Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	30.6%	28.2%	26.3%	34.6%	31.0%	39.3%	39.4%
EBITDA Margin	16.0%	15.1%	12.7%	22.2%	15.8%	25.0%	22.5%
EBITDAR	385	439	385	894	738	1,192	1,123
EBITDAR Margin	19.0%	17.5%	13.7%	24.0%	18.4%	27.0%	24.3%
EBIT Margin	15.4%	14.6%	12.3%	21.8%	15.2%	24.4%	21.8%
Net Profit Margin	11.4%	10.0%	6.5%	22.8%	16.7%	23.8%	20.5%
Operating Expense % of Sales	14.5%	13.1%	13.7%	12.4%	15.2%	14.2%	16.9%
Returns
Return on Assets (ROA)	21.9%	22.7%	13.9%	50.6%	37.9%	51.2%	36.6%
Return on Equity (ROE)	100.8%	99.1%	70.8%	100.9%	53.9%	54.0%	38.8%
ROIC [EBIT / Invested Capital]	48.3%	49.5%	39.5%	60.6%	42.1%	67.2%	47.5%
Leverage & liquidity
Debt-to-Assets	49.1%	50.7%	57.8%	31.4%	14.5%	0.0%	3.9%
Debt-to-Equity	2.26x	2.22x	2.95x	0.63x	0.21x	0.00x	0.04x
Debt-to-EBITDA	1.59x	1.48x	2.15x	0.64x	0.40x	0.00x	0.10x
Equity-to-Assets	21.8%	22.9%	19.6%	50.1%	70.2%	94.7%	94.3%
Net Debt	418	489	612	501	211	-339	-324
Cash & Equivalents	99	74	151	26	45	339	424
Total Debt	517	563	763	527	256	N/A	100
Efficiency & working capital
Inventory Turnover	N/A	4.85x	4.48x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	75.3	81.6	N/A	N/A	N/A	N/A
Receivables Turnover	7.54x	8.66x	8.10x	8.24x	6.91x	8.10x	6.32x
Days Sales Outstanding (DSO)	48.4	42.1	45.1	44.3	52.8	45.1	57.7
Payables Turnover	4.76x	6.42x	7.76x	9.06x	12.33x	35.94x	66.32x
Days Payable Outstanding (DPO)	76.7	56.8	47.1	40.3	29.6	10.2	5.5
Cash Conversion Cycle	-28.3 days	60.6 days	79.6 days	4.0 days	23.2 days	34.9 days	52.2 days
Asset Turnover	1.93x	2.26x	2.12x	2.22x	2.27x	2.15x	1.78x
Cash flow & dividends
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow (OCF − Capex proxy)	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash Conversion (OCF / EBITDA)	N/A	N/A	N/A	N/A	N/A	N/A	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 ₾ '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