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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
Owner/operator of the Mtkvari (Gardabani) thermal power plant, a major gas-fired electricity generator in Georgia.
Subsidiary of Holding Georgian Industrial Group (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 5.3% | 6.1% | 4.6% | 18.3% | 12.2% | 4.8% | 6.4% | 9.9% |
| EBITDA Margin | 3.5% | 3.0% | 2.5% | 14.5% | 8.4% | 2.7% | 1.4% | 2.5% |
| EBITDAR | 3,493 | 2,504 | 3,077 | 9,504 | 4,609 | 2,950 | 1,169 | 1,219 |
| EBITDAR Margin | 3.5% | 3.0% | 2.5% | 14.5% | 8.4% | 2.7% | 1.4% | 2.5% |
| EBIT Margin | 2.7% | 2.1% | -40.9% | 14.0% | 7.8% | 2.4% | 1.0% | 1.9% |
| Net Profit Margin | -0.1% | -2.4% | -43.5% | 9.2% | -13.9% | 4.1% | -0.4% | -2.0% |
| Operating Expense % of Sales | 1.8% | 3.1% | 2.1% | 3.7% | 4.6% | 2.5% | 5.5% | 8.2% |
| Returns | ||||||||
| Return on Assets (ROA) | -0.1% | -1.7% | -61.2% | 7.1% | -7.8% | 5.0% | -0.4% | -1.4% |
| Return on Equity (ROE) | -0.1% | -2.1% | -117.6% | 11.9% | -17.6% | 9.5% | -0.6% | -2.1% |
| ROIC [EBIT / Invested Capital] | 2.2% | 1.5% | -79.3% | 13.4% | 6.1% | 3.9% | 1.2% | 1.4% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 17.6% | 16.3% | 22.9% | 22.5% | 32.3% | 24.1% | 28.6% | 26.4% |
| Debt-to-Equity | 0.25x | 0.21x | 0.44x | 0.38x | 0.73x | 0.46x | 0.44x | 0.39x |
| Debt-to-EBITDA | 7.18x | 7.98x | 6.40x | 2.01x | 6.81x | 7.40x | 17.99x | 14.84x |
| Equity-to-Assets | 69.6% | 79.6% | 52.1% | 59.8% | 44.3% | 52.6% | 64.5% | 67.7% |
| Net Debt | 24,499 | 19,845 | 17,627 | 17,807 | 27,630 | 19,605 | 19,210 | 17,728 |
| Cash & Equivalents | 581 | 126 | 2,063 | 1,280 | 3,769 | 2,237 | 1,815 | 358 |
| Total Debt | 25,080 | 19,971 | 19,690 | 19,087 | 31,399 | 21,842 | 21,025 | 18,086 |
| Liquidity & working capital | ||||||||
| Current Ratio | 1.02x | 0.55x | 1.28x | 1.72x | 1.75x | 1.93x | 2.98x | 3.14x |
| Quick Ratio | 0.73x | 0.27x | 1.04x | 1.40x | 1.55x | 1.68x | 2.33x | 2.28x |
| Cash Ratio | 0.02x | 0.01x | 0.08x | 0.06x | 0.13x | 0.09x | 0.18x | 0.04x |
| Total Current Assets | 28,504 | 13,788 | 34,695 | 36,497 | 51,296 | 46,833 | 30,780 | 27,215 |
| Total Current Liabilities | 27,980 | 24,957 | 27,077 | 21,260 | 29,265 | 24,223 | 10,343 | 8,677 |
| Inventory | 7,956 | 7,174 | 6,608 | 6,732 | 5,877 | 6,085 | 6,641 | 7,428 |
| Trade Receivables | 19,967 | 6,211 | 23,324 | 18,904 | 26,434 | 22,240 | 7,000 | 5,293 |
| Trade Payables | 18,345 | 4,986 | 21,452 | 15,048 | 22,802 | 21,133 | 5,078 | 4,008 |
| Net Working Capital | 524 | -11,169 | 7,618 | 15,237 | 22,031 | 22,610 | 20,437 | 18,538 |
| Net Working Capital % of Revenue | 0.5% | -13.3% | 6.3% | 23.3% | 40.3% | 20.6% | 23.7% | 38.2% |
| Trade Working Capital | 9,578 | 8,399 | 8,480 | 10,588 | 9,509 | 7,192 | 8,563 | 8,713 |
| Trade Working Capital % of Revenue | 9.5% | 10.0% | 7.0% | 16.2% | 17.4% | 6.5% | 9.9% | 17.9% |
| Change in Trade Working Capital | N/A | -1,179 | 81 | 2,108 | -1,079 | -2,317 | 1,371 | 150 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 12.04x | 11.01x | 17.44x | 7.93x | 8.17x | 17.18x | 12.15x | 5.90x |
| Days Inventory Outstanding (DIO) | 30.3 | 33.1 | 20.9 | 46.0 | 44.7 | 21.2 | 30.1 | 61.9 |
| Receivables Turnover | 5.07x | 13.54x | 5.18x | 3.46x | 2.07x | 4.94x | 12.30x | 9.18x |
| Days Sales Outstanding (DSO) | 72.1 | 27.0 | 70.5 | 105.6 | 176.5 | 73.9 | 29.7 | 39.8 |
| Payables Turnover | 5.22x | 15.84x | 5.37x | 3.55x | 2.11x | 4.95x | 15.88x | 10.93x |
| Days Payable Outstanding (DPO) | 69.9 | 23.0 | 68.0 | 102.9 | 173.3 | 73.8 | 23.0 | 33.4 |
| Cash Conversion Cycle | 32.5 days | 37.1 days | 23.4 days | 48.8 days | 47.8 days | 21.4 days | 36.7 days | 68.3 days |
| Asset Turnover | 0.71x | 0.69x | 1.41x | 0.77x | 0.56x | 1.21x | 1.17x | 0.71x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 5,117 | 5,166 | 5,472 | 8,703 | 5,486 | 4,762 | 1,541 | 1,586 |
| Free Cash Flow (OCF − Capex proxy) | 5,117 | 4,961 | 3,398 | 2,022 | -10,840 | 4,699 | 292 | 2,183 |
| Cash Conversion (OCF / EBITDA) | 146.5% | 206.3% | 177.8% | 91.6% | 119.0% | 161.4% | 131.8% | 130.1% |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | N/A | N/A | N/A | 0.0% | N/A | 0.0% | 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.
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Ownership & directors from companyinfo.ge (public corporate registry).
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