Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	89.3%	89.4%	90.9%	95.7%	95.3%	94.8%	95.3%
EBITDA Margin	6.2%	10.1%	13.5%	14.8%	-15.3%	8.9%	16.3%
EBITDAR	256	446	679	760	-630	483	1,022
EBITDAR Margin	6.2%	10.1%	13.5%	14.8%	-15.3%	8.9%	16.3%
EBIT Margin	3.5%	7.6%	9.3%	10.5%	-21.5%	4.1%	12.0%
Net Profit Margin	5.7%	10.0%	13.0%	14.8%	-15.5%	5.5%	15.9%
Operating Expense % of Sales	83.2%	79.3%	77.4%	80.9%	110.6%	85.9%	79.0%
Returns
Return on Assets (ROA)	4.7%	8.5%	11.3%	11.8%	-11.4%	5.2%	15.5%
Return on Equity (ROE)	4.8%	8.7%	11.5%	12.1%	-11.6%	5.4%	15.8%
ROIC [EBIT / Invested Capital]	4.3%	9.7%	11.6%	14.0%	-20.2%	4.6%	16.3%
Leverage & debt balances
Debt-to-Assets	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
Debt-to-EBITDA	0.00x	0.00x	0.00x	0.00x	N/A	0.00x	0.00x
Equity-to-Assets	97.8%	97.1%	97.9%	97.4%	97.6%	97.3%	98.0%
Net Debt	-1,460	-1,625	-1,685	-2,428	-1,092	-729	-1,713
Cash & Equivalents	1,460	1,625	1,685	2,428	1,092	729	1,713
Total Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Liquidity & working capital
Current Ratio	20.11x	15.38x	19.66x	18.04x	14.82x	12.48x	21.99x
Quick Ratio	20.11x	14.18x	18.57x	18.04x	14.82x	12.48x	21.99x
Cash Ratio	13.46x	10.75x	13.55x	14.52x	8.05x	4.70x	13.47x
Total Current Assets	2,181	2,325	2,446	3,016	2,011	1,936	2,798
Total Current Liabilities	108	151	124	167	136	155	127
Inventory	N/A	181	136	N/A	N/A	N/A	N/A
Trade Receivables	364	406	430	422	431	488	478
Trade Payables	41	46	62	103	83	101	83
Net Working Capital	2,073	2,173	2,321	2,848	1,876	1,781	2,670
Net Working Capital % of Revenue	50.1%	49.3%	46.2%	55.5%	45.7%	32.7%	42.5%
Trade Working Capital	323	541	504	319	347	387	395
Trade Working Capital % of Revenue	7.8%	12.3%	10.0%	6.2%	8.5%	7.1%	6.3%
Change in Trade Working Capital	N/A	218	-37	-185	28	40	8
Turnover & efficiency
Inventory Turnover	N/A	2.57x	3.35x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	142.2	108.9	N/A	N/A	N/A	N/A
Receivables Turnover	11.38x	10.86x	11.68x	12.16x	9.54x	11.16x	13.14x
Days Sales Outstanding (DSO)	32.1	33.6	31.2	30.0	38.3	32.7	27.8
Payables Turnover	10.76x	10.15x	7.39x	2.12x	2.33x	2.81x	3.55x
Days Payable Outstanding (DPO)	33.9	36.0	49.4	171.9	156.9	129.9	102.7
Cash Conversion Cycle	-1.9 days	139.9 days	90.8 days	-141.9 days	-118.6 days	-97.2 days	-74.9 days
Asset Turnover	0.83x	0.85x	0.87x	0.80x	0.73x	0.94x	0.97x
Cash flow & dividends
Operating Cash Flow	72	3	772	678	-922	67	853
Free Cash Flow (OCF − Capex proxy)	72	3	-92	537	-1,533	-444	866
Cash Conversion (OCF / EBITDA)	28.2%	0.6%	113.7%	89.2%	N/A	13.9%	83.4%
Dividends Declared	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividend Payout Ratio	N/A	N/A	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.

companyinfo.ge · fetched 2026-07-15

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.

Shareholders

K.tbilisis Meria100.0%

K.tbilisis Meriaქ.თბილისის მერიაPartner / Shareholder100.0%

Directors & board

Nodar Razmadzeნოდარ რაზმაძეDirector

Ownership & directors from companyinfo.ge (public corporate registry).

Key statistics

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Revenue & margins

Financial statements

Ownership & group structure

Shareholders

Directors & board