Ratings and Performance Highlights

Operating Indicators 2018 2019 2020 2021 6M 2021 6M 2022
Freight turnover, mln. tones-kilometers 2,571 2.909 2 895 3 291 1 658 1 982
Passenger turnover, mln. passenger-kilometers 634 677 247 273 78 189

Financial Highlights 2018 2019 2020 2021 6M 2021 6M 2022
Revenue mln. Gel 424,614 491,038 489 370 547 868 277 627 311 103
Adjusted EBITDA 172,322 223,179 218 962 226 576 128 700 132 179
Adjusted EBITDA margin 40,58% 45,45% 44,74% 41,36% 46,36% 42,49%

Credit Ratings

First issued LT Outlook ST Last issued LT Outlook ST
Standard & Poor's 2010 B+ Stable B 2020 B+ Positive B
Fitch Ratings 2010 B+ Stable B 2021 BB- Stable B

Standard and Poor`s Fitch
Date LT Outlook ST Date LT Outlook ST
Mar B+ Posituve B
Dec-21 B+ Stable B Dec-21 BB- Stable B
May-21 B+ Negative B Aug-21 BB- Stable B
Jun-20 B+ Negative B May-20 BB- Negative B
Apr-19 B+ Positive B Mar-19 BB- Stable B
Sep-18 B+ Stable B Nov-18 B+ Positive B
Sep-17 B+ Negative B Jan-17 B+ Stable B
Sep-16 B+ Stable B Sep-16 BB- Negative B
Mar-12 BB- Stable B Dec-14 BB- Stable B
Jun-10 B+ Stable B Nov-13 BB- Negative B
Dec-11 BB- Stable B
Mar-11 B+ Positive B
May-10 B+ Stable B