ID 204517399 · FY 2017–2024 · 8 years
Group parent — controls 2 companies
JSC Georgian Real Estate (m2) was Georgia's largest residential developer — originally spun off from Bank of Georgia and later a Georgia Capital PLC (LSE: CGEO) portfolio company. It develops mass-market and mid-tier apartment projects across Tbilisi and other cities and has issued USD bonds on the GSE. In 2026 Georgia Capital agreed to dispose of its housing-development (m2) business to local investors.
curated 2026-07-13m2.gegeorgiacapital.ge
| Line item | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | 96,519 | 134,483 | 92,461 | 99,510 | 91,309 | 182,420 | 236,469 | 200,655 | +11.0% |
| Total COGS | -85,164 | -107,684 | -71,901 | -72,607 | -89 | -160,752 | -222,273 | -196,687 | +12.7% |
| Gross Profit | 11,355 | 26,799 | 20,560 | 26,903 | 91,220 | 21,668 | 14,196 | 3,968 | -13.9% |
| Gross Margin | 11.8% | 19.9% | 22.2% | 27.0% | 99.9% | 11.9% | 6.0% | 2.0% | |
| Total Operating Expenses | -5,648 | -14,365 | -23,765 | -19,957 | -16,304 | -21,382 | -20,941 | -17,132 | +17.2% |
| EBITDA | 5,707 | 12,434 | -3,205 | 6,946 | 74,915 | 286 | -6,745 | -13,164 | nmf |
| EBITDA Margin | 5.9% | 9.2% | -3.5% | 7.0% | 82.0% | 0.2% | -2.9% | -6.6% | |
| Total D&A | -508 | -972 | -3,347 | -4,098 | -2,011 | -3,205 | -2,676 | -2,834 | +27.8% |
| EBIT / Operating Income | 5,199 | 11,462 | -6,552 | 2,848 | 72,904 | -2,919 | -9,421 | -15,998 | nmf |
| Total Interest Income | 816 | 517 | 837 | 844 | 4 | 1,002 | 599 | 207 | -17.8% |
| Total Interest Expense | -186 | -9,383 | -15,894 | -28,697 | -31,279 | -28,835 | -23,481 | -26,392 | nmf |
| Total Other Income | 22,435 | 25,183 | 19,487 | -127,306 | 18,229 | 30,732 | -4,381 | 15,167 | -5.4% |
| Profit Before Tax | 28,264 | 27,779 | -2,122 | -152,311 | 59,858 | -20 | -36,685 | -27,016 | nmf |
| Total Income Tax | -1,554 | 0 | -376 | 0 | 0 | 0 | 0 | 0 | -50.8% |
| Net Profit / (Loss) | 23,662 | 27,722 | -3,327 | -154,463 | -38,690 | -77,467 | -47,298 | -27,016 | nmf |
| Net Margin | 24.5% | 20.6% | -3.6% | -155.2% | -42.4% | -42.5% | -20.0% | -13.5% | |
| Other Comprehensive Income | 0 | 0 | -488 | -5,696 | -1,774 | 0 | 0 | 0 | +90.7% |
| Total Comprehensive Income | 23,662 | 27,722 | -3,815 | -160,159 | -40,464 | -77,467 | -47,298 | -27,016 | nmf |
Ownership & directors from companyinfo.ge (public corporate registry).