Georgia Capital PLC (GRGCF) Q2 2026 Earnings Call Transcript

SA Transcripts 161.48K Followers Follow Georgia Capital PLC ( GRGCF ) Q2 2026 Earnings Call August 4, 2026 9:00 AM EDT Company Participants Irakli Gilauri - Chairman & CEO Tornike Nikolaishvili Giorgi Alpaidze - CFO & Deputy CEO Giorgi Berishvili - Head of Internal Audit Conference Call Participants Dmitry Vlasov - Wood & Company Financial Services, a.s., Research Division Benjamin Maher - Keefe, Bruyette, & Woods, Inc., Research Division Presentation Irakli Gilauri Chairman & CEO Hello, everybody. Welcome to our Q2 earnings call. I am pleased to host this summer day with our very strong results. So let me summarize the agenda for today. I will talk about the overall performance of first half and Q2 and first half 2026. We will turn to our CEOs of our large portfolio companies, Tornike, Giorgi, and Irakli, CEOs of respective Pharmacy, Insurance, and the Healthcare businesses will talk about their results. Giorgi, our CFO, will talk about the valuations of our portfolio companies, he will talk about liquidity and dividend income outlook. As traditionally, I will do a wrap-up followed by a Q&A session. Let me start with the highlights first. As you all know, our Q1 NAV was strong, up 13% to around more than GBP 50. It was driven primarily by the Lion Finance Group share price increase and private portfolio companies' great operating results, which basically recorded almost record-high revenue growth of nearly 20% and we are observing the acceleration of the revenue growth. We are also pleased to dispose our Housing business, which basically decreased the leverage on our other portfolio companies significantly. The debt to EBITDA of our other portfolio companies went to nearly 4x- 2x . Our deleveraging story continues, I will talk about the leverage later in the presentation because it's one of the important milestones which we are achieving, meaning deleveraging not only the Holdco but also portfolio companies. Again, the NCC ratio