Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	24.2%	29.2%	35.4%	8.8%	11.2%	15.5%	14.7%
EBITDA Margin	7.6%	14.5%	18.4%	4.3%	6.7%	9.9%	8.0%
EBITDAR	560	1,334	1,451	389	607	842	675
EBITDAR Margin	7.6%	14.5%	18.4%	4.3%	6.8%	10.0%	8.1%
EBIT Margin	7.4%	13.6%	17.5%	4.0%	6.5%	9.7%	7.7%
Net Profit Margin	7.6%	14.5%	18.9%	4.0%	5.4%	8.0%	6.0%
Operating Expense % of Sales	16.6%	14.8%	17.0%	4.5%	4.5%	5.5%	6.6%
Returns
Return on Assets (ROA)	24.1%	34.9%	33.6%	7.6%	10.2%	14.4%	11.1%
Return on Equity (ROE)	25.1%	39.3%	34.1%	7.9%	10.5%	15.0%	11.8%
ROIC [EBIT / Invested Capital]	28.5%	39.5%	32.6%	8.7%	13.7%	21.3%	17.1%
Leverage & debt balances
Debt-to-Assets	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
Debt-to-EBITDA	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
Equity-to-Assets	95.8%	88.8%	98.5%	95.7%	97.2%	96.3%	94.6%
Net Debt	-305	-217	-131	-319	-372	-664	-465
Cash & Equivalents	305	217	131	319	373	664	466
Total Debt	N/A	N/A	N/A	0	0	0	0
Liquidity & working capital
Current Ratio	14.10x	4.85x	34.87x	12.90x	19.92x	68.45x	10.89x
Quick Ratio	14.10x	0.97x	5.02x	12.90x	19.92x	68.45x	10.89x
Cash Ratio	3.13x	0.51x	1.90x	1.58x	2.77x	13.38x	2.34x
Total Current Assets	1,377	2,066	2,399	2,600	2,683	3,400	2,164
Total Current Liabilities	98	426	69	201	135	50	199
Inventory	N/A	1,651	2,054	N/A	N/A	N/A	N/A
Trade Receivables	221	180	212	258	249	201	127
Trade Payables	4	360	N/A	37	N/A	N/A	50
Net Working Capital	1,280	1,640	2,330	2,398	2,549	3,350	1,965
Net Working Capital % of Revenue	17.4%	17.8%	29.6%	26.7%	28.4%	39.7%	23.5%
Trade Working Capital	217	1,471	2,266	220	249	201	77
Trade Working Capital % of Revenue	3.0%	16.0%	28.8%	2.4%	2.8%	2.4%	0.9%
Change in Trade Working Capital	N/A	1,253	795	-2,046	28	-47	-124
Turnover & efficiency
Inventory Turnover	N/A	3.95x	2.48x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	92.5	147.2	N/A	N/A	N/A	N/A
Receivables Turnover	33.20x	51.27x	37.20x	34.92x	36.16x	41.89x	65.93x
Days Sales Outstanding (DSO)	11.0	7.1	9.8	10.5	10.1	8.7	5.5
Payables Turnover	1390.41x	18.10x	N/A	218.72x	N/A	N/A	144.06x
Days Payable Outstanding (DPO)	0.3	20.2	N/A	1.7	N/A	N/A	2.5
Cash Conversion Cycle	10.7 days	79.4 days	157.0 days	8.8 days	10.1 days	8.7 days	3.0 days
Asset Turnover	3.18x	2.41x	1.77x	1.91x	1.90x	1.81x	1.86x
Cash flow & dividends
Operating Cash Flow	461	958	278	188	53	292	-199
Free Cash Flow (OCF − Capex proxy)	334	62	-86	188	53	292	-199
Cash Conversion (OCF / EBITDA)	82.8%	72.0%	19.2%	48.8%	8.8%	34.8%	-29.6%
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