Ratio	2017	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	78.9%	78.4%	80.3%	77.0%	71.0%	69.4%	75.5%	77.2%
EBITDA Margin	66.9%	48.2%	46.6%	37.2%	3.9%	20.3%	24.5%	40.3%
EBITDAR	3,176	2,276	2,113	1,382	108	588	826	1,521
EBITDAR Margin	66.9%	48.2%	46.6%	37.2%	3.9%	20.3%	24.5%	40.3%
EBIT Margin	64.9%	46.7%	43.9%	34.3%	-1.3%	13.7%	20.6%	36.8%
Net Profit Margin	43.3%	51.1%	53.2%	67.6%	-15.4%	-25.0%	21.2%	43.1%
Operating Expense % of Sales	12.0%	30.1%	33.8%	39.7%	67.1%	49.1%	51.0%	36.8%
Returns
Return on Assets (ROA)	11.6%	12.0%	10.7%	10.1%	-1.7%	-3.0%	2.9%	6.2%
Return on Equity (ROE)	11.7%	12.1%	10.8%	10.1%	-1.7%	-3.0%	2.9%	6.2%
ROIC [EBIT / Invested Capital]	17.8%	11.1%	9.1%	5.2%	-0.1%	1.8%	2.9%	5.4%
Leverage & liquidity
Debt-to-Assets	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Debt-to-Equity	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
Debt-to-EBITDA	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
Equity-to-Assets	99.5%	99.5%	99.4%	99.8%	99.5%	99.4%	99.4%	99.1%
Net Debt	-314	-215	-435	-468	-730	-1,305	-214	-420
Cash & Equivalents	314	215	435	468	730	1,305	214	420
Total Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Efficiency & working capital
Inventory Turnover	3.65x	2.60x	3.80x	2.46x	1.70x	0.96x	0.56x	0.78x
Days Inventory Outstanding (DIO)	100.0	140.5	96.0	148.2	214.2	380.0	655.9	466.0
Receivables Turnover	60.06x	24.41x	11.40x	8.30x	176.59x	64.01x	42.81x	67.63x
Days Sales Outstanding (DSO)	6.1	15.0	32.0	44.0	2.1	5.7	8.5	5.4
Payables Turnover	23.97x	22.48x	18.25x	25.09x	6.81x	5.73x	5.90x	3.84x
Days Payable Outstanding (DPO)	15.2	16.2	20.0	14.5	53.6	63.7	61.9	95.0
Cash Conversion Cycle	90.8 days	139.2 days	108.0 days	177.6 days	162.7 days	322.0 days	602.5 days	376.4 days
Asset Turnover	0.27x	0.23x	0.20x	0.15x	0.11x	0.12x	0.14x	0.14x
Cash flow & dividends
Operating Cash Flow	1,076	1,104	539	503	917	1,539	-49	291
Free Cash Flow (OCF − Capex proxy)	1,076	-364	-298	59	315	637	-1,079	219
Cash Conversion (OCF / EBITDA)	33.9%	48.5%	25.5%	36.4%	845.6%	261.8%	-5.9%	19.1%
Dividends Declared	0	0	0	0	0	0	0	0
Dividend Payout Ratio	0.0%	0.0%	0.0%	0.0%	N/A	N/A	0.0%	0.0%

Money rows — EBITDAR, net debt, cash, total debt, operating and free cash flow, dividends declared — are in ₾ '000. Margins, returns and payout are percentages; turnover and leverage are multiples; DIO/DSO/DPO are days. Hover a metric name for its definition.

Ownership & group structure

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.

companyinfo.ge · fetched 2026-07-15