Ratio	2019	2020
Margins
Gross Margin	100.0%	100.0%
EBITDA Margin	-24.5%	-119.3%
EBITDAR	-671	-1,724
EBITDAR Margin	-24.1%	-119.3%
EBIT Margin	-40.1%	-150.4%
Net Profit Margin	-122.6%	-386.0%
Operating Expense % of Sales	124.5%	219.3%
Returns
Return on Assets (ROA)	-34.9%	-56.5%
Return on Equity (ROE)	N/A	N/A
ROIC [EBIT / Invested Capital]	-11.8%	-22.7%
Leverage & liquidity
Debt-to-Assets	370.0%	425.0%
Debt-to-Equity	-1.35x	-1.30x
Debt-to-EBITDA	N/A	N/A
Equity-to-Assets	-273.4%	-327.4%
Net Debt	36,180	41,886
Cash & Equivalents	4	56
Total Debt	36,183	41,942
Efficiency & working capital
Inventory Turnover	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	N/A
Receivables Turnover	6.76x	3.04x
Days Sales Outstanding (DSO)	54.0	120.0
Payables Turnover	N/A	N/A
Days Payable Outstanding (DPO)	N/A	N/A
Cash Conversion Cycle	54.0 days	120.0 days
Asset Turnover	0.29x	0.15x
Cash flow & dividends
Operating Cash Flow	203	205
Free Cash Flow (OCF − Capex proxy)	-64	111
Cash Conversion (OCF / EBITDA)	N/A	N/A
Dividends Declared	N/A	N/A
Dividend Payout Ratio	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