Ratio	2017	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	34.5%	38.3%	24.7%	30.8%	32.3%	42.3%	42.9%	42.8%
EBITDA Margin	11.3%	14.4%	-14.6%	-3.4%	8.7%	19.3%	21.0%	17.6%
EBITDAR	1,393	1,905	287	374	963	1,812	1,808	1,444
EBITDAR Margin	23.4%	33.0%	6.0%	13.1%	18.9%	27.2%	28.3%	25.9%
EBIT Margin	11.0%	14.0%	-15.2%	-4.3%	8.3%	19.1%	20.8%	17.3%
Net Profit Margin	0.6%	3.8%	-15.1%	-2.5%	8.9%	17.3%	19.0%	14.9%
Operating Expense % of Sales	23.2%	23.9%	39.4%	34.2%	23.6%	23.0%	21.9%	25.2%
Returns
Return on Assets (ROA)	0.8%	5.6%	-20.7%	-2.2%	11.9%	27.6%	25.8%	17.7%
Return on Equity (ROE)	0.8%	5.6%	-20.7%	-2.2%	12.0%	27.8%	26.0%	18.0%
ROIC [EBIT / Invested Capital]	16.1%	22.0%	-21.1%	-3.8%	11.6%	31.1%	28.8%	20.9%
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	N/A	N/A	0.00x	0.00x	0.00x	0.00x
Equity-to-Assets	97.2%	99.7%	99.7%	99.1%	99.3%	99.4%	99.3%	98.3%
Net Debt	-163	-273	-43	-135	-113	-39	-73	-31
Cash & Equivalents	163	273	43	135	113	39	73	31
Total Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Efficiency & working capital
Inventory Turnover	N/A	N/A	1.08x	0.62x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	N/A	339.2	586.3	N/A	N/A	N/A	N/A
Receivables Turnover	217.31x	346.96x	351.55x	328.64x	822.31x	866.07x	108421.98x	5815.44x
Days Sales Outstanding (DSO)	1.7	1.1	1.0	1.1	0.4	0.4	0.0	0.1
Payables Turnover	31.73x	279.82x	318.34x	66.07x	129.85x	154.81x	118.53x	39.03x
Days Payable Outstanding (DPO)	11.5	1.3	1.1	5.5	2.8	2.4	3.1	9.4
Cash Conversion Cycle	-9.8 days	-0.3 days	339.1 days	581.9 days	-2.4 days	-1.9 days	-3.1 days	-9.3 days
Asset Turnover	1.37x	1.46x	1.37x	0.85x	1.34x	1.60x	1.36x	1.18x
Cash flow & dividends
Operating Cash Flow	54	109	-30	142	-23	672	674	788
Free Cash Flow (OCF − Capex proxy)	54	109	-30	142	-23	672	674	788
Cash Conversion (OCF / EBITDA)	8.1%	13.2%	N/A	N/A	-5.1%	52.3%	50.2%	80.5%
Dividends Declared	0	0	N/A	N/A	N/A	N/A	N/A	N/A
Dividend Payout Ratio	0.0%	0.0%	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