Ratio	2017	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	60.9%	66.4%	69.9%	16.1%	17.7%	21.9%	17.7%	16.4%
EBITDA Margin	23.7%	21.6%	9.3%	12.7%	-231.3%	18.4%	9.6%	13.9%
EBITDAR	1,419	1,105	1,281	3,038	-574	3,206	458	2,251
EBITDAR Margin	26.9%	23.8%	12.0%	12.9%	-198.8%	19.3%	9.9%	14.1%
EBIT Margin	21.8%	19.3%	7.8%	11.9%	-293.2%	17.4%	9.1%	13.8%
Net Profit Margin	23.8%	12.4%	6.4%	10.2%	-361.8%	15.0%	-9.8%	10.1%
Operating Expense % of Sales	37.2%	44.7%	60.6%	3.4%	248.9%	3.6%	8.1%	2.5%
Returns
Return on Assets (ROA)	39.5%	11.2%	4.3%	83.7%	-10.4%	72.5%	-4.3%	7.3%
Return on Equity (ROE)	96.5%	39.4%	583.0%	108.7%	-147.4%	77.8%	-20.2%	236.6%
ROIC [EBIT / Invested Capital]	58.6%	22.4%	16.6%	175.5%	-20.4%	98.9%	8.9%	388.5%
Leverage & liquidity
Debt-to-Assets	21.0%	49.1%	30.8%	7.6%	63.7%	3.0%	24.1%	0.0%
Debt-to-Equity	0.51x	1.72x	42.27x	0.10x	9.00x	0.03x	1.12x	0.00x
Debt-to-EBITDA	0.54x	2.51x	4.97x	0.07x	N/A	0.03x	5.66x	0.00x
Equity-to-Assets	40.9%	28.5%	0.7%	77.0%	7.1%	93.1%	21.5%	3.1%
Net Debt	664	2,514	4,926	-610	3,439	-270	2,492	-114
Cash & Equivalents	6	8	14	828	2,934	371	31	114
Total Debt	670	2,522	4,939	218	6,373	101	2,523	N/A
Efficiency & working capital
Inventory Turnover	N/A	N/A	0.29x	95.72x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	N/A	1280.6	3.8	N/A	N/A	N/A	N/A
Receivables Turnover	4.31x	2.67x	49.18x	130.14x	1.94x	9.96x	0.89x	2.76x
Days Sales Outstanding (DSO)	84.6	136.9	7.4	2.8	188.0	36.6	409.8	132.5
Payables Turnover	2.47x	1.50x	1.08x	109.89x	0.08x	1034.56x	0.67x	0.62x
Days Payable Outstanding (DPO)	147.7	242.6	336.7	3.3	4489.1	0.4	545.8	586.3
Cash Conversion Cycle	-63.0 days	-105.7 days	951.3 days	3.3 days	-4301.2 days	36.3 days	-136.0 days	-453.8 days
Asset Turnover	1.66x	0.90x	0.67x	8.23x	0.03x	4.84x	0.44x	0.72x
Cash flow & dividends
Operating Cash Flow	7,662	2	6	815	2,106	-2,551	1,595	30,756
Free Cash Flow (OCF − Capex proxy)	7,662	2	6	815	2,106	-2,551	1,595	30,756
Cash Conversion (OCF / EBITDA)	611.9%	0.2%	0.6%	27.1%	N/A	-83.8%	357.9%	1389.2%
Dividends Declared	N/A	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	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