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| GEL thousands | 2019¹ | 2020² | 2021³ | 2022 | 2023 | 2024⁴ | 2025⁵ |
|---|---|---|---|---|---|---|---|
| P&L Items | |||||||
| Revenue | Register | Register | Register | Register | 87,635 | Register | Register |
| Adj. Operating Profit⁶ | Register | Register | Register | Register | 2,505 | Register | Register |
| Adj. EBITDA⁶ | Register | Register | Register | Register | 8,354 | Register | Register |
| Net Income | Register | Register | Register | Register | (2,452) | Register | Register |
| Margins & Profitability Ratios (%) | |||||||
| Adj. Operating Profit Margin⁶ | Register | Register | Register | Register | 2.9% | Register | Register |
| Adj. EBITDA Margin⁶ | Register | Register | Register | Register | 9.5% | Register | Register |
| Net Income Margin | Register | Register | Register | Register | -2.8% | Register | Register |
| Balance Sheet Items & Leverage | |||||||
| Total Assets | Register | Register | Register | Register | 235,622 | Register | Register |
| Total Debt⁷ | Register | Register | Register | Register | 88,874 | Register | Register |
| Total Debt⁷ / Adj. EBITDA⁶ | Register | Register | Register | Register | 10.64x | Register | Register |
| Total Equity | Register | Register | Register | Register | 139,730 | Register | Register |
| ROAE | Register | Register | Register | Register | -1.7% | Register | Register |
¹ Results include a GEL 120.1m impairment of the terminated Gardabani coal-fired plant project (C Power), shown below operating profit; GEL 11.6m of loans and receivables forgiven to a related party were booked directly in equity.
² Dividends show GEL 3.7m paid in cash. A further GEL 10.2m of dividends declared to the parent was settled by offset against a loan to the parent, with no cash outflow.
³ Operating profit excludes a GEL 10.1m loss on a related-party loan assignment (Saknakhshiri), shown as non-operating.
⁴ Includes a GEL 23.8m impairment of equipment from the terminated Gardabani coal-plant project (non-operating) and a GEL 20.4m equity charge on modified related-party loans.
⁵ Operating profit excludes a GEL 8.5m expense from a court ruling against subsidiary Neogaz, shown as non-operating.
⁶ Adj. Operating Profit has been adjusted to exclude non-recurring and one-time items. Adj. EBITDA is calculated by adding back D&A expenses to the adjusted operating profit.
⁷ Total debt includes lease liabilities, where applicable.