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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 3,218 · FY2023 15,166 · FY2024 11,199 — 3-yr total 29,583
Georgian Distribution and Marketing Company LLC (GDMC) is one of Georgia's largest FMCG distributors (founded 2005), focused on import / wholesale of alcoholic beverages, food fats and food products. Operates five branches with warehouses in Tbilisi, Kutaisi, Batumi, Gurjaani and Akhaltsikhe.
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 24.6% | 25.5% | 26.0% | 25.8% | 20.6% | 25.2% | 29.1% | 26.5% |
| EBITDA Margin | 16.0% | 9.6% | 12.5% | 14.4% | 9.4% | 12.9% | 13.3% | 9.5% |
| EBITDAR | 17,556 | 11,635 | 14,110 | 17,151 | 14,055 | 24,284 | 22,308 | 16,519 |
| EBITDAR Margin | 17.6% | 11.1% | 12.8% | 14.4% | 9.4% | 13.0% | 13.6% | 9.7% |
| EBIT Margin | 15.3% | 8.8% | 10.6% | 12.4% | 7.9% | 11.9% | 12.0% | 8.4% |
| Net Profit Margin | 5.9% | 7.9% | 10.5% | 12.2% | 5.5% | 11.1% | 10.9% | 7.5% |
| Operating Expense % of Sales | 8.6% | 15.9% | 13.5% | 11.5% | 11.2% | 12.3% | 15.8% | 17.0% |
| Returns | ||||||||
| Return on Assets (ROA) | 14.4% | 15.2% | 19.0% | 23.7% | 10.6% | 27.5% | 22.7% | 15.3% |
| Return on Equity (ROE) | 43.2% | 39.7% | 36.8% | 52.1% | 31.6% | 47.8% | 38.7% | 26.6% |
| ROIC [EBIT / Invested Capital] | 43.6% | 21.2% | 24.6% | 32.8% | 24.9% | 46.5% | 35.4% | 20.5% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 53.3% | 49.5% | 35.8% | 40.6% | 40.3% | 27.2% | 23.7% | 26.7% |
| Debt-to-Equity | 1.60x | 1.29x | 0.69x | 0.89x | 1.19x | 0.47x | 0.40x | 0.46x |
| Debt-to-EBITDA | 1.37x | 2.69x | 1.58x | 1.45x | 2.22x | 0.85x | 0.86x | 1.38x |
| Equity-to-Assets | 33.3% | 38.4% | 51.7% | 45.5% | 33.7% | 57.4% | 58.6% | 57.6% |
| Net Debt | 21,298 | 22,591 | 16,183 | 16,994 | 21,479 | 4,123 | 9,484 | 21,865 |
| Cash & Equivalents | 558 | 4,297 | 5,638 | 7,866 | 9,546 | 16,514 | 9,281 | 402 |
| Total Debt | 21,856 | 26,888 | 21,821 | 24,860 | 31,025 | 20,637 | 18,765 | 22,267 |
| Liquidity & working capital | ||||||||
| Current Ratio | 1.28x | 1.54x | 2.25x | 1.74x | 1.52x | 2.11x | 2.17x | 2.31x |
| Quick Ratio | 0.87x | 1.23x | 1.84x | 1.42x | 1.25x | 1.63x | 1.78x | 1.82x |
| Cash Ratio | 0.02x | 0.13x | 0.24x | 0.26x | 0.21x | 0.52x | 0.29x | 0.01x |
| Total Current Assets | 33,599 | 51,599 | 52,225 | 52,265 | 69,486 | 67,006 | 70,175 | 80,989 |
| Total Current Liabilities | 26,279 | 33,456 | 23,185 | 30,037 | 45,734 | 31,724 | 32,377 | 35,005 |
| Inventory | 10,714 | 10,359 | 9,516 | 9,579 | 12,181 | 15,254 | 12,611 | 17,134 |
| Trade Receivables | 20,643 | 20,459 | 24,795 | 28,068 | 44,036 | 29,681 | 37,753 | 46,488 |
| Trade Payables | 3,833 | 5,665 | 7,644 | 8,087 | 18,928 | 10,401 | 11,848 | 11,772 |
| Net Working Capital | 7,320 | 18,143 | 29,040 | 22,228 | 23,752 | 35,282 | 37,798 | 45,984 |
| Net Working Capital % of Revenue | 7.4% | 17.4% | 26.3% | 18.7% | 15.9% | 18.8% | 23.0% | 27.1% |
| Trade Working Capital | 27,524 | 25,153 | 26,667 | 29,560 | 37,289 | 34,534 | 38,516 | 51,850 |
| Trade Working Capital % of Revenue | 27.7% | 24.1% | 24.2% | 24.8% | 25.0% | 18.4% | 23.5% | 30.6% |
| Change in Trade Working Capital | N/A | -2,371 | 1,514 | 2,893 | 7,729 | -2,755 | 3,982 | 13,334 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 7.00x | 7.50x | 8.58x | 9.22x | 9.74x | 9.19x | 9.22x | 7.28x |
| Days Inventory Outstanding (DIO) | 52.1 | 48.6 | 42.6 | 39.6 | 37.5 | 39.7 | 39.6 | 50.1 |
| Receivables Turnover | 4.82x | 5.10x | 4.45x | 4.24x | 3.39x | 6.31x | 4.35x | 3.65x |
| Days Sales Outstanding (DSO) | 75.7 | 71.6 | 82.1 | 86.0 | 107.7 | 57.8 | 84.0 | 100.0 |
| Payables Turnover | 19.58x | 13.72x | 10.68x | 10.92x | 6.27x | 13.48x | 9.82x | 10.60x |
| Days Payable Outstanding (DPO) | 18.6 | 26.6 | 34.2 | 33.4 | 58.3 | 27.1 | 37.2 | 34.4 |
| Cash Conversion Cycle | 109.2 days | 93.6 days | 90.4 days | 92.2 days | 86.9 days | 70.5 days | 86.3 days | 115.7 days |
| Asset Turnover | 2.43x | 1.92x | 1.81x | 1.94x | 1.94x | 2.47x | 2.08x | 2.04x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 6,214 | 10,135 | 7,693 | 14,396 | 1,692 | 27,245 | 16,450 | 1,042 |
| Free Cash Flow (OCF − Capex proxy) | 6,214 | -1,149 | 13,272 | 6,175 | 4,329 | 21,720 | 9,625 | -763 |
| Cash Conversion (OCF / EBITDA) | 39.0% | 101.3% | 55.7% | 84.1% | 12.1% | 112.9% | 75.3% | 6.5% |
| Dividends Declared | 6,913 | 395 | 895 | 7,192 | 10,114 | 3,218 | 15,166 | 11,199 |
| Dividend Payout Ratio | 117.1% | 4.8% | 7.7% | 49.5% | 123.3% | 15.4% | 84.5% | 87.6% |
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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