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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 0 · FY2023 0 · FY2024 0
Oil and oil-products marine terminal at the Georgian Black Sea coast, part of the Caspian-to-Europe export route. Affiliated with SOCAR / Kulevi terminal complex.
Subsidiary of S Respublikis Sakhelmtsipo Navtobis Company (SOCAR) (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 98.7% | 95.9% | 97.7% | 98.5% | 98.8% | 99.0% | 98.9% | 98.6% |
| EBITDA Margin | 58.6% | 22.0% | 41.0% | 48.3% | 52.8% | 47.4% | 58.1% | 63.9% |
| EBITDAR | 38,962 | 15,101 | 26,198 | 27,113 | 34,424 | 35,562 | 61,893 | 83,236 |
| EBITDAR Margin | 67.9% | 31.4% | 41.5% | 48.7% | 53.7% | 47.5% | 59.0% | 64.3% |
| EBIT Margin | 37.3% | -125.5% | 19.0% | 25.3% | 32.8% | 34.2% | 45.7% | 55.4% |
| Net Profit Margin | 11.9% | -121.8% | 17.2% | 20.1% | 29.9% | 31.2% | 50.1% | 63.9% |
| Operating Expense % of Sales | 40.1% | 73.9% | 56.7% | 50.1% | 46.0% | 51.6% | 42.2% | 35.0% |
| Returns | ||||||||
| Return on Assets (ROA) | 2.9% | -36.3% | 5.7% | 5.4% | 12.0% | 8.8% | 16.5% | 20.9% |
| Return on Equity (ROE) | 3.6% | -45.1% | 7.7% | 7.4% | 14.6% | 9.3% | 17.2% | 21.4% |
| ROIC [EBIT / Invested Capital] | 11.4% | -47.8% | 7.8% | 8.9% | 16.7% | 10.5% | 24.2% | 32.0% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 0.0% | 0.0% | 9.0% | 8.9% | 7.3% | 1.5% | 0.0% | 0.0% |
| Debt-to-Equity | 0.00x | 0.00x | 0.12x | 0.12x | 0.09x | 0.02x | 0.00x | 0.00x |
| Debt-to-EBITDA | 0.00x | 0.00x | 0.66x | 0.69x | 0.35x | 0.11x | 0.00x | 0.00x |
| Equity-to-Assets | 81.2% | 80.4% | 73.8% | 72.8% | 82.3% | 95.2% | 96.0% | 97.8% |
| Net Debt | -931 | -3,551 | 12,536 | 7,092 | -5,475 | -8,361 | -106,602 | -163,660 |
| Cash & Equivalents | 931 | 3,551 | 4,602 | 11,495 | 17,197 | 12,314 | 106,602 | 163,660 |
| Total Debt | N/A | N/A | 17,138 | 18,587 | 11,722 | 3,953 | N/A | N/A |
| Liquidity & working capital | ||||||||
| Current Ratio | 0.42x | 2.11x | 2.30x | 2.67x | 3.23x | 6.76x | 12.99x | 24.68x |
| Quick Ratio | 0.13x | 1.84x | 2.12x | 2.54x | 2.97x | 6.57x | 12.45x | 24.05x |
| Cash Ratio | 0.03x | 0.13x | 0.14x | 0.29x | 0.91x | 1.02x | 10.00x | 18.37x |
| Total Current Assets | 14,476 | 55,813 | 77,694 | 107,186 | 61,287 | 81,821 | 138,525 | 219,884 |
| Total Current Liabilities | 34,815 | 26,474 | 33,836 | 40,127 | 19,002 | 12,097 | 10,662 | 8,911 |
| Inventory | 9,807 | 7,101 | 5,905 | 5,086 | 4,800 | 2,402 | 5,826 | 5,548 |
| Trade Receivables | 2,119 | 1,729 | 15,736 | 17,795 | 2,390 | 18,907 | 30,726 | 50,868 |
| Trade Payables | 1,962 | 612 | 1,145 | 821 | 1,348 | 1,480 | 2,964 | 6,865 |
| Net Working Capital | -20,339 | 29,339 | 43,858 | 67,059 | 42,285 | 69,724 | 127,863 | 210,973 |
| Net Working Capital % of Revenue | -35.4% | 60.9% | 69.5% | 120.4% | 65.9% | 93.2% | 121.9% | 163.0% |
| Trade Working Capital | 9,964 | 8,218 | 20,496 | 22,060 | 5,842 | 19,829 | 33,588 | 49,551 |
| Trade Working Capital % of Revenue | 17.4% | 17.1% | 32.5% | 39.6% | 9.1% | 26.5% | 32.0% | 38.3% |
| Change in Trade Working Capital | N/A | -1,746 | 12,278 | 1,564 | -16,218 | 13,987 | 13,759 | 15,963 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 0.08x | 0.28x | 0.25x | 0.17x | 0.16x | 0.31x | 0.20x | 0.33x |
| Days Inventory Outstanding (DIO) | 4760.0 | 1303.8 | 1467.2 | 2163.6 | 2269.4 | 1162.8 | 1781.0 | 1122.5 |
| Receivables Turnover | 27.09x | 27.86x | 4.01x | 3.13x | 26.85x | 3.96x | 3.41x | 2.54x |
| Days Sales Outstanding (DSO) | 13.5 | 13.1 | 91.1 | 116.6 | 13.6 | 92.3 | 106.9 | 143.4 |
| Payables Turnover | 0.38x | 3.25x | 1.28x | 1.05x | 0.57x | 0.51x | 0.40x | 0.26x |
| Days Payable Outstanding (DPO) | 952.3 | 112.4 | 284.5 | 349.3 | 637.3 | 716.4 | 906.1 | 1389.0 |
| Cash Conversion Cycle | 3821.2 days | 1204.5 days | 1273.8 days | 1930.9 days | 1645.7 days | 538.6 days | 981.8 days | -123.0 days |
| Asset Turnover | 0.25x | 0.30x | 0.33x | 0.27x | 0.40x | 0.28x | 0.33x | 0.33x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 22,302 | 9,538 | 12,433 | 24,972 | 28,107 | 21,213 | 51,754 | 60,971 |
| Free Cash Flow (OCF − Capex proxy) | 22,302 | -423 | 5,142 | 11,761 | 50,390 | 564 | 91,550 | 51,126 |
| Cash Conversion (OCF / EBITDA) | 66.3% | 90.0% | 48.1% | 92.8% | 83.0% | 59.8% | 84.9% | 73.7% |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | 0.0% | N/A | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 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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