Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	44.4%	45.0%	46.6%	42.0%	43.0%	51.8%	56.3%
EBITDA Margin	26.1%	31.5%	24.3%	18.2%	18.9%	30.1%	29.2%
EBITDAR	1,122	1,631	1,536	1,518	1,924	3,363	3,459
EBITDAR Margin	35.8%	40.1%	32.8%	26.9%	27.5%	36.4%	35.9%
EBIT Margin	25.2%	31.0%	23.8%	17.7%	18.4%	29.5%	28.2%
Net Profit Margin	23.1%	29.9%	23.8%	22.2%	21.3%	31.5%	27.8%
Operating Expense % of Sales	18.2%	13.5%	22.3%	23.8%	24.1%	21.7%	27.1%
Returns
Return on Assets (ROA)	18.6%	24.7%	16.4%	15.3%	14.0%	25.1%	23.1%
Return on Equity (ROE)	25.8%	37.6%	29.3%	24.9%	30.0%	39.1%	28.2%
ROIC [EBIT / Invested Capital]	28.0%	34.3%	23.4%	21.3%	18.1%	35.1%	31.0%
Leverage & liquidity
Debt-to-Assets	13.3%	12.8%	21.3%	5.7%	26.9%	6.0%	0.1%
Debt-to-Equity	0.19x	0.20x	0.38x	0.09x	0.58x	0.09x	0.00x
Debt-to-EBITDA	0.63x	0.49x	1.27x	0.45x	2.16x	0.25x	0.01x
Equity-to-Assets	71.9%	65.8%	55.7%	61.3%	46.7%	64.2%	81.8%
Net Debt	12	440	954	-361	2,140	333	-746
Cash & Equivalents	508	191	495	826	715	365	761
Total Debt	520	631	1,449	465	2,855	697	15
Efficiency & working capital
Inventory Turnover	N/A	0.51x	0.42x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	713.4	863.5	N/A	N/A	N/A	N/A
Receivables Turnover	896.11x	58.17x	36.45x	529.84x	N/A	744.49x	1737.99x
Days Sales Outstanding (DSO)	0.4	6.3	10.0	0.7	N/A	0.5	0.2
Payables Turnover	5.15x	3.46x	3.73x	4.54x	N/A	7.13x	10.31x
Days Payable Outstanding (DPO)	70.8	105.5	97.8	80.4	N/A	51.2	35.4
Cash Conversion Cycle	-70.4 days	614.1 days	775.7 days	-79.7 days	N/A	-50.7 days	-35.2 days
Asset Turnover	0.80x	0.83x	0.69x	0.69x	0.66x	0.80x	0.83x
Cash flow & dividends
Operating Cash Flow	N/A	-325	304	1,909	431	-319	527
Free Cash Flow (OCF − Capex proxy)	N/A	-325	304	1,909	431	-319	527
Cash Conversion (OCF / EBITDA)	N/A	-25.4%	26.7%	186.1%	32.5%	-11.4%	18.8%
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 ₾ '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