* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2021 0 · FY2022 0 · FY2023 0
LLC British-Georgian Academy (BGA) is a premium international school in Tbilisi (Chavchavadze Avenue), part of Georgia Capital PLC's (LSE: CGEO) education business, which owns ~70%. Acquired in 2019, it teaches children aged 3-18 (~500+ students) on the Cambridge International Curriculum, leading to the IB Diploma or the Georgian National Diploma.
Subsidiary of Georgian Education Group (70.0%)
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | CAGR |
|---|---|---|---|---|---|---|---|---|
| Total Revenue | 5,201 | 6,000 | 11,018 | 20,300 | 25,741 | 29,186 | 31,870 | +35.3% |
| Total COGS | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Gross Profit | 5,201 | 6,000 | 11,018 | 20,300 | 25,741 | 29,186 | 31,870 | +35.3% |
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | |
| 3,264 | 4,000 | 7,292 | 12,808 | 16,259 | 20,219 | 23,705 | +39.2% | |
| EBITDA | 1,937 | 2,000 | 3,726 | 7,492 | 9,482 | 8,967 | 8,165 | +27.1% |
| EBITDA Margin | 37.2% | 33.3% | 33.8% | 36.9% | 36.8% | 30.7% | 25.6% | |
| Total D&A | 657 | 692 | 671 | 789 | 902 | 2,185 | 2,329 | +23.5% |
| EBIT / Operating Income | 1,280 | 1,308 | 3,055 | 6,703 | 8,580 | 6,782 | 5,836 | +28.8% |
| Total Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 249 | nmf |
| Total Interest Expense | 709 | 926 | 483 | 606 | 539 | 1,169 | 678 | -0.7% |
| 96 | 806 | 102 | 975 | 275 | 66 | 79 | nmf | |
| Profit Before Tax | 475 | 424 | 2,674 | 7,072 | 8,316 | 5,679 | 5,486 | +50.3% |
| Total Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Net Profit / (Loss) | 475 | 424 | 2,674 | 7,072 | 8,316 | 5,845 | 5,486 | +50.3% |
| Net Margin | 9.1% | 7.1% | 24.3% | 34.8% | 32.3% | 20.0% | 17.2% |
Shareholders, directors and group links from the companyinfo.ge public register — as filed, so stakes need not sum to 100% where a holding is undisclosed.
Ownership & directors from companyinfo.ge (public corporate registry).
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