CGEO Georgia Capital

Edison issues report on Georgia Capital (CGEO)

Edison Investment Research Limited
Edison issues report on Georgia Capital (CGEO)

04-Dec-2024 / 12:14 GMT/BST
The issuer is solely responsible for the content of this announcement.

 

London, UK, 4 December 2024

 

Edison issues report on Georgia Capital (CGEO)

Edison issues report on Georgia Capital (LSE: CGEO).

Georgia Capital’s (GCAP’s) net asset value (NAV) per share increased by 6.2% q-o-q in Q324 in Georgian lari terms (3.3% in sterling). The private portfolio companies performed well operationally, whereas the stock value of GCAP’s holding in Bank of Georgia (BoG) remained flat quarter-on-quarter, after de-rating in Q224 amid political uncertainty. Meanwhile, international strategic investors seem to remain confident in Georgia’s prospects, as highlighted by GCAP’s strong uplift on the disposal of the beer and distribution business to Royal Swinkels, which added 1.8pp to its NAV performance. GCAP continues NAV-accretive buybacks (+2.4pp accretion in Q324) financed by record-high recurring dividends received from the portfolio. However, its shares continue to trade at a wide discount to reported NAV of 48.9% (narrowing slightly versus the one-year average of 54.6%).

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The issuer is solely responsible for the content of this announcement.
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2044255  04-Dec-2024 

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EN
04/12/2024

Underlying

CGEOGeorgia Capital

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Reports on Georgia Capital

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PEO BANK POLSKA KAS...
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PEO BANK POLSKA KASA OPIEKI SA
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KRU KRUK S.A.
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CEZ CEZ AS
ACP ASSECO POLAND SA
HTO HELLENIC TELECOMMUNICATIONS ORGANIZATION SA
CDR CD PROJEKT S.A.
PKO PKO BANK POLSKI S.A.
ISCTR TURKIYE IS BANKASI ANONIM SIRKETI CLASS C
BHW BANK HANDLOWY W WARSZAWIE S.A.
BIMAS BIM BIRLESIK MAGAZALAR A.S.
WIZZ WIZZ AIR HOLDINGS PLC
PZU POWSZECHNY ZAKLAD UBEZPIECZEN SPOLKA AKCYJNA
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LAMDA LAMDA DEVELOPMENT S.A.
GEKTERNA GEK TERNA
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TPS ORANGE POLSKA S.A.
CAI CA IMMOBILIEN ANLAGEN AG
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BRISA BRISA-BRIDGESTONE SABANCI LASTIK SANAYI VE TICARET A.S.
CIMSA CIMENTO SANYAI VE TICARET A.S.
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CCC CCC SA
CCOLA COCA-COLA ICECEK A.S.
DOM DOM DEVELOPMENT SA
RBW RAINBOW TOURS S.A.
ENA ENEA S.A.
BFT BENEFIT SYSTEMS S.A. ALLOTMENT
MGROS MIGROS TICARET A.S
PGSUS.E PEGASUS HAVA TASIMACILIGI AS
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TBCB TBC BANK JOINT STOCK CO
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THYAO TURK HAVA YOLLARI A.O.
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EUR EUROCASH S.A.
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11B 11 BIT STUDIOS S.A.
TPE TAURON POLSKA ENERGIA S.A.
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OTOEL AUTOHELLAS S.A.
VGO VIGO SYSTEM SA
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GPP CTP NV
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