Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	13.7%	16.5%	13.5%	14.3%	25.8%	25.3%	26.3%
EBITDA Margin	2.6%	5.1%	5.4%	4.3%	17.7%	15.4%	15.4%
EBITDAR	218	406	525	410	2,006	1,453	1,339
EBITDAR Margin	2.9%	5.5%	5.6%	4.5%	18.0%	15.8%	15.8%
EBIT Margin	2.6%	5.1%	5.4%	3.9%	17.5%	15.1%	15.0%
Net Profit Margin	2.2%	4.4%	4.2%	2.3%	12.1%	12.4%	13.3%
Operating Expense % of Sales	11.1%	11.4%	8.2%	10.0%	8.1%	9.8%	10.9%
Returns
Return on Assets (ROA)	9.5%	22.9%	23.0%	8.6%	62.9%	44.4%	49.5%
Return on Equity (ROE)	18.2%	26.2%	27.0%	12.6%	129.4%	73.7%	79.7%
ROIC [EBIT / Invested Capital]	18.8%	36.4%	36.0%	20.3%	171.1%	104.1%	94.5%
Leverage & debt balances
Debt-to-Assets	25.9%	4.9%	14.7%	31.1%	46.6%	30.7%	19.8%
Debt-to-Equity	0.49x	0.06x	0.17x	0.46x	0.96x	0.51x	0.32x
Debt-to-EBITDA	2.31x	0.18x	0.50x	1.97x	0.51x	0.56x	0.35x
Equity-to-Assets	52.3%	87.1%	85.3%	67.7%	48.6%	60.2%	62.1%
Net Debt	126	-189	-57	91	97	-210	-68
Cash & Equivalents	324	259	307	668	903	1,001	521
Total Debt	450	70	250	759	1,000	791	453
Liquidity & working capital
Current Ratio	1.41x	4.63x	4.50x	2.24x	1.03x	2.58x	3.62x
Quick Ratio	1.41x	3.60x	2.28x	2.24x	1.08x	2.58x	3.62x
Cash Ratio	0.39x	1.41x	1.23x	0.85x	0.56x	1.27x	1.15x
Total Current Assets	1,170	848	1,124	1,768	1,669	2,041	1,639
Total Current Liabilities	830	183	250	788	1,624	791	453
Inventory	N/A	189	553	N/A	-89	N/A	N/A
Trade Receivables	464	400	265	282	375	595	755
Trade Payables	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Working Capital	341	665	874	980	44	1,249	1,187
Net Working Capital % of Revenue	4.6%	8.9%	9.4%	10.8%	0.4%	13.6%	14.0%
Trade Working Capital	464	589	818	282	285	595	755
Trade Working Capital % of Revenue	6.2%	7.9%	8.8%	3.1%	2.6%	6.5%	8.9%
Change in Trade Working Capital	N/A	125	229	-536	4	310	160
Turnover & efficiency
Inventory Turnover	N/A	32.83x	14.58x	N/A	-92.44x	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	11.1	25.0	N/A	-3.9	N/A	N/A
Receivables Turnover	16.07x	18.60x	35.21x	32.07x	29.75x	15.45x	11.25x
Days Sales Outstanding (DSO)	22.7	19.6	10.4	11.4	12.3	23.6	32.4
Payables Turnover	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Days Payable Outstanding (DPO)	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash Conversion Cycle	22.7 days	30.7 days	35.4 days	11.4 days	8.3 days	23.6 days	32.4 days
Asset Turnover	4.29x	5.24x	5.50x	3.70x	5.19x	3.57x	3.72x
Cash flow & dividends
Operating Cash Flow	185	-101	59	354	342	86	146
Free Cash Flow (OCF − Capex proxy)	185	-101	59	354	342	86	146
Cash Conversion (OCF / EBITDA)	94.8%	-26.4%	11.8%	91.9%	17.3%	6.0%	11.1%
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