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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 0
State-owned company managing Georgia's irrigation and drainage / amelioration infrastructure. PIE filer.
Subsidiary of Sakhelmtsipo (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 90.9% | 90.1% | 88.5% | 50.1% | 75.8% | 78.5% | 75.0% | 74.9% |
| EBITDA Margin | 52.2% | -15.5% | -10.2% | -917.9% | -482.1% | -518.8% | -542.1% | -516.7% |
| EBITDAR | 10,940 | -3,324 | -2,444 | -26,765 | -28,229 | -32,548 | -34,481 | -36,149 |
| EBITDAR Margin | 52.2% | -15.5% | -10.2% | -917.9% | -482.1% | -518.8% | -542.1% | -516.7% |
| EBIT Margin | -153.8% | -184.4% | -121.7% | -1157.2% | -617.3% | -632.0% | -580.6% | -564.0% |
| Net Profit Margin | -227.8% | -183.2% | -128.7% | -4125.7% | -233.9% | -627.4% | -476.0% | -407.5% |
| Operating Expense % of Sales | 38.8% | 105.6% | 98.7% | 968.0% | 557.9% | 597.2% | 617.1% | 591.6% |
| Returns | ||||||||
| Return on Assets (ROA) | -44.8% | -54.2% | -34.0% | -145.2% | -18.9% | -33.0% | -22.9% | -22.9% |
| Return on Equity (ROE) | -52.8% | -69.6% | -55.3% | -230.2% | -37.2% | -62.3% | -54.0% | -56.6% |
| ROIC [EBIT / Invested Capital] | -51.9% | -65.2% | -56.8% | -61.2% | -112.9% | -83.8% | -113.2% | -123.2% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 10.4% | 17.2% | 15.2% | 16.3% | 15.2% | 9.8% | 9.4% | 10.6% |
| Debt-to-Equity | 0.12x | 0.22x | 0.25x | 0.26x | 0.30x | 0.19x | 0.22x | 0.26x |
| Debt-to-EBITDA | 1.01x | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity-to-Assets | 84.8% | 77.9% | 61.5% | 63.1% | 50.9% | 53.0% | 42.4% | 40.4% |
| Net Debt | -28,280 | 4,196 | -4,431 | 2,892 | -4,764 | -15,800 | -23,484 | -18,368 |
| Cash & Equivalents | 39,379 | 8,277 | 18,202 | 10,608 | 15,722 | 27,524 | 35,973 | 31,624 |
| Total Debt | 11,099 | 12,473 | 13,771 | 13,500 | 10,958 | 11,724 | 12,489 | 13,256 |
| Liquidity & working capital | ||||||||
| Current Ratio | 3.28x | 1.14x | 1.66x | 1.40x | 1.80x | 2.54x | 2.21x | 2.13x |
| Quick Ratio | 3.03x | 0.88x | 1.39x | 1.13x | 1.54x | 2.28x | 2.02x | 1.85x |
| Cash Ratio | 2.52x | 0.53x | 1.06x | 0.65x | 1.07x | 1.81x | 1.79x | 1.63x |
| Total Current Assets | 51,294 | 17,812 | 28,400 | 22,953 | 26,345 | 38,680 | 44,366 | 41,332 |
| Total Current Liabilities | 15,635 | 15,622 | 17,159 | 16,393 | 14,672 | 15,248 | 20,099 | 19,435 |
| Inventory | 3,935 | 4,054 | 4,569 | 4,386 | 3,701 | 3,956 | 3,748 | 5,359 |
| Trade Receivables | 4,458 | 572 | 646 | 1,366 | 1,559 | 998 | 612 | 524 |
| Trade Payables | 4,536 | 3,149 | 3,327 | 2,832 | 3,276 | 2,720 | 6,780 | 5,281 |
| Net Working Capital | 35,660 | 2,190 | 11,241 | 6,560 | 11,673 | 23,432 | 24,267 | 21,897 |
| Net Working Capital % of Revenue | 170.0% | 10.2% | 46.9% | 225.0% | 199.3% | 373.5% | 381.5% | 313.0% |
| Trade Working Capital | 3,857 | 1,476 | 1,888 | 2,920 | 1,984 | 2,234 | -2,420 | 602 |
| Trade Working Capital % of Revenue | 18.4% | 6.9% | 7.9% | 100.1% | 33.9% | 35.6% | -38.0% | 8.6% |
| Change in Trade Working Capital | N/A | -2,381 | 412 | 1,032 | -936 | 250 | -4,654 | 3,022 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 0.48x | 0.53x | 0.60x | 0.33x | 0.38x | 0.34x | 0.42x | 0.33x |
| Days Inventory Outstanding (DIO) | 756.2 | 695.0 | 605.0 | 1101.0 | 954.0 | 1068.0 | 860.9 | 1115.2 |
| Receivables Turnover | 4.70x | 37.50x | 37.10x | 2.13x | 3.76x | 6.29x | 10.39x | 13.35x |
| Days Sales Outstanding (DSO) | 77.6 | 9.7 | 9.8 | 171.0 | 97.2 | 58.1 | 35.1 | 27.3 |
| Payables Turnover | 0.42x | 0.68x | 0.83x | 0.51x | 0.43x | 0.50x | 0.23x | 0.33x |
| Days Payable Outstanding (DPO) | 871.7 | 539.9 | 440.6 | 710.9 | 844.4 | 734.3 | 1557.4 | 1099.0 |
| Cash Conversion Cycle | -37.9 days | 164.8 days | 174.3 days | 561.1 days | 206.7 days | 391.7 days | -661.3 days | 43.6 days |
| Asset Turnover | 0.20x | 0.30x | 0.26x | 0.04x | 0.08x | 0.05x | 0.05x | 0.06x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | -65 | -744 | -5,829 | -22,371 | -21,414 | -26,334 | -18,539 | -23,941 |
| Free Cash Flow (OCF − Capex proxy) | -65 | -31,638 | -26,075 | -52,670 | -45,576 | -50,083 | -68,450 | -66,220 |
| Cash Conversion (OCF / EBITDA) | -0.6% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | N/A | 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.
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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