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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2016 0 · FY2017 284 · FY2018 5,498 — 3-yr total 5,782
Leading Georgian lifestyle hospitality group operating Rooms Hotels, Stamba Hotel, Fabrika hostel, and several restaurant brands in Tbilisi and Kazbegi.
Subsidiary of Achara Jgupis Aktivebis Martvis Company (100.0%)
| Ratio | 2017 | 2018 | 2020 | 2021 |
|---|---|---|---|---|
| Margins | ||||
| Gross Margin | 92.8% | 93.7% | 67.3% | 75.3% |
| EBITDA Margin | 68.7% | 65.1% | -56.0% | 23.8% |
| EBITDAR | 22,158 | 20,297 | -10,204 | 17,374 |
| EBITDAR Margin | 68.7% | 65.1% | -38.3% | 26.1% |
| EBIT Margin | 63.5% | 57.6% | -68.5% | 1.2% |
| Net Profit Margin | 42.1% | 29.5% | -86.5% | 2.0% |
| Operating Expense % of Sales | 24.1% | 28.7% | 133.5% | 55.6% |
| Returns | ||||
| Return on Assets (ROA) | 21.2% | 16.0% | -21.9% | 1.0% |
| Return on Equity (ROE) | 36.8% | 27.0% | -78.7% | 3.1% |
| ROIC [EBIT / Invested Capital] | 33.1% | 33.1% | -19.2% | 0.8% |
| Leverage & debt balances | ||||
| Debt-to-Assets | 39.6% | 35.5% | 62.8% | 56.1% |
| Debt-to-Equity | 0.69x | 0.60x | 2.26x | 1.77x |
| Debt-to-EBITDA | 1.14x | 1.01x | N/A | 4.69x |
| Equity-to-Assets | 57.6% | 59.2% | 27.8% | 31.7% |
| Net Debt | 25,068 | 20,315 | 65,605 | 66,770 |
| Cash & Equivalents | 287 | 95 | 672 | 7,485 |
| Total Debt | 25,355 | 20,410 | 66,277 | 74,255 |
| Liquidity & working capital | ||||
| Current Ratio | 0.45x | 0.46x | 0.70x | 0.41x |
| Quick Ratio | 0.45x | 0.46x | 0.60x | 0.31x |
| Cash Ratio | 0.03x | 0.02x | 0.02x | 0.18x |
| Total Current Assets | 4,649 | 2,066 | 20,070 | 17,523 |
| Total Current Liabilities | 10,397 | 4,483 | 28,688 | 42,620 |
| Inventory | N/A | N/A | 2,786 | 4,119 |
| Trade Receivables | 4,206 | 1,715 | 1,878 | 3,811 |
| Trade Payables | 1,370 | 2,486 | 8,331 | 11,837 |
| Net Working Capital | -5,748 | -2,417 | -8,618 | -25,097 |
| Net Working Capital % of Revenue | -17.8% | -7.7% | -32.3% | -37.7% |
| Trade Working Capital | 2,836 | -771 | -3,667 | -3,907 |
| Trade Working Capital % of Revenue | 8.8% | -2.5% | -13.8% | -5.9% |
| Change in Trade Working Capital | N/A | -3,607 | N/A | -240 |
| Turnover & efficiency | ||||
| Inventory Turnover | N/A | N/A | 3.13x | 4.00x |
| Days Inventory Outstanding (DIO) | N/A | N/A | 116.6 | 91.3 |
| Receivables Turnover | 7.67x | 18.19x | 14.20x | 17.49x |
| Days Sales Outstanding (DSO) | 47.6 | 20.1 | 25.7 | 20.9 |
| Payables Turnover | 1.70x | 0.79x | 1.05x | 1.39x |
| Days Payable Outstanding (DPO) | 214.8 | 463.0 | 348.6 | 262.3 |
| Cash Conversion Cycle | -167.2 days | -442.9 days | -206.3 days | -150.2 days |
| Asset Turnover | 0.50x | 0.54x | 0.25x | 0.50x |
| Cash flow & dividends | ||||
| Operating Cash Flow | 9,391 | 12,960 | -2,968 | 5,506 |
| Free Cash Flow (OCF − Capex proxy) | 9,391 | 12,960 | -12,050 | -5,993 |
| Cash Conversion (OCF / EBITDA) | 42.4% | 63.9% | N/A | 34.8% |
| Dividends Declared | 284 | 5,498 | N/A | N/A |
| Dividend Payout Ratio | 2.1% | 59.8% | N/A | N/A |
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.
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Ownership & directors from companyinfo.ge (public corporate registry).
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