Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	47.3%	43.7%	30.2%	30.0%	40.6%	45.2%	44.7%
EBITDA Margin	17.9%	13.5%	-6.2%	4.0%	6.3%	16.8%	10.3%
EBITDAR	1,713	1,739	389	1,330	1,734	3,092	2,639
EBITDAR Margin	30.3%	28.3%	7.4%	16.9%	18.8%	28.2%	21.4%
EBIT Margin	17.9%	12.8%	-19.4%	3.2%	5.5%	16.1%	8.7%
Net Profit Margin	14.3%	11.1%	-14.4%	9.5%	11.3%	14.7%	14.2%
Operating Expense % of Sales	29.5%	30.1%	36.4%	26.0%	34.3%	28.4%	34.4%
Returns
Return on Assets (ROA)	28.3%	11.3%	-13.2%	8.7%	10.2%	17.6%	16.8%
Return on Equity (ROE)	100.0%	47.7%	-58.1%	18.7%	20.5%	44.4%	37.3%
ROIC [EBIT / Invested Capital]	56.1%	27.7%	-34.2%	4.1%	7.1%	30.7%	14.0%
Leverage & liquidity
Debt-to-Assets	35.6%	34.9%	30.0%	24.9%	21.2%	23.9%	28.3%
Debt-to-Equity	1.26x	1.48x	1.32x	0.54x	0.42x	0.60x	0.63x
Debt-to-EBITDA	1.01x	2.55x	N/A	6.81x	3.72x	1.19x	2.32x
Equity-to-Assets	28.3%	23.7%	22.7%	46.2%	49.8%	39.7%	45.1%
Net Debt	991	1,403	1,694	2,125	2,063	2,098	2,935
Cash & Equivalents	29	716	34	27	101	94	14
Total Debt	1,021	2,119	1,729	2,153	2,164	2,192	2,948
Efficiency & working capital
Inventory Turnover	N/A	1.13x	0.95x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	322.6	384.6	N/A	N/A	N/A	N/A
Receivables Turnover	29.85x	36.00x	32.46x	38.92x	21.73x	17.73x	71.11x
Days Sales Outstanding (DSO)	12.2	10.1	11.2	9.4	16.8	20.6	5.1
Payables Turnover	3.22x	1.38x	1.36x	2.33x	2.06x	1.92x	2.47x
Days Payable Outstanding (DPO)	113.2	264.8	268.2	156.4	176.9	190.1	147.8
Cash Conversion Cycle	-101.0 days	68.0 days	127.6 days	-147.0 days	-160.1 days	-169.6 days	-142.6 days
Asset Turnover	1.97x	1.01x	0.92x	0.91x	0.90x	1.19x	1.18x
Cash flow & dividends
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow (OCF − Capex proxy)	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash Conversion (OCF / EBITDA)	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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