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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 22,000 · FY2023 52,000 · FY2024 41,000 — 3-yr total 115,000
Georgian trading company. Limited public information available beyond the Reportal filing.
Subsidiary of SRG Real Estate (88.0%)
| Ratio | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| EBITDA Margin | 10.3% | 40.6% | 41.5% | 31.0% | 23.5% |
| EBITDAR | 4,994 | 36,733 | 71,258 | 52,943 | 43,384 |
| EBITDAR Margin | 15.3% | 43.5% | 44.0% | 34.1% | 26.7% |
| EBIT Margin | -20.8% | 31.5% | 35.0% | 22.7% | 15.5% |
| Net Profit Margin | -2.9% | 28.5% | 32.5% | 27.0% | 18.1% |
| Operating Expense % of Sales | 97.6% | 65.2% | 65.9% | 76.3% | 83.3% |
| Returns | |||||
| Return on Assets (ROA) | -1.4% | 28.7% | 44.3% | 41.1% | 34.3% |
| Return on Equity (ROE) | -5.2% | 57.3% | 72.5% | 67.0% | 57.6% |
| ROIC [EBIT / Invested Capital] | -13.6% | 48.0% | 63.2% | 45.2% | 41.3% |
| Leverage & debt balances | |||||
| Debt-to-Assets | 53.6% | 33.4% | 27.1% | 26.6% | 27.5% |
| Debt-to-Equity | 2.01x | 0.67x | 0.44x | 0.43x | 0.46x |
| Debt-to-EBITDA | 10.78x | 0.82x | 0.48x | 0.56x | 0.62x |
| Equity-to-Assets | 26.6% | 50.1% | 61.1% | 61.3% | 59.5% |
| Net Debt | 32,179 | 13,366 | 17,122 | 15,550 | 10,102 |
| Cash & Equivalents | 3,986 | 14,599 | 15,144 | 11,603 | 13,451 |
| Total Debt | 36,165 | 27,965 | 32,266 | 27,153 | 23,553 |
| Liquidity & working capital | |||||
| Current Ratio | 0.99x | 2.16x | 1.33x | 1.61x | 1.50x |
| Quick Ratio | 0.94x | 2.08x | 1.23x | 1.47x | 1.36x |
| Cash Ratio | 0.22x | 0.68x | 0.71x | 0.59x | 0.72x |
| Total Current Assets | 17,806 | 46,573 | 28,580 | 31,682 | 28,062 |
| Total Current Liabilities | 17,939 | 21,611 | 21,431 | 19,660 | 18,732 |
| Inventory | 969 | 1,550 | 2,140 | 2,701 | 2,582 |
| Trade Receivables | 9,013 | 8,624 | 7,465 | 7,581 | 7,763 |
| Trade Payables | 2,417 | 3,814 | 3,655 | 3,873 | 3,892 |
| Net Working Capital | -133 | 24,962 | 7,149 | 12,022 | 9,330 |
| Net Working Capital % of Revenue | -0.4% | 29.6% | 4.4% | 7.7% | 5.7% |
| Trade Working Capital | 7,565 | 6,360 | 5,950 | 6,409 | 6,453 |
| Trade Working Capital % of Revenue | 23.1% | 7.5% | 3.7% | 4.1% | 4.0% |
| Change in Trade Working Capital | N/A | -1,205 | -410 | 459 | 44 |
| Turnover & efficiency | |||||
| Inventory Turnover | N/A | N/A | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | N/A | N/A | N/A | N/A |
| Receivables Turnover | 3.63x | 9.79x | 21.72x | 20.50x | 20.94x |
| Days Sales Outstanding (DSO) | 100.6 | 37.3 | 16.8 | 17.8 | 17.4 |
| Payables Turnover | N/A | N/A | N/A | N/A | N/A |
| Days Payable Outstanding (DPO) | N/A | N/A | N/A | N/A | N/A |
| Cash Conversion Cycle | 100.6 days | 37.3 days | 16.8 days | 17.8 days | 17.4 days |
| Asset Turnover | 0.48x | 1.01x | 1.36x | 1.52x | 1.89x |
| Cash flow & dividends | |||||
| Operating Cash Flow | 2,810 | 32,824 | 63,800 | 45,796 | 36,212 |
| Free Cash Flow (OCF − Capex proxy) | -3,753 | 18,524 | 5,497 | 145 | 5,815 |
| Cash Conversion (OCF / EBITDA) | 83.8% | 95.7% | 94.9% | 95.1% | 94.8% |
| Dividends Declared | 26,000 | 0 | 22,000 | 52,000 | 41,000 |
| Dividend Payout Ratio | N/A | 0.0% | 41.8% | 124.0% | 139.5% |
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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