Ratings and Performance Highlights

Operating Indicators 2020 2021 2022 2023 3M 2023 3M 2024
Freight turnover, mln. tones-kilometers 2 895 3 291 4 164 3 804 881 924
Passenger turnover, mln. passenger-kilometers 247 273 483 687 137 128

Financial Highlights 2020 2021 2022 2023 3M 2023 3M 2024
Revenue '000 Gel 489 370 547 868 674 773 627 173 137 937 152 259
Adjusted EBITDA 218 962 226 576 284 162 168 440 36 845 47 405
Adjusted EBITDA margin 44,74% 41,36% 42,11% 26,86% 26,71% 31,13%

Credit Ratings

First issued LT Outlook ST Last issued LT Outlook ST
Standard & Poor's 2010 B+ Stable B 2022 BB- Stable B
Fitch Ratings 2010 B+ Stable B 2023 BB- Positive B

Standard and Poor`s Fitch
Date LT Outlook ST Date LT Outlook ST
Jul-24 BB- Positive B
Dec-23 BB_ Positive B
Dec-22 BB- Stable B Feb-23 BB- Positive B
Mar-22 B+ Positive B Dec-22 BB- Stable B
May-21 B+ Negative B Dec-21 BB- Stable B
Dec-21 B+ Stable 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-17 B+ Stable B Nov-18 B+ Positive B
Sep-16 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