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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 4,818 · FY2023 7,214 · FY2024 0 — 3-yr total 12,032
Operates in Real Estate. Per the activity note to the FY2024 annual report, the company rents out office spaces. Also owns 100% stake in Club 71, which rents out properties.
Group parent — controls 2 companies · ownership
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 49.7% | 80.8% | 84.2% | 91.2% | 95.3% | 62.4% | 94.8% | 84.5% |
| EBITDA Margin | 40.5% | 57.3% | 61.2% | 76.2% | 68.5% | 44.1% | 72.7% | 67.5% |
| EBITDAR | 2,308 | 2,773 | 3,162 | 3,301 | 5,479 | 6,560 | 9,640 | 12,114 |
| EBITDAR Margin | 40.5% | 57.3% | 61.2% | 76.2% | 68.5% | 44.1% | 72.7% | 67.5% |
| EBIT Margin | 16.8% | 48.0% | 52.9% | 66.2% | 66.5% | 42.9% | 71.0% | 66.2% |
| Net Profit Margin | -21.2% | 82.3% | -7.9% | -11.9% | -59.7% | 27.0% | 253.1% | 34.1% |
| Operating Expense % of Sales | 9.2% | 23.5% | 23.0% | 15.1% | 26.9% | 18.3% | 22.1% | 17.0% |
| Returns | ||||||||
| Return on Assets (ROA) | -5.8% | 18.4% | -1.9% | -2.4% | -5.5% | 5.0% | 29.4% | 5.2% |
| Return on Equity (ROE) | N/A | 206.7% | -23.1% | -147.2% | N/A | N/A | 459.2% | 880.8% |
| ROIC [EBIT / Invested Capital] | 4.8% | 11.0% | 13.0% | 14.2% | 6.5% | 8.6% | 9.0% | 11.0% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 114.0% | 89.3% | 90.1% | 95.1% | 116.2% | 116.8% | 85.3% | 94.0% |
| Debt-to-Equity | -6.11x | 10.06x | 11.18x | 58.32x | -5.56x | -4.92x | 13.31x | 159.59x |
| Debt-to-EBITDA | 10.31x | 6.99x | 6.22x | 6.19x | 18.43x | 14.23x | 10.09x | 9.15x |
| Equity-to-Assets | -18.6% | 8.9% | 8.1% | 1.6% | -20.9% | -23.7% | 6.4% | 0.6% |
| Net Debt | 23,763 | 19,263 | 19,224 | 19,904 | 100,462 | 93,152 | 97,141 | 106,991 |
| Cash & Equivalents | 41 | 126 | 449 | 524 | 516 | 164 | 84 | 3,877 |
| Total Debt | 23,804 | 19,389 | 19,672 | 20,428 | 100,978 | 93,316 | 97,225 | 110,868 |
| Liquidity & working capital | ||||||||
| Current Ratio | 0.77x | 0.37x | 0.50x | 0.43x | 6.00x | 0.43x | 0.48x | 0.95x |
| Quick Ratio | 0.37x | 0.23x | 0.38x | 0.36x | 0.64x | 0.39x | 0.47x | 0.94x |
| Cash Ratio | 0.03x | 0.07x | 0.18x | 0.17x | 0.08x | 0.02x | 0.01x | 0.61x |
| Total Current Assets | 1,036 | 658 | 1,281 | 1,299 | 37,700 | 4,445 | 6,571 | 6,074 |
| Total Current Liabilities | 1,353 | 1,795 | 2,540 | 3,025 | 6,287 | 10,356 | 13,630 | 6,367 |
| Inventory | 537 | 239 | 312 | 214 | 33,672 | 455 | 167 | 115 |
| Trade Receivables | 424 | 262 | 259 | 211 | 557 | 726 | 2,437 | 646 |
| Trade Payables | 705 | 102 | 93 | 331 | 338 | 440 | 7,894 | 559 |
| Net Working Capital | -317 | -1,137 | -1,258 | -1,725 | 31,414 | -5,911 | -7,059 | -293 |
| Net Working Capital % of Revenue | -5.6% | -23.5% | -24.4% | -39.8% | 392.7% | -39.8% | -53.2% | -1.6% |
| Trade Working Capital | 256 | 399 | 478 | 94 | 33,891 | 741 | -5,289 | 202 |
| Trade Working Capital % of Revenue | 4.5% | 8.2% | 9.3% | 2.2% | 423.7% | 5.0% | -39.9% | 1.1% |
| Change in Trade Working Capital | N/A | 143 | 79 | -384 | 33,796 | -33,150 | -6,030 | 5,491 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 5.35x | 3.89x | 2.61x | 1.77x | 0.01x | 12.27x | 4.08x | 24.26x |
| Days Inventory Outstanding (DIO) | 68.2 | 93.7 | 139.6 | 206.0 | 33039.1 | 29.7 | 89.4 | 15.0 |
| Receivables Turnover | 13.46x | 18.51x | 19.92x | 20.51x | 14.37x | 20.49x | 5.44x | 27.81x |
| Days Sales Outstanding (DSO) | 27.1 | 19.7 | 18.3 | 17.8 | 25.4 | 17.8 | 67.1 | 13.1 |
| Payables Turnover | 4.07x | 9.16x | 8.75x | 1.15x | 1.10x | 12.69x | 0.09x | 4.98x |
| Days Payable Outstanding (DPO) | 89.6 | 39.8 | 41.7 | 318.5 | 331.4 | 28.8 | 4216.0 | 73.3 |
| Cash Conversion Cycle | 5.8 days | 73.6 days | 116.2 days | -94.7 days | 32733.0 days | 18.8 days | -4059.5 days | -45.1 days |
| Asset Turnover | 0.27x | 0.22x | 0.24x | 0.20x | 0.09x | 0.19x | 0.12x | 0.15x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 1,740 | -267 | 1,356 | 3,045 | -3,927 | 28,347 | 14,196 | 13,357 |
| Free Cash Flow (OCF − Capex proxy) | 1,740 | 1,435 | 1,275 | 2,020 | 9,345 | -10,210 | 18,611 | 89 |
| Cash Conversion (OCF / EBITDA) | 75.4% | -9.6% | 42.9% | 92.2% | -71.7% | 432.1% | 147.3% | 110.3% |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 4,818 | 7,214 | 0 |
| Dividend Payout Ratio | N/A | 0.0% | N/A | N/A | N/A | 119.9% | 21.5% | 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.
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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