• Outstanding growth in aggregated net operating cash flow generation, up 63.0% y-o-y in FY20 to GEL 375.7m
• Aggregated cash balances of portfolio companies more than doubled in FY20 to GEL 392m at 31-Dec-20 (GEL 361m at 30-Sep-20 and GEL 183m at 31-Dec-19)

? GEL 15m dividends collected from private businesses in 4Q20 (GEL 30m in FY20)

? GCAP liquidity remained solid at GEL 284m, up 6.4% in 4Q20; down y-o-y (mainly cash investments and coupon payment)

Management Commentary

“2020 was a challenging year managing the significant impact of the COVID-19 pandemic. Despite a number of important measures taken by the Government of Georgia, an unprecedented fiscal stimulus around the globe and strong international support, the pandemic quickly affected many businesses in Georgia and the country’s GDP has declined precipitously. Notwithstanding the pandemic driven headwinds, with the majority of our capital allocated to defensive industries and sectors, Georgia Capital has demonstrated great resilience and delivered a strong performance in 4Q20 and FY20.”

The results announcement together with the supplementary financial information (excel file) and investor presentation is available on the Group’s website at https://georgiacapital.ge/ir/financial-results. An investor/analyst webinar, organised by the Group, will be held today at 13:00 UK / 14:00 CET / 8:00 U.S Eastern Time. The duration of the webinar will be 60 minutes and will consist of a 30-minute update and a 30-minute Q&A session.

Webinar instructions:

Please click the link to join the webinar:

https://gcap-ge.zoom.us/j/94455130942?pwd=Mk1qREVCUTNLL0xaSk0rVWsyeGdVUT09
Webinar ID: 944 5513 0942

Passcode: 904420

Or use the following international dial-in numbers available at: https://gcap-ge.zoom.us/u/absyBUXGci
Webinar ID: 944 5513 0942

Passcode: 904420

Participants, who will be joining through the webinar, can use the “raise hand” feature at the bottom of the screen to ask questions. Participants, who will be joining through the international dial-in number, can dial *9 to raise hand and ask questions.

This announcement contains forward-looking statements, including, but not limited to, statements concerning expectations, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, competitive strengths and weaknesses, plans or goals relating to financial position and future operations and development. Although Georgia Capital PLC believes that the expectations and opinions reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations and opinions will prove to have been correct.

Contacts

Irakli Gilauri
Chairman and Chief Executive

ir@gcap.ge

Giorgi Alpaidze
Chief Financial Officer

+995 322 005 000

ir@gcap.ge

Nino Rekhviashvili
Head of Investor Relations

+995 322 005 045

ir@gcap.ge