Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	18.1%	34.4%	50.0%	12.9%	20.1%	33.6%	32.0%
EBITDA Margin	9.8%	26.8%	43.4%	-12.1%	0.6%	3.6%	11.1%
EBITDAR	229	775	2,068	-397	217	298	905
EBITDAR Margin	9.8%	30.3%	43.4%	-10.2%	3.2%	6.5%	13.3%
EBIT Margin	9.8%	26.4%	43.2%	-13.8%	-0.8%	-1.6%	10.4%
Net Profit Margin	4.7%	25.8%	43.4%	-12.5%	6.6%	3.3%	11.0%
Operating Expense % of Sales	8.3%	7.6%	6.6%	25.1%	19.6%	30.0%	20.9%
Returns
Return on Assets (ROA)	9.5%	284.7%	51.9%	-16.4%	15.7%	4.5%	23.4%
Return on Equity (ROE)	N/A	N/A	137.3%	-36.7%	27.9%	7.2%	26.3%
ROIC [EBIT / Invested Capital]	N/A	1436.7%	180.0%	-27.5%	-2.6%	-2.4%	22.3%
Leverage & liquidity
Debt-to-Assets	0.0%	122.1%	11.8%	25.8%	39.5%	37.1%	11.1%
Debt-to-Equity	-0.00x	-1.20x	0.31x	0.58x	0.70x	0.59x	0.12x
Debt-to-EBITDA	0.00x	0.41x	0.23x	N/A	28.49x	7.44x	0.47x
Equity-to-Assets	-5.7%	-101.9%	37.8%	44.6%	56.4%	62.9%	88.9%
Net Debt	-35	284	-364	629	584	914	330
Cash & Equivalents	35	N/A	833	138	543	323	25
Total Debt	N/A	284	469	766	1,127	1,237	354
Efficiency & working capital
Inventory Turnover	N/A	16.62x	4.13x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	22.0	88.5	N/A	N/A	N/A	N/A
Receivables Turnover	3.79x	39.43x	2.88x	12.81x	21.62x	10.81x	13.14x
Days Sales Outstanding (DSO)	96.4	9.3	126.9	28.5	16.9	33.8	27.8
Payables Turnover	1.64x	9.08x	1.31x	4.14x	78.79x	N/A	N/A
Days Payable Outstanding (DPO)	222.7	40.2	278.6	88.2	4.6	N/A	N/A
Cash Conversion Cycle	-126.3 days	-9.0 days	-63.2 days	-59.7 days	12.3 days	33.8 days	27.8 days
Asset Turnover	2.02x	11.03x	1.20x	1.31x	2.40x	1.37x	2.13x
Cash flow & dividends
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	216	-139
Free Cash Flow (OCF − Capex proxy)	N/A	N/A	N/A	N/A	N/A	-403	594
Cash Conversion (OCF / EBITDA)	N/A	N/A	N/A	N/A	N/A	129.9%	-18.3%
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