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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 0 · FY2023 0 · FY2024 0
Subsidiary of Nikora (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 4.7% | 5.1% | 7.3% | 4.7% | 4.7% | 4.2% | 3.6% | 6.1% |
| EBITDA Margin | 2.6% | 2.3% | 4.5% | -0.5% | 0.6% | 0.5% | 0.6% | 2.8% |
| EBITDAR | 1,112 | 939 | 2,042 | 364 | 562 | 448 | 524 | 999 |
| EBITDAR Margin | 4.0% | 3.8% | 5.9% | 1.5% | 2.6% | 2.2% | 2.2% | 4.8% |
| EBIT Margin | 2.6% | 2.2% | 4.5% | -0.6% | 0.5% | 0.4% | 0.5% | 2.7% |
| Net Profit Margin | -2.4% | -1.8% | 0.3% | -11.0% | -3.9% | -2.9% | -4.8% | -1.9% |
| Operating Expense % of Sales | 2.1% | 2.8% | 3.0% | 5.3% | 4.2% | 3.8% | 3.0% | 3.3% |
| Returns | ||||||||
| Return on Assets (ROA) | -6.2% | -4.7% | 0.7% | -35.7% | -12.3% | -7.8% | -13.6% | -6.4% |
| Return on Equity (ROE) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| ROIC [EBIT / Invested Capital] | 21.1% | 18.6% | 40.7% | -7.8% | 8.8% | 16.5% | N/A | N/A |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 54.9% | 59.1% | 50.3% | 96.8% | 110.5% | 98.9% | 92.0% | 19.5% |
| Debt-to-Equity | -2.48x | -2.05x | -2.39x | -1.36x | -1.19x | -1.07x | -0.97x | -0.50x |
| Debt-to-EBITDA | 7.96x | 10.28x | 4.17x | N/A | 60.19x | 77.51x | 52.41x | 2.13x |
| Equity-to-Assets | -22.2% | -28.8% | -21.0% | -71.2% | -92.5% | -92.4% | -95.1% | -38.9% |
| Net Debt | 5,792 | 5,764 | 6,498 | 7,414 | 7,513 | 7,349 | 7,761 | 1,213 |
| Cash & Equivalents | 37 | 2 | 2 | 4 | 6 | 12 | 4 | 4 |
| Total Debt | 5,828 | 5,765 | 6,501 | 7,418 | 7,519 | 7,361 | 7,765 | 1,217 |
| Liquidity & working capital | ||||||||
| Current Ratio | 0.91x | 0.77x | 0.91x | 0.65x | 0.52x | 0.57x | 0.56x | 0.72x |
| Quick Ratio | 0.29x | 0.21x | 0.17x | 0.16x | 0.11x | 0.12x | 0.09x | 0.19x |
| Cash Ratio | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Total Current Assets | 10,562 | 9,725 | 12,843 | 7,596 | 6,762 | 7,412 | 8,368 | 6,178 |
| Total Current Liabilities | 11,631 | 12,572 | 14,176 | 11,658 | 13,089 | 12,891 | 14,985 | 8,614 |
| Inventory | 7,211 | 7,025 | 10,496 | 5,734 | 5,367 | 5,883 | 6,956 | 4,558 |
| Trade Receivables | 2,798 | 2,277 | 2,031 | 1,751 | 1,371 | 1,380 | 1,113 | 1,514 |
| Trade Payables | 6,674 | 5,821 | 9,061 | 5,699 | 5,584 | 6,960 | 8,700 | 7,437 |
| Net Working Capital | -1,070 | -2,846 | -1,333 | -4,062 | -6,327 | -5,479 | -6,617 | -2,436 |
| Net Working Capital % of Revenue | -3.8% | -11.6% | -3.9% | -16.4% | -29.7% | -27.3% | -27.7% | -11.8% |
| Trade Working Capital | 3,335 | 3,482 | 3,465 | 1,786 | 1,154 | 304 | -632 | -1,365 |
| Trade Working Capital % of Revenue | 12.0% | 14.1% | 10.0% | 7.2% | 5.4% | 1.5% | -2.6% | -6.6% |
| Change in Trade Working Capital | N/A | 146 | -16 | -1,680 | -632 | -850 | -935 | -733 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 3.68x | 3.33x | 3.05x | 4.12x | 3.78x | 3.26x | 3.31x | 4.26x |
| Days Inventory Outstanding (DIO) | 99.2 | 109.6 | 119.7 | 88.6 | 96.5 | 111.9 | 110.3 | 85.6 |
| Receivables Turnover | 9.95x | 10.82x | 17.00x | 14.16x | 15.54x | 14.52x | 21.46x | 13.66x |
| Days Sales Outstanding (DSO) | 36.7 | 33.7 | 21.5 | 25.8 | 23.5 | 25.1 | 17.0 | 26.7 |
| Payables Turnover | 3.98x | 4.02x | 3.53x | 4.14x | 3.63x | 2.76x | 2.64x | 2.61x |
| Days Payable Outstanding (DPO) | 91.8 | 90.8 | 103.3 | 88.1 | 100.4 | 132.4 | 138.0 | 139.7 |
| Cash Conversion Cycle | 44.1 days | 52.5 days | 37.8 days | 26.3 days | 19.6 days | 4.7 days | -10.7 days | -27.4 days |
| Asset Turnover | 2.62x | 2.52x | 2.67x | 3.24x | 3.13x | 2.69x | 2.83x | 3.32x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | -167 | 65 | -370 | -538 | -23 | 166 | -323 | 492 |
| Free Cash Flow (OCF − Capex proxy) | -167 | 63 | -375 | -538 | -23 | 166 | -323 | 492 |
| Cash Conversion (OCF / EBITDA) | -22.8% | 11.5% | -23.7% | N/A | -18.1% | 174.3% | -218.2% | 85.9% |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | N/A | N/A | 0.0% | 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 GEL, thousands. Margins, returns and payout are percentages; turnover and leverage are multiples; DIO/DSO/DPO are days. Hover a metric name for its definition.
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.
Ownership & directors from companyinfo.ge (public corporate registry).
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