* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Disinfection Service+ LLC (შპს სადეზინფექციო სერვისი+) is a pest-control and disinfection contractor: deratisation against rodents, disinsection against crawling and flying insects, disinfection against parasites and viruses, plus chemical weed treatment and bird control, on outdoor sites and inside buildings. The previous description on this record said the company "provides services supporting international pipeline projects per Georgian international agreements" and said nothing else. That clause is the standard tax-exemption wording a Georgian contractor cites when it invoices work covered by a pipeline international agreement; it describes who may be paying, not what is sold, and it is contradicted by everything else on the record. The company trades under its own name as a trademark, the Business Information Agency files it under the industry heading disinfection and disinsection with deratisation among its listed services, and its four declared NACE codes are 81290 (other cleaning activities, the heading that carries disinfecting and exterminating), 81220, 81210 and 81100. Registered 21 July 2009; register address Bidzina Baratashvili St 25, Digomi, Saburtalo, Tbilisi, with an operating address at 32 Agladze St, Didube. Held 50% by Development Services Company LLC (405563215) and 25% each by Merab Moistsrapishvili and Darejan Bakuradze; Aleksandre Moistsrapishvili has been director since February 2026, Merab Moistsrapishvili before him. The 50% block sat with Management Engineering Service LLC (454412083) until 2021. Files the Category III simplified form, individual. Revenue is ₾2.06m (FY2020), ₾2.26m (FY2021), ₾2.31m (FY2022), ₾2.30m (FY2023) and ₾1.69m (FY2024). It reports no cost of sales at all, so gross profit equals revenue and the 100% gross margin on this record is the filed figure, not a defect: every cost sits in operating expense. That makes personnel the whole of the margin story. Personnel expense runs ₾1.47m, ₾1.33m, ₾0.73m and ₾0.52m across FY2021 to FY2024, so the EBITDA margin step from 10.8% to 30.3% between FY2022 and FY2023 happened on flat revenue and is a crew being cut: other operating expenses rose only ₾0.13m over the same year, so it is not a reclassification between the two lines. FY2024 then lost 27% of revenue with EBITDA of ₾0.44m at a 26.0% margin. Depreciation is ₾3,466 and total assets ₾0.18m against ₾1.69m of revenue with no debt, which is a labour-and-chemicals business with no equipment base. It is filed under Cleaning & Facilities because this taxonomy has no pest-control bucket; NACE puts disinfecting and exterminating inside cleaning for the same reason.
| Ratio | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| EBITDA Margin | 54.1% | 11.4% | 10.8% | 30.3% | 26.0% |
| EBITDAR | 1,114 | 270 | 260 | 712 | 455 |
| EBITDAR Margin | 54.1% | 11.9% | 11.3% | 30.9% | 27.0% |
| EBIT Margin | 53.8% | 11.2% | 10.6% | 30.1% | 25.8% |
| Net Profit Margin | 57.7% | 11.2% | 10.5% | 30.1% | 25.8% |
| Operating Expense % of Sales | 45.9% | 88.6% | 89.2% | 69.7% | 74.0% |
| Returns | |||||
| Return on Assets (ROA) | 167.5% | 50.0% | 108.0% | 266.2% | 242.6% |
| Return on Equity (ROE) | 171.4% | 74.0% | 117.7% | 268.1% | 244.4% |
| ROIC [EBIT / Invested Capital] | 484.2% | 74.6% | 139.9% | 331.7% | 320.8% |
| Leverage & debt balances | |||||
| Debt-to-Assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Debt-to-Equity | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Debt-to-EBITDA | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Equity-to-Assets | 97.7% | 67.6% | 91.7% | 99.3% | 99.3% |
| Net Debt | -464 | -4 | -31 | -50 | -42 |
| Cash & Equivalents | 464 | 4 | 31 | 50 | 42 |
| Total Debt | N/A | N/A | N/A | N/A | N/A |
| Liquidity & working capital | |||||
| Current Ratio | 43.19x | 2.92x | 10.59x | 130.29x | 122.38x |
| Quick Ratio | 42.52x | 2.92x | 10.59x | 130.29x | 122.38x |
| Cash Ratio | 28.84x | 0.02x | 1.67x | 27.26x | 32.62x |
| Total Current Assets | 694 | 478 | 198 | 237 | 159 |
| Total Current Liabilities | 16 | 164 | 19 | 2 | 1 |
| Inventory | 11 | N/A | N/A | N/A | N/A |
| Trade Receivables | 167 | 308 | 144 | 162 | 100 |
| Trade Payables | 14 | 9 | 10 | N/A | N/A |
| Net Working Capital | 678 | 314 | 179 | 235 | 158 |
| Net Working Capital % of Revenue | 33.0% | 13.9% | 7.7% | 10.2% | 9.4% |
| Trade Working Capital | 164 | 299 | 133 | 162 | 100 |
| Trade Working Capital % of Revenue | 8.0% | 13.2% | 5.8% | 7.1% | 5.9% |
| Change in Trade Working Capital | N/A | 135 | -165 | 29 | -62 |
| Turnover & efficiency | |||||
| Inventory Turnover | N/A | N/A | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | N/A | N/A | N/A | N/A |
| Receivables Turnover | 12.33x | 7.34x | 16.07x | 14.18x | 16.85x |
| Days Sales Outstanding (DSO) | 29.6 | 49.7 | 22.7 | 25.7 | 21.7 |
| Payables Turnover | N/A | N/A | N/A | N/A | N/A |
| Days Payable Outstanding (DPO) | N/A | N/A | N/A | N/A | N/A |
| Cash Conversion Cycle | 29.6 days | 49.7 days | 22.7 days | 25.7 days | 21.7 days |
| Asset Turnover | 2.91x | 4.47x | 10.28x | 8.84x | 9.40x |
| Cash flow & dividends | |||||
| Operating Cash Flow | 660 | 143 | 420 | 629 | 482 |
| Free Cash Flow (OCF − Capex proxy) | 660 | 143 | 420 | 629 | 481 |
| Cash Conversion (OCF / EBITDA) | 59.2% | 55.5% | 168.4% | 90.3% | 109.8% |
| Dividends Declared | N/A | N/A | N/A | N/A | N/A |
| Dividend Payout Ratio | N/A | N/A | N/A | 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.
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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