Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	36.0%	30.3%	22.9%	21.9%	23.6%	23.0%	20.2%
EBITDA Margin	5.8%	13.9%	-13.7%	10.5%	-0.6%	5.4%	0.8%
EBITDAR	205	611	-555	725	-49	466	69
EBITDAR Margin	6.2%	14.2%	-13.7%	10.5%	-0.6%	5.4%	0.8%
EBIT Margin	4.5%	13.1%	-14.8%	9.8%	-1.3%	4.8%	0.1%
Net Profit Margin	5.8%	6.8%	-13.7%	12.8%	6.7%	4.8%	-2.5%
Operating Expense % of Sales	30.2%	16.4%	36.6%	11.4%	24.2%	17.6%	19.4%
Returns
Return on Assets (ROA)	5.8%	6.3%	-12.5%	15.9%	9.6%	7.0%	-3.3%
Return on Equity (ROE)	N/A	227.1%	N/A	192.3%	52.3%	30.0%	-19.9%
ROIC [EBIT / Invested Capital]	N/A	228.0%	N/A	N/A	-10.0%	32.5%	0.8%
Leverage & debt balances
Debt-to-Assets	9.0%	10.3%	11.0%	3.5%	1.7%	0.1%	8.9%
Debt-to-Equity	-1.80x	3.73x	-1.15x	0.42x	0.09x	0.01x	0.53x
Debt-to-EBITDA	1.56x	0.81x	N/A	0.27x	N/A	0.01x	8.87x
Equity-to-Assets	-5.0%	2.8%	-9.6%	8.3%	18.3%	23.5%	16.6%
Net Debt	-61	117	53	-572	30	-111	414
Cash & Equivalents	357	364	436	765	61	118	202
Total Debt	296	481	489	194	91	7	616
Liquidity & working capital
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Quick Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Current Assets	2,687	3,690	3,446	777	687	1,131	1,148
Total Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Inventory	N/A	2,805	2,381	N/A	N/A	N/A	N/A
Trade Receivables	258	480	621	N/A	N/A	N/A	N/A
Trade Payables	3,130	4,075	4,378	4,879	4,122	4,385	5,090
Net Working Capital	2,687	3,690	3,446	777	687	1,131	1,148
Net Working Capital % of Revenue	81.5%	86.0%	84.9%	11.2%	9.1%	13.1%	12.7%
Trade Working Capital	-2,872	-790	-1,376	-4,879	-4,122	-4,385	-5,090
Trade Working Capital % of Revenue	-87.1%	-18.4%	-33.9%	-70.6%	-54.5%	-50.9%	-56.2%
Change in Trade Working Capital	N/A	2,082	-586	-3,503	757	-263	-705
Turnover & efficiency
Inventory Turnover	N/A	1.07x	1.31x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	342.3	277.8	N/A	N/A	N/A	N/A
Receivables Turnover	12.78x	8.94x	6.54x	N/A	N/A	N/A	N/A
Days Sales Outstanding (DSO)	28.6	40.8	55.8	N/A	N/A	N/A	N/A
Payables Turnover	0.67x	0.73x	0.71x	1.11x	1.40x	1.51x	1.42x
Days Payable Outstanding (DPO)	540.9	497.3	510.8	329.8	260.4	241.4	257.2
Cash Conversion Cycle	-512.4 days	-114.1 days	-177.2 days	-329.8 days	-260.4 days	-241.4 days	-257.2 days
Asset Turnover	1.00x	0.92x	0.91x	1.24x	1.43x	1.47x	1.31x
Cash flow & dividends
Operating Cash Flow	136	7	72	330	17,436	18,853	22,100
Free Cash Flow (OCF − Capex proxy)	136	7	72	330	17,436	18,853	22,100
Cash Conversion (OCF / EBITDA)	71.6%	1.2%	N/A	45.5%	N/A	4047.5%	31810.3%
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

დავით გაბიცინაშვილი40.0%
ანრი სიდამონიძე40.0%
Undisclosed / other20.0%

დავით გაბიცინაშვილიPartner / Shareholder40.0%ანრი სიდამონიძე

Key metrics

Revenue & margins

Financial statements

Ownership & group structure

Shareholders

Directors & board