Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	34.9%	43.8%	68.9%	37.0%	36.9%	49.2%	73.7%
EBITDA Margin	2.7%	15.4%	42.6%	9.7%	-23.9%	19.9%	53.0%
EBITDAR	254	1,171	3,335	996	-1,156	1,832	6,552
EBITDAR Margin	4.4%	16.7%	43.9%	10.8%	-22.2%	20.8%	53.7%
EBIT Margin	-2.4%	11.8%	39.5%	7.5%	-29.5%	17.0%	51.6%
Net Profit Margin	-2.2%	20.1%	42.6%	3.3%	-42.6%	19.3%	47.2%
Operating Expense % of Sales	32.3%	28.5%	26.3%	27.3%	60.8%	29.3%	20.7%
Returns
Return on Assets (ROA)	-1.4%	14.5%	31.6%	3.4%	-25.6%	22.0%	61.4%
Return on Equity (ROE)	-5.1%	37.0%	49.9%	5.5%	-68.5%	35.0%	69.4%
ROIC [EBIT / Invested Capital]	-5.6%	17.9%	40.6%	11.6%	-31.9%	33.3%	96.0%
Leverage & liquidity
Debt-to-Assets	5.0%	11.5%	14.2%	11.2%	19.4%	4.8%	2.2%
Debt-to-Equity	0.19x	0.29x	0.22x	0.18x	0.52x	0.08x	0.03x
Debt-to-EBITDA	2.97x	1.04x	0.45x	1.10x	N/A	0.21x	0.03x
Equity-to-Assets	27.1%	39.2%	63.3%	61.9%	37.3%	62.8%	88.6%
Net Debt	44	823	897	560	1,569	-348	-1,747
Cash & Equivalents	410	298	557	425	109	718	1,956
Total Debt	454	1,121	1,454	985	1,677	370	209
Efficiency & working capital
Inventory Turnover	N/A	6.37x	6.10x	19.60x	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	57.3	59.9	18.6	N/A	N/A	N/A
Receivables Turnover	2.48x	2.17x	3.70x	18.89x	4.87x	18.66x	15.50x
Days Sales Outstanding (DSO)	147.3	168.2	98.6	19.3	74.9	19.6	23.5
Payables Turnover	0.61x	0.82x	1.08x	2.46x	0.88x	1.79x	5.62x
Days Payable Outstanding (DPO)	600.9	443.7	337.4	148.4	416.9	204.2	65.0
Cash Conversion Cycle	-453.6 days	-218.2 days	-178.9 days	-110.5 days	-342.0 days	-184.6 days	-41.4 days
Asset Turnover	0.63x	0.72x	0.74x	1.05x	0.60x	1.14x	1.30x
Cash flow & dividends
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow (OCF − Capex proxy)	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash Conversion (OCF / EBITDA)	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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