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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 20,000 — 3-yr total 20,000
Georgia's leading card-processing and electronic-payments company, providing switching and acquiring services to most Georgian banks. Majority-owned by Bank of Georgia.
Group parent — controls 1 company · ownership
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 95.4% | 92.8% | 94.2% | 87.4% | 90.4% | 94.9% | 93.5% | 93.4% |
| EBITDA Margin | 69.2% | 30.7% | 39.2% | 37.9% | 42.6% | 51.7% | 52.4% | 48.9% |
| EBITDAR | 12,196 | 6,869 | 8,913 | 10,278 | 14,214 | 21,871 | 27,861 | 31,671 |
| EBITDAR Margin | 75.1% | 36.3% | 39.2% | 37.9% | 42.6% | 51.7% | 52.4% | 48.9% |
| EBIT Margin | 49.3% | 11.3% | 17.6% | 16.3% | 20.7% | 33.9% | 37.7% | 36.8% |
| Net Profit Margin | 10.2% | 9.2% | 15.4% | 13.8% | 18.4% | 32.7% | 40.1% | 37.9% |
| Operating Expense % of Sales | 26.2% | 62.1% | 55.0% | 49.5% | 47.9% | 43.3% | 41.1% | 44.5% |
| Returns | ||||||||
| Return on Assets (ROA) | 2.7% | 3.2% | 5.9% | 5.1% | 7.0% | 13.0% | 15.8% | 17.1% |
| Return on Equity (ROE) | 6.3% | 6.2% | 11.1% | 10.6% | 16.0% | 26.5% | 29.0% | 31.4% |
| ROIC [EBIT / Invested Capital] | N/A | 292.2% | 104.0% | N/A | N/A | N/A | N/A | N/A |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 0.0% | 0.0% | 1.9% | 1.2% | 1.5% | 0.4% | 3.1% | 2.5% |
| Debt-to-Equity | 0.00x | 0.00x | 0.04x | 0.03x | 0.03x | 0.01x | 0.06x | 0.05x |
| Debt-to-EBITDA | 0.00x | 0.00x | 0.13x | 0.09x | 0.09x | 0.02x | 0.15x | 0.11x |
| Equity-to-Assets | 42.4% | 51.6% | 53.0% | 48.2% | 43.7% | 49.1% | 54.4% | 54.5% |
| Net Debt | -37,816 | -27,275 | -27,660 | -41,480 | -55,551 | -75,891 | -92,299 | -82,789 |
| Cash & Equivalents | 37,816 | 27,275 | 28,778 | 42,382 | 56,860 | 76,358 | 96,546 | 86,407 |
| Total Debt | N/A | N/A | 1,118 | 902 | 1,309 | 467 | 4,247 | 3,618 |
| Liquidity & working capital | ||||||||
| Current Ratio | 1.16x | 1.27x | 1.31x | 1.26x | 1.28x | 1.56x | 1.86x | 1.82x |
| Quick Ratio | 1.11x | 1.14x | 1.15x | 1.22x | 1.24x | 1.51x | 1.83x | 1.76x |
| Cash Ratio | 1.06x | 1.04x | 1.05x | 1.13x | 1.16x | 1.42x | 1.66x | 1.38x |
| Total Current Assets | 41,229 | 33,206 | 35,703 | 47,257 | 62,455 | 83,821 | 108,705 | 113,438 |
| Total Current Liabilities | 35,634 | 26,235 | 27,299 | 37,548 | 48,875 | 53,835 | 58,311 | 62,499 |
| Inventory | 1,625 | 3,404 | 4,336 | 1,403 | 1,980 | 2,556 | 2,189 | 3,522 |
| Trade Receivables | 1,032 | 1,175 | 1,335 | 1,980 | 2,692 | 3,563 | 2,833 | 3,043 |
| Trade Payables | 34,875 | 25,448 | 26,044 | 36,258 | 47,091 | 52,310 | 55,585 | 58,806 |
| Net Working Capital | 5,595 | 6,971 | 8,404 | 9,709 | 13,580 | 29,986 | 50,394 | 50,939 |
| Net Working Capital % of Revenue | 34.5% | 36.8% | 37.0% | 35.8% | 40.7% | 70.8% | 94.8% | 78.7% |
| Trade Working Capital | -32,218 | -20,869 | -20,373 | -32,875 | -42,419 | -46,191 | -50,563 | -52,241 |
| Trade Working Capital % of Revenue | -198.5% | -110.3% | -89.6% | -121.4% | -127.1% | -109.1% | -95.1% | -80.7% |
| Change in Trade Working Capital | N/A | 11,349 | 496 | -12,502 | -9,544 | -3,772 | -4,372 | -1,678 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 0.46x | 0.40x | 0.30x | 2.42x | 1.61x | 0.84x | 1.58x | 1.21x |
| Days Inventory Outstanding (DIO) | 798.3 | 916.9 | 1199.0 | 150.5 | 226.7 | 432.7 | 230.7 | 302.2 |
| Receivables Turnover | 15.73x | 16.10x | 17.03x | 13.68x | 12.40x | 11.88x | 18.77x | 21.28x |
| Days Sales Outstanding (DSO) | 23.2 | 22.7 | 21.4 | 26.7 | 29.4 | 30.7 | 19.4 | 17.2 |
| Payables Turnover | 0.02x | 0.05x | 0.05x | 0.09x | 0.07x | 0.04x | 0.06x | 0.07x |
| Days Payable Outstanding (DPO) | 17132.4 | 6855.0 | 7201.6 | 3890.1 | 5391.5 | 8855.8 | 5858.7 | 5045.6 |
| Cash Conversion Cycle | -16310.9 days | -5915.4 days | -5981.2 days | -3712.9 days | -5135.4 days | -8392.4 days | -5608.5 days | -4726.3 days |
| Asset Turnover | 0.26x | 0.35x | 0.38x | 0.37x | 0.38x | 0.40x | 0.39x | 0.45x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 16,155 | -6,576 | 7,424 | 22,002 | 24,630 | 25,269 | 32,172 | 36,319 |
| Free Cash Flow (OCF − Capex proxy) | 16,155 | -10,541 | 1,364 | 14,037 | 17,773 | 20,470 | 20,718 | 10,871 |
| Cash Conversion (OCF / EBITDA) | 143.8% | -113.2% | 83.3% | 214.1% | 173.3% | 115.5% | 115.5% | 114.7% |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 20,000 |
| Dividend Payout Ratio | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 81.6% |
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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