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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 74 · FY2023 1,013 · FY2024 0 — 3-yr total 1,087
Georgian IT / networking systems integrator.
Group parent — controls 3 companies · ownership
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | -12.5% | -14.7% | -18.2% | -16.5% | -12.8% | 17.4% | 25.2% | 20.4% |
| EBITDA Margin | -14.0% | -37.7% | -90.3% | -30.5% | -18.0% | 8.2% | 10.5% | 3.4% |
| EBITDAR | -1,461 | -2,168 | -4,443 | -1,322 | -721 | 587 | 1,015 | 353 |
| EBITDAR Margin | -14.0% | -37.7% | -90.3% | -30.5% | -18.0% | 8.2% | 10.5% | 3.4% |
| EBIT Margin | -14.3% | -37.8% | -90.4% | -30.7% | -18.2% | 7.9% | 10.3% | 3.1% |
| Net Profit Margin | -83.7% | 194.3% | -73.2% | -23.5% | 29.7% | 64.3% | 20.0% | 9.2% |
| Operating Expense % of Sales | 1.5% | 22.9% | 72.0% | 14.0% | 22.2% | 17.9% | 20.7% | 23.1% |
| Returns | ||||||||
| Return on Assets (ROA) | -26.4% | 42.8% | -14.5% | -3.4% | 4.5% | 14.2% | 7.2% | 3.5% |
| Return on Equity (ROE) | -76.5% | 77.2% | -33.0% | -6.4% | 7.0% | 20.9% | 8.4% | 3.9% |
| ROIC [EBIT / Invested Capital] | -14.0% | -15.3% | -40.6% | -8.4% | -4.3% | 2.6% | 4.6% | 1.4% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 0.9% | 0.2% | 0.3% | 0.3% | 0.3% | 1.8% | 0.4% | 0.4% |
| Debt-to-Equity | 0.03x | 0.00x | 0.01x | 0.01x | 0.01x | 0.03x | 0.00x | 0.00x |
| Debt-to-EBITDA | N/A | N/A | N/A | N/A | N/A | 1.00x | 0.10x | 0.33x |
| Equity-to-Assets | 34.5% | 55.4% | 43.9% | 53.1% | 64.2% | 68.1% | 85.8% | 88.0% |
| Net Debt | -732 | -312 | 63 | 7 | -93 | -619 | -1,294 | -1,241 |
| Cash & Equivalents | 1,022 | 368 | 3 | 79 | 183 | 1,208 | 1,393 | 1,356 |
| Total Debt | 290 | 56 | 66 | 86 | 90 | 589 | 99 | 115 |
| Liquidity & working capital | ||||||||
| Current Ratio | 0.47x | 0.28x | 0.13x | 0.03x | 0.07x | 0.27x | 0.80x | 0.86x |
| Quick Ratio | 0.47x | 0.28x | 0.12x | 0.03x | 0.06x | 0.20x | 0.59x | 0.69x |
| Cash Ratio | 0.05x | 0.03x | 0.00x | 0.01x | 0.02x | 0.12x | 0.37x | 0.41x |
| Total Current Assets | 10,189 | 3,235 | 1,745 | 448 | 620 | 2,752 | 3,050 | 2,802 |
| Total Current Liabilities | 21,697 | 11,661 | 13,948 | 13,982 | 9,510 | 10,371 | 3,813 | 3,275 |
| Inventory | 13 | 10 | 19 | 16 | 12 | 722 | 817 | 541 |
| Trade Receivables | 8,654 | 889 | 1,525 | 353 | 425 | 822 | 796 | 905 |
| Trade Payables | 21,257 | 11,398 | 13,747 | 13,646 | 9,220 | 9,646 | 3,655 | 3,026 |
| Net Working Capital | -11,508 | -8,426 | -12,203 | -13,534 | -8,890 | -7,619 | -763 | -473 |
| Net Working Capital % of Revenue | -110.2% | -146.4% | -248.0% | -312.1% | -222.1% | -105.8% | -7.9% | -4.6% |
| Trade Working Capital | -12,590 | -10,499 | -12,203 | -13,277 | -8,783 | -8,102 | -2,042 | -1,580 |
| Trade Working Capital % of Revenue | -120.5% | -182.4% | -248.0% | -306.2% | -219.5% | -112.5% | -21.1% | -15.3% |
| Change in Trade Working Capital | N/A | 2,091 | -1,704 | -1,074 | 4,494 | 681 | 6,060 | 462 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 903.84x | 660.40x | 306.26x | 315.81x | 376.17x | 8.24x | 8.84x | 15.19x |
| Days Inventory Outstanding (DIO) | 0.4 | 0.6 | 1.2 | 1.2 | 1.0 | 44.3 | 41.3 | 24.0 |
| Receivables Turnover | 1.21x | 6.48x | 3.23x | 12.28x | 9.42x | 8.76x | 12.13x | 11.41x |
| Days Sales Outstanding (DSO) | 302.4 | 56.4 | 113.1 | 29.7 | 38.8 | 41.7 | 30.1 | 32.0 |
| Payables Turnover | 0.55x | 0.58x | 0.42x | 0.37x | 0.49x | 0.62x | 1.98x | 2.72x |
| Days Payable Outstanding (DPO) | 660.3 | 630.0 | 862.3 | 985.7 | 745.5 | 591.6 | 184.7 | 134.4 |
| Cash Conversion Cycle | -357.5 days | -573.0 days | -748.0 days | -954.8 days | -705.8 days | -505.7 days | -113.4 days | -78.3 days |
| Asset Turnover | 0.32x | 0.22x | 0.20x | 0.15x | 0.15x | 0.22x | 0.36x | 0.38x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | -1,209 | -1,262 | -1,674 | 870 | 117 | 1,979 | 3,093 | 1,486 |
| Free Cash Flow (OCF − Capex proxy) | -1,209 | -618 | -407 | 74 | 111 | 771 | 1,509 | 3 |
| Cash Conversion (OCF / EBITDA) | N/A | N/A | N/A | N/A | N/A | 337.1% | 304.7% | 421.0% |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 74 | 1,013 | 0 |
| Dividend Payout Ratio | N/A | 0.0% | N/A | N/A | 0.0% | 1.6% | 52.4% | 0.0% |
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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