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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 5,202 · FY2024 253 — 3-yr total 5,455
Operates in FMCG — Distribution. Per the activity note to the FY2024 annual report, the company distributes imported goods in Georgia.
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 21.3% | 27.0% | 28.5% | 41.4% | 32.1% | 38.8% | 37.6% | 35.7% |
| EBITDA Margin | 12.8% | 5.3% | 0.0% | 12.5% | 3.9% | 11.1% | 7.4% | 3.9% |
| EBITDAR | 4,655 | 2,366 | 361 | 9,268 | 3,830 | 12,344 | 9,754 | 6,022 |
| EBITDAR Margin | 13.4% | 6.2% | 0.6% | 13.1% | 3.9% | 11.3% | 7.9% | 4.6% |
| EBIT Margin | 12.3% | 4.8% | -0.6% | 12.1% | 3.1% | 10.5% | 7.1% | 3.6% |
| Net Profit Margin | 3.3% | 3.7% | -2.0% | 9.8% | 2.7% | 9.5% | 5.7% | 2.7% |
| Operating Expense % of Sales | 8.5% | 21.7% | 28.5% | 28.8% | 28.2% | 27.7% | 30.1% | 31.8% |
| Returns | ||||||||
| Return on Assets (ROA) | 9.3% | 10.0% | -6.0% | 27.2% | 8.8% | 28.1% | 15.6% | 6.5% |
| Return on Equity (ROE) | 16.6% | 16.9% | -15.5% | 49.8% | 18.3% | 42.2% | 26.5% | 11.9% |
| ROIC [EBIT / Invested Capital] | 39.9% | 19.4% | -2.4% | 39.3% | 14.0% | 38.5% | 20.5% | 10.0% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 34.1% | 29.0% | 44.2% | 36.4% | 43.7% | 27.7% | 37.3% | 41.9% |
| Debt-to-Equity | 0.61x | 0.49x | 1.14x | 0.67x | 0.91x | 0.42x | 0.63x | 0.77x |
| Debt-to-EBITDA | 0.95x | 1.99x | 295.06x | 1.05x | 3.43x | 0.85x | 1.81x | 4.49x |
| Equity-to-Assets | 56.2% | 59.4% | 38.7% | 54.7% | 47.8% | 66.6% | 59.1% | 54.4% |
| Net Debt | 3,691 | 1,190 | 7,544 | 7,788 | 7,174 | 4,991 | 16,544 | 18,053 |
| Cash & Equivalents | 518 | 2,844 | 461 | 1,510 | 5,809 | 5,260 | 163 | 4,900 |
| Total Debt | 4,209 | 4,034 | 8,005 | 9,299 | 12,983 | 10,251 | 16,707 | 22,953 |
| Liquidity & working capital | ||||||||
| Current Ratio | 2.31x | 2.38x | 1.53x | 2.11x | 1.84x | 2.93x | 2.39x | 2.16x |
| Quick Ratio | 1.53x | 1.77x | 1.09x | 1.33x | 1.49x | 2.32x | 1.30x | 1.25x |
| Cash Ratio | 0.10x | 0.50x | 0.04x | 0.13x | 0.38x | 0.43x | 0.01x | 0.20x |
| Total Current Assets | 11,819 | 13,409 | 16,021 | 24,004 | 28,378 | 36,141 | 43,835 | 53,966 |
| Total Current Liabilities | 5,111 | 5,640 | 10,482 | 11,396 | 15,423 | 12,325 | 18,352 | 24,977 |
| Inventory | 4,005 | 3,444 | 4,565 | 8,804 | 5,463 | 7,538 | 20,025 | 22,776 |
| Trade Receivables | 7,174 | 6,984 | 10,639 | 13,134 | 16,492 | 23,333 | 23,648 | 25,829 |
| Trade Payables | 1,192 | 1,605 | 1,991 | 1,579 | 1,540 | 1,200 | 647 | 2,025 |
| Net Working Capital | 6,708 | 7,769 | 5,538 | 12,608 | 12,955 | 23,817 | 25,483 | 28,989 |
| Net Working Capital % of Revenue | 19.4% | 20.4% | 9.9% | 17.9% | 13.3% | 21.8% | 20.6% | 22.0% |
| Trade Working Capital | 9,986 | 8,823 | 13,212 | 20,359 | 20,415 | 29,672 | 43,026 | 46,581 |
| Trade Working Capital % of Revenue | 28.8% | 23.2% | 23.7% | 28.8% | 21.0% | 27.2% | 34.7% | 35.4% |
| Change in Trade Working Capital | N/A | -1,164 | 4,389 | 7,147 | 56 | 9,257 | 13,354 | 3,555 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 6.81x | 8.06x | 8.72x | 4.70x | 12.08x | 8.86x | 3.87x | 3.72x |
| Days Inventory Outstanding (DIO) | 53.6 | 45.3 | 41.8 | 77.6 | 30.2 | 41.2 | 94.4 | 98.2 |
| Receivables Turnover | 4.83x | 5.44x | 5.23x | 5.38x | 5.90x | 4.68x | 5.24x | 5.10x |
| Days Sales Outstanding (DSO) | 75.6 | 67.0 | 69.7 | 67.9 | 61.9 | 78.0 | 69.6 | 71.6 |
| Payables Turnover | 22.87x | 17.28x | 19.99x | 26.23x | 42.85x | 55.69x | 119.70x | 41.82x |
| Days Payable Outstanding (DPO) | 16.0 | 21.1 | 18.3 | 13.9 | 8.5 | 6.6 | 3.0 | 8.7 |
| Cash Conversion Cycle | 113.2 days | 91.2 days | 93.3 days | 131.6 days | 83.6 days | 112.7 days | 161.0 days | 161.1 days |
| Asset Turnover | 2.81x | 2.74x | 3.08x | 2.77x | 3.27x | 2.95x | 2.76x | 2.40x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | -735 | 2,714 | -4,828 | 1,723 | 4,144 | 2,301 | -5,794 | -1,006 |
| Free Cash Flow (OCF − Capex proxy) | -735 | 2,554 | -5,672 | 1,574 | 3,581 | 2,182 | -6,269 | -1,111 |
| Cash Conversion (OCF / EBITDA) | -16.6% | 133.6% | -17797.8% | 19.5% | 109.5% | 19.0% | -62.8% | -19.7% |
| Dividends Declared | 0 | 0 | 158 | 0 | 2,368 | 0 | 5,202 | 253 |
| Dividend Payout Ratio | 0.0% | 0.0% | N/A | 0.0% | 90.9% | 0.0% | 74.2% | 7.1% |
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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