Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	42.4%	38.3%	43.9%	37.3%	38.7%	42.4%	40.2%
EBITDA Margin	17.1%	11.3%	18.9%	14.5%	11.3%	14.4%	9.8%
EBITDAR	643	435	982	941	700	903	726
EBITDAR Margin	18.9%	13.5%	21.2%	16.9%	13.8%	16.6%	12.4%
EBIT Margin	17.0%	11.1%	18.7%	14.3%	11.0%	14.1%	9.4%
Net Profit Margin	17.6%	11.5%	19.5%	14.3%	9.9%	11.8%	6.7%
Operating Expense % of Sales	25.2%	27.1%	25.0%	22.9%	27.5%	28.0%	30.4%
Returns
Return on Assets (ROA)	30.5%	15.6%	25.6%	19.2%	11.9%	14.4%	8.1%
Return on Equity (ROE)	31.6%	17.6%	31.6%	23.1%	13.3%	14.4%	8.1%
ROIC [EBIT / Invested Capital]	31.2%	15.6%	26.1%	20.4%	13.9%	17.8%	11.5%
Leverage & debt balances
Debt-to-Assets	0.0%	8.4%	15.2%	12.3%	6.9%	0.0%	0.0%
Debt-to-Equity	0.00x	0.09x	0.19x	0.15x	0.08x	0.00x	0.00x
Debt-to-EBITDA	0.00x	0.55x	0.61x	0.63x	0.51x	0.00x	0.00x
Equity-to-Assets	96.5%	88.6%	81.0%	83.5%	89.7%	99.8%	99.9%
Net Debt	-34	188	478	449	228	-138	-28
Cash & Equivalents	34	11	56	61	63	138	28
Total Debt	N/A	199	534	510	291	N/A	N/A
Liquidity & working capital
Current Ratio	N/A	6.32x	3.85x	4.52x	7.17x	N/A	N/A
Quick Ratio	N/A	0.06x	0.10x	4.52x	7.17x	N/A	N/A
Cash Ratio	N/A	0.06x	0.10x	0.12x	0.22x	N/A	N/A
Total Current Assets	874	1,260	2,056	2,305	2,084	2,030	2,087
Total Current Liabilities	N/A	199	534	510	291	N/A	N/A
Inventory	N/A	1,247	2,001	N/A	N/A	N/A	N/A
Trade Receivables	963	956	1,390	1,778	1,988	2,243	2,486
Trade Payables	68	71	135	176	145	7	4
Net Working Capital	874	1,061	1,523	1,795	1,793	2,030	2,087
Net Working Capital % of Revenue	25.7%	32.9%	32.9%	32.2%	35.3%	37.4%	35.8%
Trade Working Capital	895	2,133	3,255	1,601	1,843	2,236	2,482
Trade Working Capital % of Revenue	26.3%	66.2%	70.3%	28.7%	36.3%	41.2%	42.5%
Change in Trade Working Capital	N/A	1,238	1,122	-1,654	242	392	246
Turnover & efficiency
Inventory Turnover	N/A	1.59x	1.30x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	229.2	281.1	N/A	N/A	N/A	N/A
Receivables Turnover	3.54x	3.37x	3.33x	3.14x	2.55x	2.42x	2.35x
Days Sales Outstanding (DSO)	103.2	108.4	109.6	116.2	143.0	150.7	155.4
Payables Turnover	28.97x	28.15x	19.20x	19.83x	21.50x	432.98x	905.29x
Days Payable Outstanding (DPO)	12.6	13.0	19.0	18.4	17.0	0.8	0.4
Cash Conversion Cycle	90.6 days	324.6 days	371.7 days	97.8 days	126.0 days	149.9 days	155.0 days
Asset Turnover	1.74x	1.36x	1.32x	1.35x	1.20x	1.22x	1.21x
Cash flow & dividends
Operating Cash Flow	1,188	18,357	13,328	12,541	11,680	12,535	14,488
Free Cash Flow (OCF − Capex proxy)	1,183	18,336	13,304	12,541	11,680	12,535	14,488
Cash Conversion (OCF / EBITDA)	203.4%	5054.5%	1524.2%	1554.4%	2037.8%	1604.8%	2532.1%
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

Shareholders

ლევან შეროზია100.0%

ლევან შეროზიაind. entrepreneurPartner / Shareholder100.0%

Directors & board

ლევან შეროზიაind. entrepreneurDirector