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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 3,158 · FY2023 5,764 · FY2024 6,200 — 3-yr total 15,121
Georgian distributor of Caparol paints and coatings, the German DAW brand.
Subsidiary of Shezghuduli Pasukhismgeblobis Sazogadoeba LACUFA GmbH 100 Lacke und Farben (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 44.5% | 44.1% | 45.1% | 46.0% | 44.8% | 48.0% | 51.6% | 51.0% |
| EBITDA Margin | 12.1% | 16.9% | 18.1% | 19.7% | 18.0% | 23.1% | 26.8% | 26.6% |
| EBITDAR | 2,693 | 4,403 | 5,284 | 5,537 | 6,338 | 9,137 | 11,673 | 13,408 |
| EBITDAR Margin | 14.4% | 18.9% | 19.9% | 21.9% | 19.9% | 23.1% | 26.8% | 28.1% |
| EBIT Margin | 9.5% | 14.6% | 16.0% | 17.2% | 16.0% | 21.3% | 25.2% | 25.2% |
| Net Profit Margin | 6.8% | 13.4% | 11.7% | 14.7% | 29.6% | 18.5% | 22.5% | 11.8% |
| Operating Expense % of Sales | 32.3% | 27.2% | 27.1% | 26.4% | 26.9% | 24.9% | 24.8% | 24.4% |
| Returns | ||||||||
| Return on Assets (ROA) | 10.1% | 22.0% | 20.7% | 19.9% | 40.4% | 25.9% | 32.3% | 16.5% |
| Return on Equity (ROE) | 20.5% | 33.2% | 24.9% | 22.8% | 45.8% | 29.5% | 34.1% | 20.0% |
| ROIC [EBIT / Invested Capital] | 20.2% | 34.5% | 41.2% | 41.4% | 44.7% | 71.8% | 73.8% | 129.9% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 31.6% | 18.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Debt-to-Equity | 0.64x | 0.28x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Debt-to-EBITDA | 1.77x | 0.66x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Equity-to-Assets | 49.1% | 66.3% | 83.1% | 87.3% | 88.2% | 87.7% | 94.9% | 82.5% |
| Net Debt | 2,595 | 458 | -2,226 | -5,778 | -9,233 | -13,031 | -13,983 | -19,079 |
| Cash & Equivalents | 1,441 | 2,151 | 2,226 | 5,778 | 9,233 | 13,031 | 13,983 | 19,079 |
| Total Debt | 4,036 | 2,610 | N/A | N/A | N/A | N/A | N/A | N/A |
| Liquidity & working capital | ||||||||
| Current Ratio | 3.54x | 4.61x | 4.29x | 6.20x | 7.35x | 6.97x | 16.46x | 4.88x |
| Quick Ratio | 2.00x | 2.49x | 2.29x | 3.51x | 4.83x | 5.00x | 11.99x | 3.66x |
| Cash Ratio | 0.58x | 0.99x | 0.87x | 2.45x | 3.34x | 3.76x | 9.04x | 3.17x |
| Total Current Assets | 8,732 | 10,000 | 10,921 | 14,620 | 20,335 | 24,161 | 25,457 | 29,432 |
| Total Current Liabilities | 2,464 | 2,170 | 2,548 | 2,358 | 2,766 | 3,469 | 1,547 | 6,027 |
| Inventory | 3,803 | 4,600 | 5,082 | 6,352 | 6,974 | 6,834 | 6,910 | 7,402 |
| Trade Receivables | 3,489 | 3,249 | 3,614 | 2,491 | 4,128 | 4,296 | 4,563 | 2,623 |
| Trade Payables | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Working Capital | 6,268 | 7,830 | 8,374 | 12,263 | 17,569 | 20,692 | 23,910 | 23,405 |
| Net Working Capital % of Revenue | 33.4% | 33.7% | 31.5% | 48.6% | 55.0% | 52.3% | 54.8% | 49.1% |
| Trade Working Capital | 7,292 | 7,849 | 8,695 | 8,843 | 11,102 | 11,130 | 11,473 | 10,025 |
| Trade Working Capital % of Revenue | 38.9% | 33.8% | 32.7% | 35.1% | 34.8% | 28.1% | 26.3% | 21.0% |
| Change in Trade Working Capital | N/A | 557 | 847 | 147 | 2,259 | 28 | 343 | -1,448 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 2.74x | 2.83x | 2.87x | 2.14x | 2.53x | 3.01x | 3.05x | 3.16x |
| Days Inventory Outstanding (DIO) | 133.2 | 129.1 | 127.3 | 170.3 | 144.5 | 121.2 | 119.5 | 115.6 |
| Receivables Turnover | 5.38x | 7.16x | 7.35x | 10.13x | 7.73x | 9.22x | 9.56x | 18.18x |
| Days Sales Outstanding (DSO) | 67.9 | 51.0 | 49.6 | 36.0 | 47.2 | 39.6 | 38.2 | 20.1 |
| Payables Turnover | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Days Payable Outstanding (DPO) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash Conversion Cycle | 201.1 days | 180.1 days | 176.9 days | 206.3 days | 191.6 days | 160.8 days | 157.7 days | 135.7 days |
| Asset Turnover | 1.47x | 1.64x | 1.76x | 1.36x | 1.36x | 1.40x | 1.43x | 1.39x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 2,342 | 3,558 | 3,423 | 3,538 | 9,499 | 8,555 | 7,903 | 11,638 |
| Free Cash Flow (OCF − Capex proxy) | 2,342 | 2,929 | 2,880 | 3,069 | 8,964 | 8,080 | 6,778 | 11,616 |
| Cash Conversion (OCF / EBITDA) | 102.9% | 90.6% | 71.3% | 71.3% | 165.7% | 93.6% | 67.7% | 91.6% |
| Dividends Declared | 0 | 0 | 0 | 0 | 4,823 | 3,158 | 5,764 | 6,200 |
| Dividend Payout Ratio | 0.0% | 0.0% | 0.0% | 0.0% | 51.1% | 43.1% | 58.6% | 109.7% |
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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