Ratings and Performance Highlights

Operating Indicators 2020 2021 2022 2023 9M 2023 9M 2024
Freight turnover, mln. tones-kilometers 2 895 3 291 4 164 3 804 2 888 2 988
Passenger turnover, mln. passenger-kilometers 247 273 483 687 537 489

Financial Highlights 2020 2021 2022 2023 9M 2023 9M 2024
Revenue '000 Gel 489 370 547 868 674 773 627 173 481 204 490 480
Adjusted EBITDA 218 962 226 576 284 162 168 440 162 314 170 468
Adjusted EBITDA margin 44,74% 41,36% 42,11% 26,86% 33,73% 34,76%

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
Dec-22 BB- Stable B Jul-24 BB- Positive B
Mar-22 B+ Positive B Dec-23 BB- Positive B
May-21 B+ Negative B Feb-23 BB- Positive B
Dec-21 B+ Stable B Dec-22 BB- Stable B
Jun-20 B+ Negative B Dec-21 BB- Stable B
Apr-19 B+ Positive B Aug-21 BB- Stable B
Sep-17 B+ Stable B May-20 BB- Negative B
Sep-16 B+ Negative B Mar-19 BB- Stable B
Sep-16 B+ Stable B Nov-18 B+ Positive B
Mar-12 BB- Stable B Jan-17 B+ Stable B
Jun-10 B+ Stable B Sep-16 BB- Negative B
Dec-14 BB- Stable B
Nov-13 BB- Negative B
Dec-11 BB- Stable B
Mar-11 B+ Positive B
May-10 B+ Stable B