United Financial Group (შპს გაერთიანებული საფინანსო ჯგუფი)

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United Financial Group (შპს გაერთიანებული საფინანსო ჯგუფი) — Georgia Financials

separate · GEL, thousands

financial ratiosXLSX

Ratio	2017	2018	2019	2020	2021	2022	2023
Margins
Gross Margin	100.0%	89.3%	89.4%	92.3%	91.9%	86.8%	92.1%
EBITDA Margin	67.6%	15.3%	-8.2%	-0.7%	-4.4%	-13.1%	-13.7%
EBITDAR	7,195	2,643	6	1,421	1,203	-3,971	-1,923
EBITDAR Margin	77.3%	17.6%	0.0%	6.8%	4.5%	-13.1%	-3.4%
EBIT Margin	64.3%	12.6%	-13.4%	-5.3%	-8.1%	-17.2%	-17.0%
Net Profit Margin	29.3%	18.2%	15.0%	16.5%	14.4%	21.3%	0.1%
Operating Expense % of Sales	32.4%	76.2%	99.5%	95.5%	99.0%	102.9%	106.8%
Returns
Return on Assets (ROA)	5.6%	11.4%	7.5%	6.0%	6.0%	8.7%	0.0%
Return on Equity (ROE)	33.6%	41.0%	28.5%	26.7%	23.6%	28.7%	0.1%
ROIC [EBIT / Invested Capital]	105.5%	26.8%	-26.9%	N/A	-6.5%	-12.8%	-18.8%
Leverage & debt balances
Debt-to-Assets	23.8%	28.8%	30.7%	25.2%	63.6%	59.3%	66.2%
Debt-to-Equity	1.43x	1.04x	1.16x	1.12x	2.52x	1.96x	2.64x
Debt-to-EBITDA	1.84x	3.02x	N/A	N/A	N/A	N/A	N/A
Equity-to-Assets	16.7%	27.7%	26.4%	22.4%	25.2%	30.3%	25.1%
Net Debt	-2,431	385	-424	-13,830	17,279	17,992	27,607
Cash & Equivalents	14,007	6,547	10,981	28,289	23,897	26,135	34,202
Total Debt	11,576	6,932	10,556	14,459	41,176	44,127	61,808
Liquidity & working capital
Current Ratio	1.42x	1.44x	1.72x	1.36x	1.40x	1.34x	1.33x
Quick Ratio	1.39x	1.37x	1.65x	1.32x	1.36x	1.29x	1.27x
Cash Ratio	0.45x	0.39x	0.66x	0.77x	0.64x	0.58x	0.85x
Total Current Assets	44,214	24,146	28,834	49,906	52,393	60,864	53,251
Total Current Liabilities	31,073	16,757	16,753	36,630	37,451	45,434	40,125
Inventory	1,174	1,220	1,215	1,467	1,415	2,123	2,292
Trade Receivables	20,490	2,703	7,222	8,237	11,654	13,651	15,993
Trade Payables	28,192	1,395	1,479	1,733	2,508	3,584	4,192
Net Working Capital	13,141	7,389	12,081	13,276	14,942	15,431	13,127
Net Working Capital % of Revenue	141.2%	49.1%	69.9%	63.5%	55.5%	50.9%	23.3%
Trade Working Capital	-6,529	2,528	6,958	7,971	10,561	12,191	14,094
Trade Working Capital % of Revenue	-70.1%	16.8%	40.3%	38.1%	39.2%	40.2%	25.0%
Change in Trade Working Capital	N/A	9,057	4,430	1,013	2,591	1,629	1,903
Turnover & efficiency
Inventory Turnover	N/A	1.32x	1.50x	1.10x	1.54x	1.88x	1.94x
Days Inventory Outstanding (DIO)	N/A	277.2	243.0	330.5	237.5	193.7	187.9
Receivables Turnover	0.45x	5.56x	2.39x	2.54x	2.31x	2.22x	3.53x
Days Sales Outstanding (DSO)	803.4	65.6	152.6	143.8	158.0	164.4	103.4
Payables Turnover	N/A	1.15x	1.23x	0.93x	0.87x	1.12x	1.06x
Days Payable Outstanding (DPO)	N/A	316.8	295.8	390.4	420.8	326.9	343.5
Cash Conversion Cycle	803.4 days	26.0 days	99.8 days	83.9 days	-25.3 days	31.2 days	-52.2 days
Asset Turnover	0.19x	0.62x	0.50x	0.36x	0.42x	0.41x	0.60x
Cash flow & dividends
Operating Cash Flow	8,572	-4,584	2,590	12,649	-1,890	11,721	10,074
Free Cash Flow (OCF − Capex proxy)	8,572	-5,215	2,291	11,788	-5,199	4,192	957
Cash Conversion (OCF / EBITDA)	136.3%	-199.7%	N/A	N/A	N/A	N/A	N/A
Dividends Declared	317	1,399	52	236	308	284	373
Dividend Payout Ratio	11.6%	51.0%	2.0%	6.9%	8.0%	4.4%	1267.3%

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.

United Financial Group

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