Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	42.2%	40.5%	44.6%	43.0%	51.9%	55.9%	54.5%
EBITDA Margin	30.7%	29.9%	34.2%	26.1%	37.2%	42.7%	41.1%
EBITDAR	1,507	1,826	1,957	2,140	3,598	4,254	4,341
EBITDAR Margin	33.8%	32.5%	35.8%	29.2%	38.6%	44.1%	42.4%
EBIT Margin	29.1%	28.4%	32.7%	25.1%	36.3%	41.8%	40.4%
Net Profit Margin	27.6%	29.0%	31.9%	21.3%	32.0%	35.4%	34.2%
Operating Expense % of Sales	11.5%	10.5%	10.4%	16.9%	14.8%	13.3%	13.4%
Returns
Return on Assets (ROA)	40.0%	50.6%	44.0%	42.4%	64.4%	78.6%	79.6%
Return on Equity (ROE)	62.8%	57.3%	46.7%	44.7%	67.0%	81.5%	83.0%
ROIC [EBIT / Invested Capital]	46.5%	62.6%	64.8%	62.8%	110.3%	132.4%	124.6%
Leverage & liquidity
Debt-to-Assets	30.4%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Debt-to-Equity	0.48x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
Debt-to-EBITDA	0.68x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
Equity-to-Assets	63.7%	88.2%	94.2%	94.8%	96.1%	96.4%	95.9%
Net Debt	823	-294	-971	-564	-1,374	-1,143	-901
Cash & Equivalents	112	294	971	564	1,374	1,143	901
Total Debt	936	N/A	N/A	N/A	N/A	N/A	N/A
Efficiency & working capital
Inventory Turnover	N/A	2.04x	1.85x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	178.6	197.7	N/A	N/A	N/A	N/A
Receivables Turnover	34.64x	176.17x	111.21x	80.34x	311.84x	700.99x	112.35x
Days Sales Outstanding (DSO)	10.5	2.1	3.3	4.5	1.2	0.5	3.2
Payables Turnover	14.26x	8.83x	13.28x	22.04x	24.89x	27.18x	25.72x
Days Payable Outstanding (DPO)	25.6	41.4	27.5	16.6	14.7	13.4	14.2
Cash Conversion Cycle	-15.1 days	139.3 days	173.5 days	-12.0 days	-13.5 days	-12.9 days	-10.9 days
Asset Turnover	1.45x	1.74x	1.38x	1.99x	2.02x	2.22x	2.33x
Cash flow & dividends
Operating Cash Flow	849	1,702	1,623	1,419	2,850	3,417	3,339
Free Cash Flow (OCF − Capex proxy)	693	1,653	1,623	1,419	2,805	3,385	3,331
Cash Conversion (OCF / EBITDA)	62.0%	101.4%	86.7%	73.9%	82.2%	83.0%	79.5%
Dividends Declared	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividend Payout Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Money rows — EBITDAR, net debt, cash, total debt, operating and free cash flow, dividends declared — are in ₾ '000. Margins, returns and payout are percentages; turnover and leverage are multiples; DIO/DSO/DPO are days. Hover a metric name for its definition.

Ownership & group structure

Shareholders, directors and group links from the companyinfo.ge public register — as filed, so stakes need not sum to 100% where a holding is undisclosed.

companyinfo.ge · fetched 2026-07-15