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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 5,000 · FY2023 0 · FY2024 5,000 — 3-yr total 10,000
Georgian Railway-affiliated logistics and terminals operator, providing freight handling and intermodal services along the Caucasus transit corridor.
Subsidiary of Georgian Railway (100.0%)
| Line item | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | 16,273 | 41,445 | 61,593 | 51,646 | 70,235 | 132,384 | 152,054 | 144,009 | +36.5% |
| Total COGS | 13,210 | 32,552 | 49,553 | 45,814 | 61,849 | 114,149 | 140,175 | 130,542 | +38.7% |
| Gross Profit | 3,063 | 8,893 | 12,040 | 5,832 | 8,386 | 18,235 | 11,879 | 13,467 | +23.6% |
| Gross Margin | 18.8% | 21.5% | 19.5% | 11.3% | 11.9% | 13.8% | 7.8% | 9.4% | |
| Other Operating Income | 0 | 0 | 0 | 1,025 | 151 | 149 | 257 | 219 | -32.0% |
| 965 | 5,030 | 4,558 | 6,874 | 5,374 | 5,884 | 8,810 | 7,155 | +33.1% | |
| EBITDA | 2,098 | 3,863 | 7,482 | 17 | 3,163 | 12,500 | 3,326 | 6,531 | +17.6% |
| EBITDA Margin | 12.9% | 9.3% | 12.1% | 0.0% | 4.5% | 9.4% | 2.2% | 4.5% | |
| Total D&A | 571 | 2,396 | 3,041 | 3,168 | 2,680 | 2,720 | 2,744 | 2,455 | +23.2% |
| EBIT / Operating Income | 1,527 | 1,467 | 4,441 | 3,185 | 483 | 9,780 | 582 | 4,076 | +15.1% |
| Total Interest Income | 44 | 26 | 54 | 239 | 200 | 739 | 1,978 | 1,339 | +62.9% |
| Total Other Income | 84 | 217 | 784 | 1,957 | 530 | 1,800 | 553 | 1,448 | nmf |
| Profit Before Tax | 1,487 | 1,710 | 5,279 | 989 | 153 | 8,719 | 3,113 | 6,863 | +24.4% |
| Total Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Net Profit / (Loss) | 498 | 1,710 | 5,279 | 989 | 153 | 8,719 | 3,113 | 6,863 | nmf |
| Net Margin | 3.1% | 4.1% | 8.6% | 1.9% | 0.2% | 6.6% | 2.0% | 4.8% |
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).
Ranked by how close each latest revenue is to this one — not a curated comp set.