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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
Georgian Distribution and Logistics LLC (GDL) is a diversified Georgian distributor with regional coverage since 2010 — full alcoholic-beverages portfolio since 2011, 3PL services since 2018 and water distribution since 2019. ~12,000 active clients, 7 branches, 165 vehicles and 600 staff.
Subsidiary of Georgian Beer and Beverage Holding (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 19.8% | 20.4% | 16.7% | 14.3% | 16.2% | 16.2% | 19.3% | 17.5% |
| EBITDA Margin | 12.0% | 3.2% | 0.4% | 3.7% | 4.1% | 5.3% | 4.6% | 3.7% |
| EBITDAR | 3,036 | 1,070 | 523 | 3,721 | 4,971 | 9,598 | 9,532 | 8,571 |
| EBITDAR Margin | 12.9% | 4.3% | 0.7% | 3.9% | 4.4% | 5.5% | 5.0% | 3.9% |
| EBIT Margin | 9.1% | 1.5% | -1.0% | 1.7% | 2.4% | 4.1% | 3.3% | 1.8% |
| Net Profit Margin | 1.6% | 0.8% | -1.4% | 1.3% | 2.3% | 3.8% | 3.0% | 1.2% |
| Operating Expense % of Sales | 7.9% | 17.2% | 16.3% | 10.5% | 12.4% | 11.1% | 14.7% | 13.8% |
| Returns | ||||||||
| Return on Assets (ROA) | 3.5% | 1.7% | -4.3% | 4.6% | 9.1% | 15.6% | 9.8% | 3.4% |
| Return on Equity (ROE) | 11.3% | 5.6% | -43.6% | 31.9% | 41.7% | 51.0% | 30.7% | 12.8% |
| ROIC [EBIT / Invested Capital] | 86.9% | 11.6% | -24.0% | 38.0% | 40.2% | 45.9% | 23.9% | 13.6% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 0.0% | 0.0% | 7.4% | 13.2% | 7.2% | 7.7% | 16.6% | 13.1% |
| Debt-to-Equity | 0.00x | 0.00x | 0.74x | 0.92x | 0.33x | 0.25x | 0.52x | 0.49x |
| Debt-to-EBITDA | 0.00x | 0.00x | 5.44x | 0.97x | 0.45x | 0.36x | 1.11x | 1.23x |
| Equity-to-Assets | 30.8% | 30.0% | 10.0% | 14.3% | 21.9% | 30.5% | 31.8% | 26.5% |
| Net Debt | -950 | -323 | 830 | 432 | 552 | 2,689 | 7,425 | 8,437 |
| Cash & Equivalents | 950 | 323 | 1,041 | 2,977 | 1,546 | 607 | 2,375 | 1,495 |
| Total Debt | N/A | N/A | 1,871 | 3,409 | 2,098 | 3,296 | 9,800 | 9,932 |
| Liquidity & working capital | ||||||||
| Current Ratio | 1.29x | 1.35x | 1.07x | 1.14x | 1.22x | 1.31x | 1.41x | 1.31x |
| Quick Ratio | 0.87x | 0.83x | 0.83x | 0.91x | 0.87x | 0.90x | 0.90x | 0.89x |
| Cash Ratio | 0.12x | 0.04x | 0.05x | 0.14x | 0.07x | 0.02x | 0.07x | 0.03x |
| Total Current Assets | 9,899 | 11,435 | 22,499 | 23,710 | 26,293 | 35,824 | 46,046 | 63,669 |
| Total Current Liabilities | 7,703 | 8,478 | 21,075 | 20,842 | 21,638 | 27,246 | 32,732 | 48,741 |
| Inventory | 3,220 | 4,376 | 5,041 | 4,727 | 7,534 | 11,246 | 16,504 | 20,348 |
| Trade Receivables | 5,350 | 6,345 | 15,916 | 15,560 | 16,627 | 23,475 | 26,657 | 41,065 |
| Trade Payables | 7,027 | 7,637 | 19,274 | 17,487 | 18,787 | 24,288 | 28,605 | 42,442 |
| Net Working Capital | 2,196 | 2,957 | 1,424 | 2,868 | 4,655 | 8,578 | 13,314 | 14,928 |
| Net Working Capital % of Revenue | 9.3% | 11.8% | 1.8% | 3.0% | 4.1% | 4.9% | 7.0% | 6.8% |
| Trade Working Capital | 1,543 | 3,084 | 1,683 | 2,800 | 5,374 | 10,433 | 14,556 | 18,971 |
| Trade Working Capital % of Revenue | 6.6% | 12.3% | 2.1% | 3.0% | 4.7% | 6.0% | 7.6% | 8.6% |
| Change in Trade Working Capital | N/A | 1,541 | -1,401 | 1,117 | 2,574 | 5,059 | 4,123 | 4,415 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 5.86x | 4.55x | 13.25x | 17.14x | 12.66x | 12.97x | 9.33x | 8.91x |
| Days Inventory Outstanding (DIO) | 62.2 | 80.1 | 27.6 | 21.3 | 28.8 | 28.1 | 39.1 | 41.0 |
| Receivables Turnover | 4.40x | 3.94x | 5.04x | 6.08x | 6.85x | 7.41x | 7.16x | 5.35x |
| Days Sales Outstanding (DSO) | 82.9 | 92.5 | 72.4 | 60.1 | 53.3 | 49.2 | 51.0 | 68.2 |
| Payables Turnover | 2.69x | 2.61x | 3.46x | 4.63x | 5.08x | 6.01x | 5.38x | 4.27x |
| Days Payable Outstanding (DPO) | 135.8 | 139.9 | 105.3 | 78.8 | 71.9 | 60.8 | 67.8 | 85.5 |
| Cash Conversion Cycle | 9.3 days | 32.8 days | -5.4 days | 2.6 days | 10.2 days | 16.6 days | 22.3 days | 23.8 days |
| Asset Turnover | 2.12x | 2.07x | 3.16x | 3.65x | 3.91x | 4.09x | 3.24x | 2.90x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 424 | -1,271 | 2,382 | 1,079 | 1,860 | 4,052 | 4,090 | 2,917 |
| Free Cash Flow (OCF − Capex proxy) | 424 | -664 | -994 | 855 | 874 | 926 | 2,910 | 1,972 |
| Cash Conversion (OCF / EBITDA) | 15.0% | -159.1% | 692.4% | 30.6% | 39.6% | 43.8% | 46.5% | 36.3% |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | 0.0% | 0.0% | N/A | 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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