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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 2,366 · FY2023 1,503 · FY2024 1,171 — 3-yr total 5,040
Operates in FMCG — Distribution. Per the activity note to the FY2024 annual report, the group distributes and sells tobacco products, lighters and household goods across Georgia.
Group parent — controls 4 companies · ownership
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 5.6% | 7.9% | 6.6% | 5.6% | 10.2% | 14.3% | 15.5% | 12.0% |
| EBITDA Margin | 4.0% | 2.6% | 2.0% | 1.7% | 3.1% | 7.9% | 4.6% | 1.9% |
| EBITDAR | 7,775 | 4,880 | 3,231 | 2,609 | 4,800 | 15,937 | 7,598 | 2,837 |
| EBITDAR Margin | 4.0% | 2.6% | 2.0% | 1.7% | 3.1% | 7.9% | 4.6% | 1.9% |
| EBIT Margin | 3.8% | 2.4% | 1.7% | 1.5% | 2.7% | 7.4% | 3.9% | 1.0% |
| Net Profit Margin | 0.3% | 2.2% | 1.6% | 1.5% | 2.3% | 7.1% | 2.9% | 0.4% |
| Operating Expense % of Sales | 1.6% | 5.3% | 4.6% | 4.1% | 7.2% | 6.6% | 11.1% | 13.1% |
| Returns | ||||||||
| Return on Assets (ROA) | 2.6% | 49.3% | 37.6% | 18.1% | 13.2% | 35.7% | 12.1% | 1.3% |
| Return on Equity (ROE) | N/A | 121.5% | 50.5% | 33.3% | 40.5% | 69.3% | 19.6% | 2.3% |
| ROIC [EBIT / Invested Capital] | 56.6% | 65.3% | 48.0% | 25.7% | 21.5% | 58.9% | 23.2% | 5.7% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 57.5% | 55.5% | 14.8% | 33.5% | 44.6% | 23.6% | 16.7% | 16.0% |
| Debt-to-Equity | -194.76x | 1.37x | 0.20x | 0.62x | 1.36x | 0.46x | 0.27x | 0.28x |
| Debt-to-EBITDA | 1.85x | 0.92x | 0.33x | 1.65x | 2.49x | 0.60x | 0.86x | 2.29x |
| Equity-to-Assets | -0.3% | 40.6% | 74.4% | 54.2% | 32.7% | 51.6% | 61.6% | 57.6% |
| Net Debt | 13,152 | 3,539 | 518 | 2,147 | 10,640 | 4,706 | 3,607 | 3,089 |
| Cash & Equivalents | 1,260 | 951 | 534 | 2,159 | 1,297 | 4,822 | 2,893 | 3,411 |
| Total Debt | 14,412 | 4,490 | 1,052 | 4,306 | 11,937 | 9,528 | 6,500 | 6,500 |
| Liquidity & working capital | ||||||||
| Current Ratio | 1.56x | 0.61x | 1.26x | 1.20x | 1.03x | 1.62x | 2.01x | 1.82x |
| Quick Ratio | 0.13x | 0.38x | 0.59x | 0.56x | 0.31x | 0.67x | 0.68x | 0.82x |
| Cash Ratio | 0.11x | 0.20x | 0.30x | 0.44x | 0.07x | 0.25x | 0.19x | 0.20x |
| Total Current Assets | 17,636 | 2,941 | 2,271 | 5,912 | 18,138 | 31,658 | 30,004 | 31,431 |
| Total Current Liabilities | 11,295 | 4,813 | 1,799 | 4,924 | 17,684 | 19,569 | 14,942 | 17,246 |
| Inventory | 16,141 | 1,109 | 1,211 | 3,137 | 12,683 | 18,617 | 19,900 | 17,211 |
| Trade Receivables | 211 | 159 | 83 | 329 | 1,463 | 7,582 | 4,665 | 10,383 |
| Trade Payables | 10,694 | 27 | 157 | 794 | 4,845 | 3,667 | 8,055 | 7,994 |
| Net Working Capital | 6,341 | -1,872 | 472 | 988 | 454 | 12,089 | 15,062 | 14,185 |
| Net Working Capital % of Revenue | 3.2% | -1.0% | 0.3% | 0.6% | 0.3% | 6.0% | 9.2% | 9.3% |
| Trade Working Capital | 5,658 | 1,241 | 1,137 | 2,672 | 9,301 | 22,532 | 16,510 | 19,600 |
| Trade Working Capital % of Revenue | 2.9% | 0.7% | 0.7% | 1.7% | 6.0% | 11.1% | 10.1% | 12.8% |
| Change in Trade Working Capital | N/A | -4,417 | -104 | 1,535 | 6,629 | 13,231 | -6,022 | 3,090 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 11.43x | 153.08x | 126.76x | 47.03x | 10.96x | 9.33x | 6.95x | 7.82x |
| Days Inventory Outstanding (DIO) | 31.9 | 2.4 | 2.9 | 7.8 | 33.3 | 39.1 | 52.5 | 46.6 |
| Receivables Turnover | 925.78x | 1159.28x | 1980.01x | 475.18x | 105.88x | 26.71x | 35.07x | 14.75x |
| Days Sales Outstanding (DSO) | 0.4 | 0.3 | 0.2 | 0.8 | 3.4 | 13.7 | 10.4 | 24.8 |
| Payables Turnover | 17.25x | 6287.67x | 977.75x | 185.82x | 28.70x | 47.35x | 17.17x | 16.85x |
| Days Payable Outstanding (DPO) | 21.2 | 0.1 | 0.4 | 2.0 | 12.7 | 7.7 | 21.3 | 21.7 |
| Cash Conversion Cycle | 11.2 days | 2.6 days | 2.7 days | 6.6 days | 24.0 days | 45.1 days | 41.7 days | 49.7 days |
| Asset Turnover | 7.80x | 22.77x | 23.17x | 12.16x | 5.78x | 5.01x | 4.20x | 3.77x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | -4,037 | 10,074 | 3,370 | 747 | -4,660 | 9,536 | 3,498 | 3,695 |
| Free Cash Flow (OCF − Capex proxy) | -4,037 | 10,240 | 3,691 | -996 | -7,071 | 7,776 | 2,119 | 1,949 |
| Cash Conversion (OCF / EBITDA) | -51.9% | 206.4% | 104.3% | 28.6% | -97.1% | 59.8% | 46.0% | 130.2% |
| Dividends Declared | 827 | 632 | 668 | 633 | 1,011 | 2,366 | 1,503 | 1,171 |
| Dividend Payout Ratio | 127.0% | 15.8% | 25.1% | 27.2% | 28.5% | 16.4% | 31.9% | 214.1% |
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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