Ratio	2017	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	43.3%	60.0%	75.7%	81.4%	54.6%	73.2%	42.5%
EBITDA Margin	16.6%	32.0%	41.3%	48.0%	35.4%	38.2%	24.2%
EBITDAR	432	893	820	1,153	1,204	941	1,469
EBITDAR Margin	18.5%	33.3%	42.9%	49.2%	36.4%	39.7%	24.9%
EBIT Margin	13.9%	29.7%	38.3%	45.8%	33.9%	35.9%	23.5%
Net Profit Margin	8.2%	32.6%	19.9%	34.5%	30.1%	19.0%	15.9%
Operating Expense % of Sales	26.7%	28.1%	34.4%	33.4%	19.2%	35.1%	18.4%
Returns
Return on Assets (ROA)	43.4%	31.2%	13.7%	32.2%	42.3%	10.6%	60.6%
Return on Equity (ROE)	49.4%	78.4%	26.3%	57.1%	66.1%	41.5%	78.0%
ROIC [EBIT / Invested Capital]	96.5%	34.6%	30.4%	51.9%	67.6%	22.6%	125.3%
Leverage & debt balances
Debt-to-Assets	0.0%	49.9%	41.9%	36.5%	27.3%	68.5%	12.3%
Debt-to-Equity	0.00x	1.25x	0.80x	0.65x	0.43x	2.67x	0.16x
Debt-to-EBITDA	0.00x	1.62x	1.47x	0.81x	0.55x	3.20x	0.13x
Equity-to-Assets	87.8%	39.9%	52.4%	56.4%	64.0%	25.7%	77.7%
Net Debt	-49	1,185	951	656	151	2,670	-92
Cash & Equivalents	49	208	210	260	492	224	282
Total Debt	N/A	1,393	1,161	916	643	2,894	190
Liquidity & working capital
Current Ratio	10.65x	1.50x	1.90x	23.62x	18.68x	17.28x	9.45x
Quick Ratio	10.65x	1.44x	0.94x	11.94x	18.68x	17.28x	9.45x
Cash Ratio	2.40x	0.12x	0.16x	2.67x	4.19x	0.97x	1.98x
Total Current Assets	218	2,521	2,512	2,297	2,196	3,993	1,349
Total Current Liabilities	20	1,680	1,319	97	118	231	143
Inventory	N/A	105	1,273	1,136	N/A	N/A	N/A
Trade Receivables	169	905	774	505	517	524	604
Trade Payables	20	262	119	97	118	104	143
Net Working Capital	197	841	1,193	2,200	2,079	3,762	1,206
Net Working Capital % of Revenue	8.5%	31.4%	62.5%	93.9%	62.8%	158.8%	20.4%
Trade Working Capital	148	748	1,928	1,543	400	419	461
Trade Working Capital % of Revenue	6.3%	27.9%	100.9%	65.9%	12.1%	17.7%	7.8%
Change in Trade Working Capital	N/A	N/A	1,181	-385	-1,143	20	42
Turnover & efficiency
Inventory Turnover	N/A	10.20x	0.36x	0.38x	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	35.8	1001.6	951.6	N/A	N/A	N/A
Receivables Turnover	13.85x	2.96x	2.47x	4.64x	6.40x	4.53x	9.78x
Days Sales Outstanding (DSO)	26.3	123.2	147.9	78.7	57.0	80.6	37.3
Payables Turnover	64.76x	4.09x	3.91x	4.48x	12.79x	6.09x	23.76x
Days Payable Outstanding (DPO)	5.6	89.3	93.4	81.5	28.5	59.9	15.4
Cash Conversion Cycle	20.7 days	69.7 days	1056.1 days	948.7 days	28.5 days	20.7 days	22.0 days
Asset Turnover	5.31x	0.96x	0.69x	0.93x	1.40x	0.56x	3.82x
Cash flow & dividends
Operating Cash Flow	N/A	554	561	977	1,310	-895	3,181
Free Cash Flow (OCF − Capex proxy)	N/A	-989	493	977	1,310	-895	3,181
Cash Conversion (OCF / EBITDA)	N/A	64.6%	71.1%	86.8%	111.9%	-98.9%	222.8%
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.

companyinfo.ge · fetched 2026-07-15

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.

Shareholders

Anzorbubuteishvili55.0%
Davit Mikadze45.0%

AnzorbubuteishviliანზორბუბუტეიშვილიPartner / Shareholder55.0%Davit Mikadzeდავით მიქაძეPartner / Shareholder45.0%

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