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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2018 0 · FY2019 0 · FY2020 0
Operates in Power & Utilities — Hydropower. Per the activity note to the FY2024 annual report, the group operates hydroelectric power plants.
Subsidiary of Hidrojenius (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBITDA Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBITDAR | -2,768 | -2,320 | -3,411 | -16,282 | -16,178 | -664 | -18,858 | -8,229 |
| EBITDAR Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Profit Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Expense % of Sales | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Returns | ||||||||
| Return on Assets (ROA) | -97.4% | -19.1% | -5.1% | -7.3% | -62.4% | -23.7% | -20.3% | -12.5% |
| Return on Equity (ROE) | -241.9% | -106.0% | -23.1% | -39.2% | N/A | -464.4% | -234.6% | N/A |
| ROIC [EBIT / Invested Capital] | -435.5% | -94.2% | -2.4% | -8.0% | -11.1% | -0.5% | -10.4% | -3.0% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 0.0% | 0.0% | 67.8% | 75.1% | 108.3% | 92.2% | 85.6% | 98.7% |
| Debt-to-Equity | 0.00x | 0.00x | 3.05x | 4.05x | -6.94x | 18.07x | 9.88x | -224.55x |
| Debt-to-EBITDA | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity-to-Assets | 40.3% | 18.0% | 22.2% | 18.5% | -15.6% | 5.1% | 8.7% | -0.4% |
| Net Debt | -19,954 | -3,344 | 110,168 | 162,385 | 173,856 | 164,746 | 165,312 | 285,443 |
| Cash & Equivalents | 19,954 | 3,344 | 18,173 | 13,195 | 5,250 | 10,132 | 12,269 | 73 |
| Total Debt | N/A | N/A | 128,341 | 175,580 | 179,106 | 174,879 | 177,581 | 285,516 |
| Liquidity & working capital | ||||||||
| Current Ratio | N/A | 0.60x | 2.03x | 4.36x | 0.18x | 5.25x | 0.80x | 2.08x |
| Quick Ratio | N/A | 0.60x | 2.02x | 4.27x | 0.18x | 5.25x | 0.80x | 2.08x |
| Cash Ratio | N/A | 0.14x | 1.27x | 2.59x | 0.08x | 2.63x | 0.71x | 0.01x |
| Total Current Assets | 19,954 | 14,304 | 29,187 | 22,169 | 11,709 | 20,219 | 13,783 | 12,367 |
| Total Current Liabilities | N/A | 23,947 | 14,353 | 5,089 | 66,738 | 3,850 | 17,317 | 5,942 |
| Inventory | N/A | N/A | 215 | 462 | N/A | N/A | N/A | N/A |
| Trade Receivables | N/A | N/A | 9,610 | 7,015 | 5,817 | 9,797 | 1,226 | 1,415 |
| Trade Payables | N/A | N/A | 18,884 | 14,905 | 12,118 | 5,047 | 8,966 | 4,811 |
| Net Working Capital | 19,954 | -9,643 | 14,835 | 17,081 | -55,029 | 16,369 | -3,534 | 6,425 |
| Net Working Capital % of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Trade Working Capital | N/A | N/A | -9,059 | -7,428 | -6,301 | 4,750 | -7,740 | -3,396 |
| Trade Working Capital % of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Change in Trade Working Capital | N/A | N/A | -9,059 | 1,631 | 1,128 | 11,051 | -12,490 | 4,344 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Receivables Turnover | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Days Sales Outstanding (DSO) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Payables Turnover | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Days Payable Outstanding (DPO) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash Conversion Cycle | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Asset Turnover | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | -9,347 | 3,991 | -571 | -7,939 | 3,475 | -48,900 | -2,665 | -38,139 |
| Free Cash Flow (OCF − Capex proxy) | -9,347 | -44,530 | -37,350 | -34,515 | -46,687 | -138,144 | -47,598 | -114,535 |
| Cash Conversion (OCF / EBITDA) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Dividends Declared | 0 | 0 | 0 | 0 | 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 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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