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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross Margin | 7.3% | 16.8% | 11.2% | 11.8% | 13.6% | 13.7% | 10.2% |
| EBITDA Margin | 4.7% | 14.0% | -5.9% | 4.1% | 7.8% | 6.7% | -5.1% |
| EBITDAR | 455 | 795 | -284 | 241 | 551 | 527 | -81 |
| EBITDAR Margin | 4.7% | 14.0% | -5.9% | 4.1% | 7.8% | 6.7% | -2.3% |
| EBIT Margin | 4.3% | 13.6% | -6.8% | 3.4% | 7.6% | 6.2% | -6.5% |
| Net Profit Margin | -0.4% | -6.1% | -5.9% | 2.7% | 7.0% | 5.6% | -5.3% |
| Operating Expense % of Sales | 2.6% | 2.8% | 17.1% | 7.7% | 5.8% | 7.1% | 15.2% |
| Returns | |||||||
| Return on Assets (ROA) | -1.2% | -49.9% | -36.1% | 16.5% | 29.0% | 29.6% | -15.5% |
| Return on Equity (ROE) | -138.7% | N/A | N/A | N/A | 985.8% | 89.9% | -63.1% |
| ROIC [EBIT / Invested Capital] | 24.0% | 233.5% | N/A | N/A | 267.5% | 101.2% | -83.8% |
| Leverage & debt balances | |||||||
| Debt-to-Assets | 61.7% | 111.5% | 45.5% | 21.8% | 9.0% | 0.0% | 0.0% |
| Debt-to-Equity | 71.88x | -2.41x | -0.59x | -0.48x | 3.06x | 0.00x | 0.00x |
| Debt-to-EBITDA | 3.92x | 0.97x | N/A | 0.88x | 0.28x | 0.00x | N/A |
| Equity-to-Assets | 0.9% | -46.2% | -76.6% | -45.3% | 2.9% | 33.0% | 24.6% |
| Net Debt | 1,747 | 647 | 197 | 208 | 151 | -11 | -22 |
| Cash & Equivalents | 38 | 120 | 160 | 5 | 2 | 11 | 22 |
| Total Debt | 1,785 | 768 | 357 | 213 | 152 | N/A | N/A |
| Liquidity & working capital | |||||||
| Current Ratio | 0.99x | 0.61x | 0.51x | 0.67x | 1.03x | 1.33x | 1.20x |
| Quick Ratio | 0.99x | 0.27x | 0.34x | 0.67x | 1.03x | 1.33x | 1.20x |
| Cash Ratio | 0.01x | 0.12x | 0.12x | 0.00x | 0.00x | 0.01x | 0.02x |
| Total Current Assets | 2,834 | 618 | 711 | 956 | 1,687 | 1,326 | 1,107 |
| Total Current Liabilities | 2,871 | 1,006 | 1,388 | 1,416 | 1,644 | 998 | 923 |
| Inventory | N/A | 351 | 240 | N/A | N/A | N/A | N/A |
| Trade Receivables | 1,125 | 116 | 66 | 554 | 564 | 602 | 517 |
| Trade Payables | 480 | 108 | 190 | 314 | 466 | 624 | 346 |
| Net Working Capital | -37 | -388 | -676 | -461 | 43 | 328 | 184 |
| Net Working Capital % of Revenue | -0.4% | -6.9% | -14.0% | -7.7% | 0.6% | 4.2% | 5.1% |
| Trade Working Capital | 644 | 359 | 116 | 240 | 98 | -22 | 172 |
| Trade Working Capital % of Revenue | 6.6% | 6.3% | 2.4% | 4.0% | 1.4% | -0.3% | 4.8% |
| Change in Trade Working Capital | N/A | -285 | -243 | 124 | -142 | -120 | 194 |
| Turnover & efficiency | |||||||
| Inventory Turnover | N/A | 13.40x | 17.83x | N/A | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | 27.2 | 20.5 | N/A | N/A | N/A | N/A |
| Receivables Turnover | 8.68x | 48.76x | 73.03x | 10.75x | 12.46x | 13.11x | 6.95x |
| Days Sales Outstanding (DSO) | 42.0 | 7.5 | 5.0 | 34.0 | 29.3 | 27.8 | 52.6 |
| Payables Turnover | 18.85x | 43.63x | 22.56x | 16.75x | 13.04x | 10.91x | 9.33x |
| Days Payable Outstanding (DPO) | 19.4 | 8.4 | 16.2 | 21.8 | 28.0 | 33.5 | 39.1 |
| Cash Conversion Cycle | 22.7 days | 26.4 days | 9.3 days | 12.2 days | 1.3 days | -5.6 days | 13.4 days |
| Asset Turnover | 3.37x | 8.22x | 6.13x | 6.11x | 4.15x | 5.30x | 2.94x |
| Cash flow & dividends | |||||||
| Operating Cash Flow | -857 | 1,261 | 703 | -127 | 9 | 505 | 225 |
| Free Cash Flow (OCF − Capex proxy) | -945 | 1,100 | 572 | -149 | -32 | 182 | 42 |
| Cash Conversion (OCF / EBITDA) | -188.2% | 158.7% | N/A | -52.4% | 1.6% | 95.8% | 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 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.
Subsidiary of UGT Group (75.0%)
Ownership & directors from companyinfo.ge (public corporate registry).