Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	24.3%	26.1%	23.8%	26.4%	26.1%	34.5%	29.5%
EBITDA Margin	2.8%	13.2%	9.3%	8.4%	10.5%	14.6%	11.7%
EBITDAR	178	1,574	951	411	909	1,083	1,458
EBITDAR Margin	4.2%	13.8%	10.1%	9.9%	11.1%	15.5%	12.2%
EBIT Margin	2.0%	13.1%	9.1%	8.1%	10.3%	14.5%	11.6%
Net Profit Margin	2.7%	12.0%	8.7%	6.3%	8.2%	11.6%	10.4%
Operating Expense % of Sales	21.6%	12.9%	14.5%	18.0%	15.6%	19.9%	17.8%
Returns
Return on Assets (ROA)	10.2%	35.9%	33.7%	10.9%	46.3%	50.7%	33.3%
Return on Equity (ROE)	14.4%	92.6%	41.8%	16.9%	58.6%	104.2%	118.1%
ROIC [EBIT / Invested Capital]	25.7%	N/A	216.2%	159.4%	108.4%	101.2%	86.0%
Leverage & liquidity
Debt-to-Assets	0.0%	0.0%	0.0%	0.0%	0.0%	31.6%	37.6%
Debt-to-Equity	0.00x	0.00x	0.00x	0.00x	0.00x	0.65x	1.33x
Debt-to-EBITDA	0.00x	0.00x	0.00x	0.00x	0.00x	0.49x	1.00x
Equity-to-Assets	70.8%	38.8%	80.7%	64.6%	79.0%	48.6%	28.2%
Net Debt	-449	-1,914	-1,561	-1,333	-369	220	559
Cash & Equivalents	449	1,914	1,561	1,333	369	287	844
Total Debt	N/A	N/A	N/A	N/A	N/A	507	1,403
Efficiency & working capital
Inventory Turnover	N/A	19.66x	19.98x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	18.6	18.3	N/A	N/A	N/A	N/A
Receivables Turnover	65.41x	51.97x	63.95x	28.85x	17.85x	33.39x	6.58x
Days Sales Outstanding (DSO)	5.6	7.0	5.7	12.6	20.5	10.9	55.4
Payables Turnover	9.91x	3.60x	17.40x	3.62x	22.60x	14.63x	6.62x
Days Payable Outstanding (DPO)	36.8	101.3	21.0	100.9	16.1	24.9	55.1
Cash Conversion Cycle	-31.3 days	-75.7 days	3.0 days	-88.2 days	4.3 days	-14.0 days	0.3 days
Asset Turnover	3.81x	2.99x	3.89x	1.74x	5.62x	4.36x	3.20x
Cash flow & dividends
Operating Cash Flow	438	2,093	-29	503	181	1,135	1,498
Free Cash Flow (OCF − Capex proxy)	438	2,138	-46	504	169	1,108	1,494
Cash Conversion (OCF / EBITDA)	372.6%	139.2%	-3.3%	144.6%	21.1%	110.7%	107.2%
Dividends Declared	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividend Payout Ratio	N/A	N/A	N/A	N/A	N/A	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