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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2021 0 · FY2022 0 · FY2023 0
Limited public information available beyond the Reportal filing.
Subsidiary of IBG Holding (100.0%)
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross Margin | 18.6% | 15.9% | 14.6% | 17.9% | 13.9% | 17.2% |
| EBITDA Margin | -1.4% | 2.7% | 6.4% | 14.6% | 9.3% | 12.3% |
| EBITDAR | -1,065 | 3,208 | 5,958 | 19,576 | 14,811 | 19,462 |
| EBITDAR Margin | -1.4% | 4.9% | 7.6% | 15.2% | 9.5% | 12.4% |
| EBIT Margin | -1.4% | 1.9% | 5.9% | 14.1% | 8.8% | 9.7% |
| Net Profit Margin | -11.3% | -37.7% | -2.1% | 3.9% | -0.4% | 2.9% |
| Operating Expense % of Sales | 20.0% | 23.9% | 13.6% | 7.3% | 6.4% | 7.0% |
| Returns | ||||||
| Return on Assets (ROA) | -13.3% | -42.8% | -4.4% | 7.3% | -1.0% | 7.8% |
| Return on Equity (ROE) | N/A | N/A | N/A | N/A | N/A | N/A |
| ROIC [EBIT / Invested Capital] | -4.8% | 4.6% | 32.6% | 51.1% | 109.5% | 51.2% |
| Leverage & debt balances | ||||||
| Debt-to-Assets | 176.2% | 253.1% | 367.3% | 229.4% | 231.8% | 250.1% |
| Debt-to-Equity | -1.29x | -1.23x | -1.12x | -1.34x | -1.21x | -1.31x |
| Debt-to-EBITDA | N/A | 82.47x | 26.94x | 8.33x | 9.78x | 7.63x |
| Equity-to-Assets | -136.0% | -206.0% | -326.8% | -170.7% | -190.8% | -190.5% |
| Net Debt | 112,001 | 146,810 | 135,719 | 152,031 | 129,648 | 142,030 |
| Cash & Equivalents | 4,537 | 360 | 782 | 4,431 | 12,564 | 5,614 |
| Total Debt | 116,539 | 147,170 | 136,500 | 156,463 | 142,213 | 147,644 |
| Liquidity & working capital | ||||||
| Current Ratio | 0.36x | 0.31x | 0.44x | 1.85x | 0.55x | 0.94x |
| Quick Ratio | 0.29x | 0.25x | 0.29x | 1.41x | 0.49x | 0.74x |
| Cash Ratio | 0.03x | 0.00x | 0.01x | 0.19x | 0.16x | 0.11x |
| Total Current Assets | 56,681 | 55,425 | 29,946 | 44,135 | 41,904 | 48,171 |
| Total Current Liabilities | 156,155 | 176,545 | 68,335 | 23,793 | 76,479 | 51,104 |
| Inventory | 10,842 | 12,039 | 10,412 | 10,583 | 4,465 | 10,182 |
| Trade Receivables | 5,089 | 3,336 | 1,411 | 27,602 | 6,708 | 13,248 |
| Trade Payables | 11,622 | 1,532 | 2,369 | 10,427 | 9,213 | 8,561 |
| Net Working Capital | -99,474 | -121,120 | -38,389 | 20,342 | -34,575 | -2,933 |
| Net Working Capital % of Revenue | -128.0% | -183.2% | -48.7% | 15.8% | -22.1% | -1.9% |
| Trade Working Capital | 4,308 | 13,843 | 9,454 | 27,757 | 1,959 | 14,869 |
| Trade Working Capital % of Revenue | 5.5% | 20.9% | 12.0% | 21.6% | 1.3% | 9.5% |
| Change in Trade Working Capital | N/A | 9,535 | -4,389 | 18,303 | -25,798 | 12,910 |
| Turnover & efficiency | ||||||
| Inventory Turnover | 5.83x | 4.62x | 6.46x | 9.99x | 30.19x | 12.76x |
| Days Inventory Outstanding (DIO) | 62.6 | 79.1 | 56.5 | 36.5 | 12.1 | 28.6 |
| Receivables Turnover | 15.27x | 19.82x | 55.83x | 4.66x | 23.33x | 11.84x |
| Days Sales Outstanding (DSO) | 23.9 | 18.4 | 6.5 | 78.2 | 15.6 | 30.8 |
| Payables Turnover | 5.44x | 36.26x | 28.41x | 10.14x | 14.63x | 15.18x |
| Days Payable Outstanding (DPO) | 67.1 | 10.1 | 12.8 | 36.0 | 24.9 | 24.1 |
| Cash Conversion Cycle | 19.4 days | 87.4 days | 50.2 days | 78.8 days | 2.8 days | 35.4 days |
| Asset Turnover | 1.17x | 1.14x | 2.12x | 1.89x | 2.55x | 2.66x |
| Cash flow & dividends | ||||||
| Operating Cash Flow | 2,471 | -8,004 | 617 | -11,177 | 41,367 | -6,289 |
| Free Cash Flow (OCF − Capex proxy) | 14,188 | -11,973 | -1,604 | -10,079 | 36,480 | -903 |
| Cash Conversion (OCF / EBITDA) | N/A | -448.5% | 12.2% | -59.5% | 284.4% | -32.5% |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | N/A | N/A | N/A | 0.0% | N/A | 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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