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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
Operator of Galleria Tbilisi, a major shopping and entertainment mall on Tbilisi's Freedom Square, part of the Adjara Group portfolio.
Subsidiary of Galeria Holding (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 100.0% | 100.0% | 97.6% | 99.8% | 99.7% | 99.8% | 99.7% | 99.8% |
| EBITDA Margin | 7.1% | 69.5% | 72.7% | 66.3% | 69.3% | 73.2% | 73.3% | 64.2% |
| EBITDAR | 143 | 17,110 | 25,185 | 12,963 | 18,389 | 25,440 | 28,031 | 25,637 |
| EBITDAR Margin | 7.1% | 69.5% | 72.7% | 66.3% | 69.3% | 73.2% | 73.3% | 64.2% |
| EBIT Margin | -4.7% | 49.6% | 55.1% | 28.4% | 42.2% | 52.6% | 56.6% | 48.9% |
| Net Profit Margin | -239.7% | -4.5% | -16.2% | -253.7% | 75.8% | 89.1% | 14.6% | 16.5% |
| Operating Expense % of Sales | 92.9% | 30.5% | 24.9% | 33.8% | 31.7% | 26.9% | 26.7% | 36.1% |
| Returns | ||||||||
| Return on Assets (ROA) | -2.5% | -0.6% | -2.8% | -25.3% | 10.3% | 16.0% | 3.0% | 3.7% |
| Return on Equity (ROE) | -6.5% | -1.5% | -20.2% | N/A | 242.5% | 78.9% | 14.5% | 36.6% |
| ROIC [EBIT / Invested Capital] | -0.1% | 6.6% | 10.2% | 3.0% | 6.3% | 10.2% | 12.4% | 11.7% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 57.4% | 59.2% | 80.8% | 103.4% | 91.3% | 75.0% | 74.9% | 85.6% |
| Debt-to-Equity | 1.51x | 1.61x | 5.82x | -13.80x | 21.50x | 3.71x | 3.65x | 8.52x |
| Debt-to-EBITDA | 784.34x | 6.90x | 6.42x | 15.63x | 9.69x | 5.72x | 5.01x | 5.98x |
| Equity-to-Assets | 38.1% | 36.7% | 13.9% | -7.5% | 4.2% | 20.2% | 20.5% | 10.0% |
| Net Debt | 109,992 | 112,731 | 159,220 | 200,532 | 170,958 | 139,235 | 136,212 | 148,695 |
| Cash & Equivalents | 2,168 | 5,354 | 2,415 | 2,041 | 7,286 | 6,403 | 4,084 | 4,491 |
| Total Debt | 112,160 | 118,085 | 161,635 | 202,573 | 178,244 | 145,638 | 140,296 | 153,186 |
| Liquidity & working capital | ||||||||
| Current Ratio | 0.87x | 0.80x | 0.11x | 0.26x | 0.21x | 1.02x | 0.92x | 2.77x |
| Quick Ratio | 0.87x | 0.80x | 0.11x | 0.25x | 0.21x | 1.01x | 0.91x | 2.74x |
| Cash Ratio | 0.35x | 0.42x | 0.03x | 0.06x | 0.12x | 0.38x | 0.24x | 0.94x |
| Total Current Assets | 5,400 | 10,180 | 7,926 | 8,722 | 12,641 | 17,215 | 15,902 | 13,251 |
| Total Current Liabilities | 6,194 | 12,675 | 71,439 | 34,177 | 59,858 | 16,860 | 17,233 | 4,787 |
| Inventory | N/A | N/A | 114 | 98 | 36 | 137 | 141 | 141 |
| Trade Receivables | 2,548 | 3,125 | 5,226 | 6,430 | 4,968 | 6,150 | 6,857 | 8,619 |
| Trade Payables | 2,271 | 1,819 | 979 | 829 | 1,045 | 1,107 | 1,124 | 1,085 |
| Net Working Capital | -794 | -2,495 | -63,513 | -25,455 | -47,217 | 355 | -1,331 | 8,464 |
| Net Working Capital % of Revenue | -39.5% | -10.1% | -183.3% | -130.2% | -178.0% | 1.0% | -3.5% | 21.2% |
| Trade Working Capital | 277 | 1,306 | 4,361 | 5,699 | 3,959 | 5,180 | 5,874 | 7,675 |
| Trade Working Capital % of Revenue | 13.8% | 5.3% | 12.6% | 29.1% | 14.9% | 14.9% | 15.4% | 19.2% |
| Change in Trade Working Capital | N/A | 1,029 | 3,055 | 1,338 | -1,740 | 1,221 | 694 | 1,801 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | N/A | N/A | 7.21x | 0.35x | 1.94x | 0.41x | 0.69x | 0.67x |
| Days Inventory Outstanding (DIO) | N/A | N/A | 50.6 | 1052.1 | 187.7 | 892.9 | 530.6 | 547.5 |
| Receivables Turnover | 0.79x | 7.87x | 6.63x | 3.04x | 5.34x | 5.65x | 5.58x | 4.64x |
| Days Sales Outstanding (DSO) | 463.2 | 46.4 | 55.1 | 120.0 | 68.3 | 64.6 | 65.4 | 78.7 |
| Payables Turnover | N/A | N/A | 0.84x | 0.04x | 0.07x | 0.05x | 0.09x | 0.09x |
| Days Payable Outstanding (DPO) | N/A | N/A | 434.7 | 8899.6 | 5448.9 | 7215.3 | 4229.5 | 4213.0 |
| Cash Conversion Cycle | 463.2 days | 46.4 days | -329.0 days | -7727.5 days | -5192.9 days | -6257.7 days | -3633.5 days | -3586.8 days |
| Asset Turnover | 0.01x | 0.12x | 0.17x | 0.10x | 0.14x | 0.18x | 0.20x | 0.22x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | -24,099 | 20,808 | 12,236 | -2,595 | 6,794 | 12,752 | 14,717 | 26,583 |
| Free Cash Flow (OCF − Capex proxy) | -24,099 | 252 | 3,135 | -8,505 | 2,735 | 7,194 | 13,756 | 27,531 |
| Cash Conversion (OCF / EBITDA) | -16852.4% | 121.6% | 48.6% | -20.0% | 36.9% | 50.1% | 52.5% | 103.7% |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | N/A | N/A | N/A | N/A | 0.0% | 0.0% | 0.0% | 0.0% |
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.
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Ownership & directors from companyinfo.ge (public corporate registry).
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