Fixed Income Analysis /
Georgia

Georgian Railway 1H21 update – Liquid cargo back on track

  • Georgian Railway generated US$ 83.6mn (+3.4% y/y) in revenue and US$ 38.2mn (+3.3% y/y) adjusted EBITDA in 1H21

  • In 1H21 GR managed to bring back liquid cargo transportation volumes, hitting highest level in 6 years

  • GR maintained strong profitability margins, with adjusted EBITDA margin standing at 45.7% in 1H21

Ana Nachkebia
Ana Nachkebia

Senior Analyst - Fixed income, Transportation, Telecommunications, Construction

Eva Bochorishvili
Galt & Taggart
11 October 2021
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