AP NEWS
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.
PRESS RELEASE from provider: Business Wire
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

Georgia Capital PLC Announces the Group’s Second Half and Full Year 2018 Financial Results

February 21, 2019

TBILISI, Georgia--(BUSINESS WIRE)--Feb 21, 2019--Georgia Capital PLC (“the Group”) has published today its second half and the full year 2018 financial results. The results announcement together with the supplementary financial information is available on the Group’s website at https://georgiacapital.ge/ir/financial-results. Georgia Capital PLC 2H18 & FY18 results presentation is available on the Group’s website at https://georgiacapital.ge/ir/presentations. An investor/analyst conference call, organised by the Group, will be held on 21 February 2019, at 15:00 UK / 16:00 CET / 10:00 U.S Eastern Time. The duration of the call will be 60 minutes and will consist of a 15-minute update and a 45-minute Q&A session.

Management Commentary

“2018 was the first year for Georgia Capital as an independent premium listed company on the London Stock Exchange, following the completion of our demerger from BGEO Group PLC on 29 May 2018. During 2018 we remained focused on developing and instutionalising our diverse set of businesses in Georgia, while also building on our 3C foundations by improving access to capital, focusing on cash generation and developing C level talent. As discussed in our last trading update, we are now introducing management estimated fair values of our private portfolio businesses. These fair values, which form an integral part of our FY18 management NAV statement, have been estimated based on the valuation multiples of carefully selected listed peer companies in comparable frontier and emerging market countries.“

2H18 & FY18 performance highlights

Outlook

Economic activity in Georgia continues to grow and our outlook remains positive for 2019. Asset prices have improved since the end of 2018, thereby increasing the value of our listed portfolio companies and NAV per share to GEL 1.1 billion and GEL 51.5 per share (an equivalent of GBP 15.0), respectively, as of the close of business on 20 February 2019. We expect continued strong cash flow generation across our late stage businesses, while within the early state portfolio we are on track to commission our first hydro power plant, open two new hotels in the Gudauri and Svaneti regions, fully launch our brewery and open all periodic vehicle inspection centres. We remain well positioned to take advantage of attractive opportunities with clear discipline, and to create sustainable long-term value for our shareholders.

Conference call details

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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190221005374/en/

CONTACT: Irakli Gilauri

Chairman and Chief ExecutiveGiorgi Alpaidze

Chief Financial Officer

+995 322 005 000

giorgi.alpaidze@gcap.geNino Rekhviashvili

Head of Investor Relations

+ 995 322 005 045

ir@gcap.ge

KEYWORD: ASIA PACIFIC GEORGIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE

SOURCE: Georgia Capital PLC

Copyright Business Wire 2019.

PUB: 02/21/2019 05:00 AM/DISC: 02/21/2019 05:01 AM

http://www.businesswire.com/news/home/20190221005374/en