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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 640 · FY2023 2,161 · FY2024 2,131 — 3-yr total 4,932
Georgian publishing and printing company.
Group parent — controls 3 companies · ownership
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 44.0% | 40.4% | 42.4% | 39.9% | 37.3% | 32.8% | 29.8% | 26.4% |
| EBITDA Margin | 29.9% | 21.4% | 18.7% | 11.0% | 13.0% | 13.6% | 13.9% | 9.5% |
| EBITDAR | 4,147 | 4,700 | 4,931 | 4,310 | 5,621 | 6,779 | 7,134 | 4,348 |
| EBITDAR Margin | 31.8% | 22.4% | 21.1% | 15.1% | 14.1% | 14.8% | 14.8% | 9.8% |
| EBIT Margin | 19.2% | 14.4% | 12.5% | 3.7% | 9.0% | 12.2% | 13.0% | 8.9% |
| Net Profit Margin | -5.0% | 12.6% | 8.2% | -8.6% | 10.2% | 11.7% | 10.6% | 5.5% |
| Operating Expense % of Sales | 14.2% | 19.0% | 23.7% | 28.9% | 24.3% | 19.2% | 15.9% | 16.9% |
| Returns | ||||||||
| Return on Assets (ROA) | -4.3% | 17.1% | 7.9% | -8.5% | 12.3% | 14.6% | 15.1% | 7.0% |
| Return on Equity (ROE) | -14.3% | 58.3% | 53.4% | -445.3% | 79.7% | 54.6% | 39.9% | 18.7% |
| ROIC [EBIT / Invested Capital] | 18.8% | 22.8% | 15.7% | 6.1% | 13.6% | 18.1% | 22.0% | 13.5% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 63.6% | 59.1% | 63.0% | 60.4% | 65.7% | 58.2% | 47.2% | 47.5% |
| Debt-to-Equity | 2.13x | 2.01x | 4.24x | 31.52x | 4.27x | 2.17x | 1.25x | 1.26x |
| Debt-to-EBITDA | 2.50x | 2.03x | 3.51x | 5.50x | 4.21x | 3.43x | 2.39x | 3.93x |
| Equity-to-Assets | 29.9% | 29.3% | 14.8% | 1.9% | 15.4% | 26.8% | 37.8% | 37.6% |
| Net Debt | 8,751 | 8,693 | 14,929 | 16,626 | 21,429 | 20,989 | 15,510 | 16,000 |
| Cash & Equivalents | 975 | 440 | 387 | 650 | 420 | 434 | 488 | 561 |
| Total Debt | 9,726 | 9,134 | 15,317 | 17,276 | 21,849 | 21,424 | 15,998 | 16,562 |
| Liquidity & working capital | ||||||||
| Current Ratio | 5.82x | 4.04x | 2.11x | 1.14x | 0.93x | 0.93x | 1.26x | 1.27x |
| Quick Ratio | 4.09x | 2.41x | 1.16x | 0.66x | 0.53x | 0.59x | 0.77x | 0.84x |
| Cash Ratio | 0.98x | 0.25x | 0.07x | 0.06x | 0.03x | 0.03x | 0.04x | 0.05x |
| Total Current Assets | 5,801 | 7,242 | 11,379 | 11,641 | 11,430 | 13,128 | 14,203 | 14,511 |
| Total Current Liabilities | 996 | 1,791 | 5,400 | 10,240 | 12,235 | 14,172 | 11,291 | 11,438 |
| Inventory | 1,723 | 2,929 | 5,101 | 4,903 | 4,948 | 4,818 | 5,553 | 4,920 |
| Trade Receivables | 2,748 | 3,342 | 5,057 | 5,512 | 5,391 | 7,059 | 7,248 | 8,055 |
| Trade Payables | 839 | 1,350 | 4,526 | 5,054 | 6,270 | 5,511 | 5,087 | 5,213 |
| Net Working Capital | 4,805 | 5,451 | 5,978 | 1,401 | -805 | -1,044 | 2,913 | 3,073 |
| Net Working Capital % of Revenue | 36.8% | 26.0% | 25.6% | 4.9% | -2.0% | -2.3% | 6.1% | 7.0% |
| Trade Working Capital | 3,631 | 4,922 | 5,632 | 5,361 | 4,068 | 6,366 | 7,714 | 7,762 |
| Trade Working Capital % of Revenue | 27.8% | 23.5% | 24.1% | 18.8% | 10.2% | 13.9% | 16.0% | 17.6% |
| Change in Trade Working Capital | N/A | 1,291 | 711 | -271 | -1,293 | 2,298 | 1,348 | 48 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 4.24x | 4.26x | 2.64x | 3.49x | 5.05x | 6.40x | 6.08x | 6.61x |
| Days Inventory Outstanding (DIO) | 86.1 | 85.7 | 138.1 | 104.7 | 72.3 | 57.1 | 60.0 | 55.2 |
| Receivables Turnover | 4.75x | 6.27x | 4.63x | 5.16x | 7.39x | 6.49x | 6.64x | 5.49x |
| Days Sales Outstanding (DSO) | 76.8 | 58.2 | 78.9 | 70.7 | 49.4 | 56.2 | 55.0 | 66.5 |
| Payables Turnover | 8.70x | 9.25x | 2.98x | 3.38x | 3.98x | 5.59x | 6.64x | 6.24x |
| Days Payable Outstanding (DPO) | 42.0 | 39.5 | 122.5 | 107.9 | 91.6 | 65.3 | 55.0 | 58.5 |
| Cash Conversion Cycle | 121.0 days | 104.4 days | 94.5 days | 67.5 days | 30.1 days | 48.0 days | 60.0 days | 63.3 days |
| Asset Turnover | 0.85x | 1.36x | 0.96x | 0.99x | 1.20x | 1.25x | 1.42x | 1.27x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 1,449 | 3,567 | 3,395 | 5,583 | 6,323 | 3,222 | 3,353 | 4,810 |
| Free Cash Flow (OCF − Capex proxy) | 1,449 | 2,816 | -2,479 | 3,379 | -4,626 | 232 | 1,077 | -651 |
| Cash Conversion (OCF / EBITDA) | 37.2% | 79.5% | 77.7% | 177.8% | 122.0% | 51.6% | 50.0% | 114.1% |
| Dividends Declared | 0 | 2,676 | 2,853 | 622 | 522 | 640 | 2,161 | 2,131 |
| Dividend Payout Ratio | N/A | 101.2% | 148.0% | N/A | 12.8% | 11.9% | 42.3% | 87.0% |
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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