Ratings and Performance Highlights

Operating Indicators 2014 2015 2016 2017 2018 9M 2018 9M 2019
Freight turnover, mln. tones-kilometers 4,948 4,222 3,390 2,930 2,571 1.942 2.082
Passenger turnover, mln. passenger-kilometers 550 467 509 597 634 512 535

Financial Highlights 2014 2015 2016 2017 2018 9M 2018 9M 2019
Revenue mln. Gel 511,570 574,773 439,922 434,534 424,614 314.219 364.164
EBITDA 250,030 322,787 281,755 211,851 172,322 136.248 176.559
Adjusted EBITDA 251,925 307,828 195,149 181,425 156,846 122.610 167.797

Credit Ratings

First issued LT Outlook ST Last issued LT Outlook ST
Standard & Poor's 2010 B+ Stable B 2019 B+ Positive B
Fitch Ratings 2010 B+ Stable B 2019 BB- Stable B

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