Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	61.7%	56.4%	59.5%	57.8%	58.9%	59.6%	54.8%
EBITDA Margin	35.8%	36.1%	38.1%	36.9%	38.6%	33.5%	30.4%
EBITDAR	1,134	1,591	1,996	2,664	3,316	3,200	2,715
EBITDAR Margin	36.7%	36.8%	38.7%	37.3%	39.0%	33.9%	30.8%
EBIT Margin	35.1%	35.6%	37.6%	36.6%	38.3%	32.6%	28.8%
Net Profit Margin	28.9%	32.0%	32.8%	36.4%	37.3%	30.6%	24.5%
Operating Expense % of Sales	25.9%	20.3%	21.4%	20.9%	20.3%	26.1%	24.4%
Returns
Return on Assets (ROA)	48.0%	73.4%	60.3%	53.0%	28.4%	22.4%	17.9%
Return on Equity (ROE)	87.0%	86.0%	77.9%	59.3%	35.8%	25.4%	20.4%
ROIC [EBIT / Invested Capital]	113.9%	105.4%	105.1%	90.5%	38.8%	31.8%	25.3%
Leverage & debt balances
Debt-to-Assets	0.0%	0.0%	0.0%	0.0%	2.4%	0.0%	1.2%
Debt-to-Equity	0.00x	0.00x	0.00x	0.00x	0.03x	0.00x	0.01x
Debt-to-EBITDA	0.00x	0.00x	0.00x	0.00x	0.08x	0.00x	0.05x
Equity-to-Assets	55.1%	85.3%	77.5%	89.4%	79.3%	88.2%	87.6%
Net Debt	-74	-145	-328	-1,495	-479	-1,717	-515
Cash & Equivalents	74	145	328	1,495	749	1,717	655
Total Debt	N/A	N/A	N/A	N/A	270	N/A	140
Liquidity & working capital
Current Ratio	2.13x	6.60x	4.37x	9.30x	3.26x	5.03x	4.81x
Quick Ratio	2.13x	4.49x	2.88x	9.30x	3.26x	5.03x	4.81x
Cash Ratio	0.09x	0.53x	0.52x	2.88x	0.37x	1.12x	0.48x
Total Current Assets	1,780	1,818	2,767	4,835	6,652	7,683	6,542
Total Current Liabilities	835	276	633	520	2,042	1,527	1,361
Inventory	N/A	582	946	N/A	N/A	N/A	N/A
Trade Receivables	698	1,068	1,493	2,211	2,988	4,043	4,215
Trade Payables	782	276	603	519	1,989	1,397	1,260
Net Working Capital	945	1,542	2,135	4,315	4,610	6,156	5,180
Net Working Capital % of Revenue	30.6%	35.7%	41.3%	60.5%	54.2%	65.2%	58.7%
Trade Working Capital	-84	1,375	1,836	1,693	998	2,645	2,955
Trade Working Capital % of Revenue	-2.7%	31.8%	35.5%	23.7%	11.7%	28.0%	33.5%
Change in Trade Working Capital	N/A	1,459	461	-143	-694	1,647	310
Turnover & efficiency
Inventory Turnover	N/A	3.23x	2.21x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	112.8	165.1	N/A	N/A	N/A	N/A
Receivables Turnover	4.43x	4.04x	3.46x	3.23x	2.85x	2.34x	2.09x
Days Sales Outstanding (DSO)	82.4	90.2	105.5	113.1	128.2	156.3	174.3
Payables Turnover	1.51x	6.83x	3.47x	5.80x	1.76x	2.73x	3.17x
Days Payable Outstanding (DPO)	241.2	53.4	105.2	62.9	207.8	133.8	115.2
Cash Conversion Cycle	-158.7 days	149.6 days	165.4 days	50.2 days	-79.5 days	22.5 days	59.1 days
Asset Turnover	1.66x	2.30x	1.84x	1.46x	0.76x	0.73x	0.73x
Cash flow & dividends
Operating Cash Flow	-70	72	218	1,250	1,121	2,740	-445
Free Cash Flow (OCF − Capex proxy)	-89	68	215	1,208	-841	1,256	-1,246
Cash Conversion (OCF / EBITDA)	-6.4%	4.6%	11.1%	47.5%	34.1%	86.6%	-16.6%
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

Shareholders

სანან იბრაჰიმოვი100.0%

სანან იბრაჰიმოვიPartner / Shareholder100.0%

Directors & board

დავით ზარიძეDirector

Ownership & directors from companyinfo.ge (public corporate registry).