Good portfolio performance drives 2025 Georgia Capital results
Georgia Capital PLC on Tuesday announced strong yearly results and announced a new buyback programme, thanks to good performances by large companies in its portfolio.
On December 31, the net asset value was reported at ₾5.19 billion, around $1.92 billion, a 44% yearly increase from 2024 despite an almost 11% drop in outstanding shares due to the completion of a $50 million buyback programme.
Consequently, the NAV per share of the London-listed Georgian business investment vehicle grew 61% in a year to ₾154.68, equal to £42.44, from ₾95.95.
Total return also grew over sixfold to ₾1.78 billion in 2025 from ₾233.6 million, although the company notes it had to deduct ₾71.9 million from it due to the impact of the Imedi L litigation, with ₾27.2 million already deducted previously.
Georgia Capital said underlined ‘outstanding’ operational performances in their retail pharmacy, insurance, and healthcare businesses, all growing by over 10% year-on-year, in addition to an ‘exceptional’ performance by its investment in Lion Finance Group, whose share price almost doubled in 2025.
The company also announced a new $50 million buyback programme which will see shares bought on the open market on a monthly basis with the purpose of reducing its share capital. The price paid will not however exceed the amount of the NAV per share.
Georgia Capital Chair and Chief Executive Officer Irakli Gilauri said the fourth quarter performance ‘underscores the quality and resilience of our portfolio, translating operational momentum into tangible shareholder value through consistent capital returns’.
He added: ‘Supported by a resilient macroeconomic backdrop, Georgia continues to deliver sustained growth, with preliminary GDP per capita projected to exceed $10,000 in 2025, more than doubling from 2020 levels. Looking ahead, I am confident that Lion Finance Group’s exceptional performance in Georgia and Armenia, robust growth across our private portfolio companies through sustained revenue and Ebitda growth, significant deleveraging at the Georgia Capital holding level to a net cash position, and strong cash generation, enabling us to capitalise on shares trading at a discount through share buybacks, will continue to drive consistently robust NAV per share growth.’
Georgia Capital shares were up 1.5% to 3,425.00 pence each on Tuesday morning in London.
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