Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	99.8%	99.7%	97.7%	96.1%	94.9%	96.9%	89.5%
EBITDA Margin	41.0%	43.7%	37.7%	22.9%	7.7%	10.9%	7.4%
EBITDAR	3,236	4,057	3,279	1,269	371	601	522
EBITDAR Margin	42.1%	44.5%	38.4%	23.6%	8.4%	12.0%	8.8%
EBIT Margin	39.9%	42.9%	37.0%	21.9%	6.6%	10.0%	6.8%
Net Profit Margin	39.4%	43.6%	37.6%	22.5%	4.1%	11.2%	7.9%
Operating Expense % of Sales	58.8%	56.0%	60.0%	73.2%	87.3%	86.0%	82.1%
Returns
Return on Assets (ROA)	73.9%	48.7%	28.3%	85.2%	11.4%	29.6%	26.4%
Return on Equity (ROE)	74.3%	49.3%	28.5%	87.0%	11.5%	30.1%	27.1%
ROIC [EBIT / Invested Capital]	76.4%	50.5%	28.6%	97.5%	23.2%	29.5%	23.9%
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	0.00x	0.00x	0.00x
Equity-to-Assets	99.6%	98.7%	99.4%	98.0%	99.2%	98.2%	97.2%
Net Debt	-63	-313	-230	-182	-316	-163	-57
Cash & Equivalents	63	313	230	182	316	163	57
Total Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Liquidity & working capital
Current Ratio	8.52x	0.70x	0.11x	2.19x	10.18x	1.92x	5.80x
Quick Ratio	8.52x	0.08x	-0.38x	2.19x	10.18x	1.92x	5.80x
Cash Ratio	3.49x	2.89x	3.56x	6.46x	24.89x	4.86x	1.13x
Total Current Assets	154	76	7	62	129	64	292
Total Current Liabilities	18	108	64	28	13	33	50
Inventory	N/A	68	31	N/A	N/A	N/A	N/A
Trade Receivables	3,346	7,257	10,728	813	771	996	787
Trade Payables	18	108	64	18	13	26	50
Net Working Capital	136	-32	-58	33	116	31	242
Net Working Capital % of Revenue	1.8%	-0.4%	-0.7%	0.6%	2.6%	0.6%	4.1%
Trade Working Capital	3,328	7,216	10,695	795	758	970	737
Trade Working Capital % of Revenue	43.3%	79.1%	125.4%	14.8%	17.1%	19.4%	12.4%
Change in Trade Working Capital	N/A	3,888	3,479	-9,900	-37	212	-234
Turnover & efficiency
Inventory Turnover	N/A	0.40x	6.32x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	907.7	57.7	N/A	N/A	N/A	N/A
Receivables Turnover	2.30x	1.26x	0.80x	6.61x	5.75x	5.03x	7.56x
Days Sales Outstanding (DSO)	158.7	290.4	459.1	55.2	63.5	72.6	48.3
Payables Turnover	1.06x	0.25x	3.06x	11.68x	17.69x	6.05x	12.45x
Days Payable Outstanding (DPO)	345.2	1453.5	119.3	31.2	20.6	60.3	29.3
Cash Conversion Cycle	-186.4 days	-255.3 days	397.5 days	24.0 days	42.8 days	12.3 days	18.9 days
Asset Turnover	1.88x	1.12x	0.75x	3.79x	2.80x	2.63x	3.33x
Cash flow & dividends
Operating Cash Flow	32	250	-84	-47	133	-135	-88
Free Cash Flow (OCF − Capex proxy)	32	250	-84	-47	133	-135	-88
Cash Conversion (OCF / EBITDA)	1.0%	6.3%	-2.6%	-3.8%	39.2%	-24.7%	-20.1%
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 ₾ '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

Directors & board

მარინე ვაშაკიძეDirector შეზღუდული პასუხისმგებლობის საზოგადოება ენ-არ-სი ინთერნეიშენალ სერვისიზind. entrepreneurDirector შეზღუდული პასუხისმგებლობის საზოგადოება ენ-არ-სი ინთერნეიშენალ სერვისიზind. entrepreneurდამფუძნებელი

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