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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 0 · FY2023 0 · FY2024 0
Georgian branch of CRBC, a major Chinese state-owned infrastructure contractor, executing road and bridge projects including sections of the East-West Highway.
| Ratio | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross Margin | -16.3% | 0.1% | -7.0% | -6.9% | -17.3% | -84.1% |
| EBITDA Margin | -43.9% | -5.6% | -10.1% | -9.5% | -20.2% | -88.9% |
| EBITDAR | -13,188 | -8,995 | -22,610 | -32,825 | -63,209 | -108,348 |
| EBITDAR Margin | -43.9% | -5.6% | -10.1% | -9.5% | -20.2% | -88.9% |
| EBIT Margin | -45.0% | -5.8% | -10.4% | -9.7% | -20.4% | -89.2% |
| Net Profit Margin | 9.4% | 11.8% | 5.3% | -0.5% | -22.1% | -112.7% |
| Operating Expense % of Sales | 27.6% | 5.7% | 3.1% | 2.6% | 2.9% | 4.8% |
| Returns | ||||||
| Return on Assets (ROA) | 1.0% | 6.4% | 4.1% | -0.6% | -28.7% | -78.6% |
| Return on Equity (ROE) | 88.8% | 85.6% | 34.8% | -5.6% | N/A | N/A |
| ROIC [EBIT / Invested Capital] | N/A | N/A | N/A | -26.0% | -66.6% | -497.4% |
| Leverage & debt balances | ||||||
| Debt-to-Assets | 0.0% | 0.0% | 0.0% | 46.5% | 58.0% | 128.8% |
| Debt-to-Equity | 0.00x | 0.00x | 0.00x | 4.14x | -4.14x | -1.32x |
| Debt-to-EBITDA | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity-to-Assets | 1.1% | 7.4% | 11.8% | 11.2% | -14.0% | -97.9% |
| Net Debt | -100,027 | -73,990 | -71,432 | 94,472 | 129,656 | 192,936 |
| Cash & Equivalents | 100,027 | 73,990 | 71,432 | 46,032 | 10,192 | 32,243 |
| Total Debt | N/A | N/A | N/A | 140,504 | 139,848 | 225,179 |
| Liquidity & working capital | ||||||
| Current Ratio | 0.73x | 0.77x | 0.84x | 1.74x | 1.28x | 1.05x |
| Quick Ratio | 0.66x | 0.69x | 0.76x | 1.55x | 1.13x | 0.96x |
| Cash Ratio | 0.34x | 0.27x | 0.28x | 0.36x | 0.08x | 0.27x |
| Total Current Assets | 212,029 | 211,788 | 212,726 | 223,027 | 173,236 | 126,413 |
| Total Current Liabilities | 292,041 | 273,918 | 253,381 | 128,033 | 134,869 | 120,718 |
| Inventory | 20,474 | 22,334 | 20,090 | 24,873 | 21,322 | 10,341 |
| Trade Receivables | 18,908 | 57,335 | 75,904 | 141,354 | 129,098 | 73,558 |
| Trade Payables | 53,687 | 32,932 | 56,903 | 122,373 | 127,038 | 117,934 |
| Net Working Capital | -80,012 | -62,130 | -40,656 | 94,994 | 38,367 | 5,695 |
| Net Working Capital % of Revenue | -266.4% | -38.9% | -18.2% | 27.5% | 12.3% | 4.7% |
| Trade Working Capital | -14,305 | 46,737 | 39,090 | 43,853 | 23,381 | -34,036 |
| Trade Working Capital % of Revenue | -47.6% | 29.3% | 17.5% | 12.7% | 7.5% | -27.9% |
| Change in Trade Working Capital | N/A | 61,042 | -7,646 | 4,763 | -20,472 | -57,417 |
| Turnover & efficiency | ||||||
| Inventory Turnover | 1.71x | 7.15x | 11.89x | 14.86x | 17.20x | 21.69x |
| Days Inventory Outstanding (DIO) | 214.0 | 51.1 | 30.7 | 24.6 | 21.2 | 16.8 |
| Receivables Turnover | 1.59x | 2.79x | 2.94x | 2.45x | 2.42x | 1.66x |
| Days Sales Outstanding (DSO) | 229.8 | 131.0 | 124.1 | 149.2 | 150.7 | 220.4 |
| Payables Turnover | 0.65x | 4.85x | 4.20x | 3.02x | 2.89x | 1.90x |
| Days Payable Outstanding (DPO) | 561.1 | 75.3 | 87.0 | 120.9 | 126.4 | 191.9 |
| Cash Conversion Cycle | -117.4 days | 106.8 days | 67.9 days | 52.9 days | 45.5 days | 45.3 days |
| Asset Turnover | 0.10x | 0.54x | 0.78x | 1.14x | 1.30x | 0.70x |
| Cash flow & dividends | ||||||
| Operating Cash Flow | -63,133 | -17,494 | 5,056 | -146,675 | -17,684 | -56,490 |
| Free Cash Flow (OCF − Capex proxy) | -150,450 | -31,969 | -741 | -166,113 | -32,991 | -53,048 |
| Cash Conversion (OCF / EBITDA) | N/A | N/A | N/A | N/A | N/A | N/A |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | 0.0% | 0.0% | 0.0% | 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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