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Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	14.3%	12.1%	13.0%	17.7%	17.8%	11.8%	10.2%
EBITDA Margin	4.6%	0.7%	-2.4%	5.3%	5.3%	0.1%	-1.4%
EBITDAR	207	28	-84	278	378	8	-122
EBITDAR Margin	4.6%	0.7%	-2.4%	5.3%	5.3%	0.1%	-1.4%
EBIT Margin	4.2%	0.3%	-2.8%	5.0%	5.1%	-0.0%	-1.7%
Net Profit Margin	4.6%	-4.6%	-16.2%	7.7%	10.1%	1.0%	-4.2%
Operating Expense % of Sales	9.6%	11.4%	15.4%	12.4%	12.5%	11.7%	11.7%
Returns
Return on Assets (ROA)	7.3%	-6.4%	-22.9%	15.1%	16.1%	1.5%	-6.7%
Return on Equity (ROE)	N/A	N/A	N/A	N/A	N/A	252.5%	N/A
ROIC [EBIT / Invested Capital]	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Leverage & debt balances
Debt-to-Assets	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Debt-to-Equity	-0.00x	-0.00x	-0.00x	-0.00x	-0.00x	0.00x	-0.00x
Debt-to-EBITDA	0.00x	0.00x	N/A	0.00x	0.00x	0.00x	N/A
Equity-to-Assets	-14.8%	-20.3%	-47.0%	-28.6%	-1.0%	0.6%	-6.2%
Net Debt	-82	-6	-31	-10	-235	-50	-151
Cash & Equivalents	82	6	31	10	235	50	151
Total Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Liquidity & working capital
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Quick Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Current Assets	2,717	2,876	2,399	2,590	4,436	5,076	5,154
Total Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Inventory	N/A	1,087	706	N/A	N/A	N/A	N/A
Trade Receivables	1,800	1,696	1,649	1,467	2,040	2,562	2,583
Trade Payables	3,184	3,595	3,699	3,477	4,553	5,133	5,622
Net Working Capital	2,717	2,876	2,399	2,590	4,436	5,076	5,154
Net Working Capital % of Revenue	60.8%	69.2%	67.4%	49.0%	61.7%	63.1%	60.9%
Trade Working Capital	-1,384	-813	-1,344	-2,010	-2,514	-2,571	-3,040
Trade Working Capital % of Revenue	-31.0%	-19.5%	-37.8%	-38.0%	-35.0%	-32.0%	-35.9%
Change in Trade Working Capital	N/A	571	-532	-665	-504	-58	-468
Turnover & efficiency
Inventory Turnover	N/A	3.36x	4.38x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	108.5	83.3	N/A	N/A	N/A	N/A
Receivables Turnover	2.48x	2.45x	2.16x	3.60x	3.53x	3.14x	3.28x
Days Sales Outstanding (DSO)	147.0	148.9	169.0	101.3	103.5	116.3	111.3
Payables Turnover	1.20x	1.02x	0.84x	1.25x	1.30x	1.38x	1.35x
Days Payable Outstanding (DPO)	303.3	359.1	436.0	291.6	281.1	264.3	269.9
Cash Conversion Cycle	-156.3 days	-101.7 days	-183.7 days	-190.3 days	-177.6 days	-148.0 days	-158.6 days
Asset Turnover	1.60x	1.39x	1.41x	1.96x	1.60x	1.56x	1.60x
Cash flow & dividends
Operating Cash Flow	26	-59	49	-14	232	-165	182
Free Cash Flow (OCF − Capex proxy)	18	-76	25	-21	225	-185	101
Cash Conversion (OCF / EBITDA)	12.7%	-207.8%	N/A	-5.0%	61.4%	-1969.8%	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