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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
SOCAR Energy Georgia, established in 2006 as SOCAR's first foreign subsidiary, is a wholesale and retail oil & gas operator. It runs Georgia's largest petrol-station network (with the WayMart convenience-store chain) and imports / supplies / distributes natural gas — including 31,200km of pipelines serving 944K+ customers.
Subsidiary of Azerbaijanis Respublikis Sakhelmtsipo Navtobiskompania (91.8%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 16.0% | 15.9% | 15.1% | 16.9% | 17.0% | 20.1% | 23.9% | 25.8% |
| EBITDA Margin | 7.1% | 3.2% | 4.3% | 4.5% | 5.9% | 10.0% | 10.3% | 10.3% |
| EBITDAR | 121,999 | 60,923 | 79,820 | 81,213 | 131,345 | 238,585 | 214,819 | 212,841 |
| EBITDAR Margin | 8.4% | 3.9% | 4.4% | 4.7% | 6.0% | 10.2% | 10.5% | 10.4% |
| EBIT Margin | 4.6% | 1.2% | 1.8% | -0.5% | 5.4% | 7.7% | 7.6% | 7.5% |
| Net Profit Margin | 0.5% | -3.4% | -5.1% | -10.1% | 2.8% | 7.5% | 4.9% | 2.7% |
| Operating Expense % of Sales | 8.9% | 12.7% | 10.8% | 12.4% | 11.1% | 10.1% | 13.7% | 15.5% |
| Returns | ||||||||
| Return on Assets (ROA) | 0.6% | -4.3% | -7.1% | -13.0% | 4.5% | 12.3% | 7.2% | 3.7% |
| Return on Equity (ROE) | 14.5% | N/A | N/A | N/A | N/A | N/A | 157.6% | 46.5% |
| ROIC [EBIT / Invested Capital] | 12.4% | 2.7% | 4.9% | -1.6% | 20.6% | 25.8% | 18.9% | 19.2% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 42.8% | 54.5% | 59.6% | 63.3% | 59.8% | 53.4% | 55.1% | 45.9% |
| Debt-to-Equity | 10.04x | -104.32x | -7.86x | -3.13x | -3.78x | -20.63x | 12.01x | 5.69x |
| Debt-to-EBITDA | 4.85x | 13.52x | 9.93x | 10.90x | 6.33x | 3.26x | 3.68x | 3.27x |
| Equity-to-Assets | 4.3% | -0.5% | -7.6% | -20.2% | -15.8% | -2.6% | 4.6% | 8.1% |
| Net Debt | 494,247 | 659,267 | 753,703 | 774,688 | 786,381 | 738,337 | 757,647 | 671,947 |
| Cash & Equivalents | 10,545 | 5,802 | 12,304 | 83,290 | 22,655 | 27,524 | 15,912 | 13,201 |
| Total Debt | 504,792 | 665,069 | 766,007 | 857,978 | 809,036 | 765,861 | 773,559 | 685,148 |
| Liquidity & working capital | ||||||||
| Current Ratio | 0.44x | 0.39x | 0.38x | 0.41x | 0.35x | 0.41x | 0.30x | 0.32x |
| Quick Ratio | 0.39x | 0.34x | 0.33x | 0.37x | 0.29x | 0.33x | 0.24x | 0.29x |
| Cash Ratio | 0.01x | 0.01x | 0.01x | 0.08x | 0.02x | 0.03x | 0.01x | 0.01x |
| Total Current Assets | 378,511 | 354,016 | 352,198 | 431,939 | 376,735 | 451,092 | 320,514 | 369,841 |
| Total Current Liabilities | 854,818 | 903,404 | 927,133 | 1,054,171 | 1,087,321 | 1,089,253 | 1,081,858 | 1,160,995 |
| Inventory | 44,655 | 45,063 | 46,950 | 45,686 | 64,291 | 89,878 | 56,170 | 36,741 |
| Trade Receivables | 313,595 | 293,157 | 284,478 | 291,781 | 277,996 | 323,902 | 231,490 | 312,957 |
| Trade Payables | 533,262 | 399,781 | 490,039 | 567,291 | 549,588 | 522,787 | 284,166 | 403,396 |
| Net Working Capital | -476,307 | -549,388 | -574,935 | -622,232 | -710,586 | -638,161 | -761,344 | -791,154 |
| Net Working Capital % of Revenue | -32.7% | -35.5% | -32.0% | -35.7% | -32.7% | -27.2% | -37.1% | -38.8% |
| Trade Working Capital | -175,012 | -61,561 | -158,611 | -229,824 | -207,301 | -109,007 | 3,494 | -53,698 |
| Trade Working Capital % of Revenue | -12.0% | -4.0% | -8.8% | -13.2% | -9.5% | -4.6% | 0.2% | -2.6% |
| Change in Trade Working Capital | N/A | 113,451 | -97,050 | -71,213 | 22,523 | 98,294 | 112,501 | -57,192 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 27.38x | 28.86x | 32.44x | 31.67x | 28.09x | 20.90x | 27.79x | 41.18x |
| Days Inventory Outstanding (DIO) | 13.3 | 12.6 | 11.3 | 11.5 | 13.0 | 17.5 | 13.1 | 8.9 |
| Receivables Turnover | 4.64x | 5.27x | 6.31x | 5.97x | 7.83x | 7.25x | 8.86x | 6.51x |
| Days Sales Outstanding (DSO) | 78.6 | 69.2 | 57.9 | 61.2 | 46.6 | 50.3 | 41.2 | 56.0 |
| Payables Turnover | 2.29x | 3.25x | 3.11x | 2.55x | 3.29x | 3.59x | 5.49x | 3.75x |
| Days Payable Outstanding (DPO) | 159.2 | 112.2 | 117.4 | 143.1 | 111.1 | 101.6 | 66.5 | 97.3 |
| Cash Conversion Cycle | -67.2 days | -30.3 days | -48.3 days | -70.4 days | -51.4 days | -33.8 days | -12.1 days | -32.4 days |
| Asset Turnover | 1.23x | 1.27x | 1.40x | 1.28x | 1.61x | 1.64x | 1.46x | 1.36x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | -67,788 | 47,751 | 92,425 | 115,496 | 77,081 | 128,294 | 96,721 | 258,142 |
| Free Cash Flow (OCF − Capex proxy) | -67,788 | -69,009 | 1,324 | 98,702 | 33,814 | 84,455 | 43,896 | 177,138 |
| Cash Conversion (OCF / EBITDA) | -65.1% | 97.1% | 119.8% | 146.7% | 60.3% | 54.7% | 46.0% | 123.4% |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | 0.0% | N/A | N/A | N/A | 0.0% | 0.0% | 0.0% | 0.0% |
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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