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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Operates in Real Estate — Rental & Investment Property. Per the activity note to the FY2024 annual report, the company leases commercial spaces it owns to legal entities and sole proprietors.
| Ratio | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| EBITDA Margin | 1.2% | -0.6% | 7.3% | 2.9% | 0.9% | 2.3% |
| EBITDAR | 16 | -7 | 100 | 45 | 14 | 38 |
| EBITDAR Margin | 1.2% | -0.6% | 7.3% | 2.9% | 0.9% | 2.3% |
| EBIT Margin | -0.6% | -18.3% | -6.8% | -9.8% | -12.0% | -9.8% |
| Net Profit Margin | -1.2% | -19.1% | -7.2% | -10.0% | -12.1% | -9.8% |
| Operating Expense % of Sales | 98.8% | 100.6% | 92.7% | 97.1% | 99.1% | 97.7% |
| Returns | ||||||
| Return on Assets (ROA) | -0.4% | -5.8% | -2.8% | -4.7% | -5.9% | -5.4% |
| Return on Equity (ROE) | -0.4% | -5.9% | -2.8% | -4.7% | -5.9% | -5.5% |
| ROIC [EBIT / Invested Capital] | -0.2% | -5.6% | -2.7% | -4.7% | -6.1% | -5.8% |
| Leverage & debt balances | ||||||
| Debt-to-Assets | 1.7% | 1.4% | 1.0% | 0.5% | 0.0% | 0.0% |
| Debt-to-Equity | 0.02x | 0.01x | 0.01x | 0.00x | 0.00x | 0.00x |
| Debt-to-EBITDA | 4.06x | N/A | 0.34x | 0.35x | 0.00x | 0.00x |
| Equity-to-Assets | 98.1% | 97.9% | 98.5% | 99.1% | 99.6% | 99.6% |
| Net Debt | -153 | -9 | -60 | -74 | -127 | -185 |
| Cash & Equivalents | 218 | 60 | 95 | 90 | 127 | 185 |
| Total Debt | 65 | 51 | 34 | 16 | N/A | N/A |
| Liquidity & working capital | ||||||
| Current Ratio | 17.00x | 8.28x | 11.71x | 14.15x | 28.71x | 30.70x |
| Quick Ratio | 16.99x | 8.28x | 11.71x | 14.15x | 28.71x | 30.70x |
| Cash Ratio | 9.73x | 1.37x | 2.66x | 2.98x | 9.24x | 13.79x |
| Total Current Assets | 382 | 361 | 418 | 427 | 396 | 411 |
| Total Current Liabilities | 22 | 44 | 36 | 30 | 14 | 13 |
| Inventory | 0 | N/A | N/A | N/A | N/A | N/A |
| Trade Receivables | 12 | 186 | 196 | 128 | 67 | 41 |
| Trade Payables | 8 | 7 | 17 | 14 | 13 | 13 |
| Net Working Capital | 359 | 318 | 383 | 397 | 382 | 398 |
| Net Working Capital % of Revenue | 26.5% | 28.9% | 27.8% | 25.4% | 25.0% | 24.1% |
| Trade Working Capital | 4 | 179 | 179 | 114 | 54 | 28 |
| Trade Working Capital % of Revenue | 0.3% | 16.2% | 13.0% | 7.3% | 3.5% | 1.7% |
| Change in Trade Working Capital | N/A | 175 | 0 | -65 | -61 | -26 |
| Turnover & efficiency | ||||||
| Inventory Turnover | N/A | N/A | N/A | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | N/A | N/A | N/A | N/A | N/A |
| Receivables Turnover | 117.69x | 5.92x | 7.02x | 12.16x | 22.68x | 40.33x |
| Days Sales Outstanding (DSO) | 3.1 | 61.6 | 52.0 | 30.0 | 16.1 | 9.1 |
| Payables Turnover | N/A | N/A | N/A | N/A | N/A | N/A |
| Days Payable Outstanding (DPO) | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash Conversion Cycle | 3.1 days | 61.6 days | 52.0 days | 30.0 days | 16.1 days | 9.1 days |
| Asset Turnover | 0.35x | 0.30x | 0.39x | 0.47x | 0.48x | 0.55x |
| Cash flow & dividends | ||||||
| Operating Cash Flow | -5 | -140 | 64 | 29 | 81 | 79 |
| Free Cash Flow (OCF − Capex proxy) | -5 | -142 | 51 | 13 | 54 | 57 |
| Cash Conversion (OCF / EBITDA) | -31.9% | N/A | 63.6% | 64.7% | 573.3% | 210.8% |
| Dividends Declared | 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 |
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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