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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 5,024 · FY2024 7,803 — 3-yr total 12,827
Aversi-Pharma is Georgia's leading pharmacy chain, founded 1994 as a family-run pharmaceutical distributor. Operates 332 stores and the largest pharmaceutical factory in Georgia, employs 10,000+ people, and since 2007 runs Aversi Clinic — a multi-profile medical-diagnostic chain across the Caucasus.
Group parent — controls 4 companies · ownership
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 36.2% | 37.2% | 38.3% | 99.9% | 99.9% | 36.2% | 37.0% | 35.9% |
| EBITDA Margin | 8.8% | 10.8% | 13.2% | 78.5% | 77.4% | 11.5% | 11.3% | 11.2% |
| EBITDAR | 40,263 | 52,739 | 60,888 | 399,278 | 535,370 | 84,956 | 93,354 | 110,609 |
| EBITDAR Margin | 11.0% | 12.9% | 13.3% | 78.6% | 77.5% | 11.5% | 11.3% | 11.3% |
| EBIT Margin | 5.3% | 7.1% | 7.8% | 73.2% | 73.0% | 6.6% | 6.5% | 6.7% |
| Net Profit Margin | 6.2% | 8.4% | 4.2% | 5.2% | 12.0% | 8.3% | 6.4% | 6.4% |
| Operating Expense % of Sales | 29.2% | 29.5% | 25.9% | 22.4% | 23.2% | 25.3% | 26.1% | 25.2% |
| Returns | ||||||||
| Return on Assets (ROA) | 6.1% | 8.5% | 4.2% | 5.3% | 14.5% | 9.7% | 7.5% | 7.8% |
| Return on Equity (ROE) | 11.4% | 15.2% | 8.0% | 9.8% | 24.0% | 15.1% | 11.7% | 12.4% |
| ROIC [EBIT / Invested Capital] | 8.1% | 10.9% | 10.6% | 105.4% | 120.8% | 11.0% | 11.1% | 11.7% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 16.5% | 16.6% | 23.2% | 20.3% | 14.5% | 10.5% | 9.4% | 10.3% |
| Debt-to-Equity | 0.31x | 0.30x | 0.44x | 0.38x | 0.24x | 0.16x | 0.15x | 0.16x |
| Debt-to-EBITDA | 1.88x | 1.50x | 1.76x | 0.25x | 0.15x | 0.79x | 0.72x | 0.75x |
| Equity-to-Assets | 53.8% | 56.1% | 52.7% | 53.9% | 60.3% | 64.1% | 64.1% | 62.9% |
| Net Debt | 39,808 | 40,525 | 94,433 | 85,720 | 73,029 | 34,223 | 27,205 | 51,106 |
| Cash & Equivalents | 21,056 | 26,244 | 11,755 | 15,028 | 9,785 | 32,377 | 39,423 | 32,124 |
| Total Debt | 60,864 | 66,769 | 106,188 | 100,748 | 82,814 | 66,600 | 66,628 | 83,230 |
| Liquidity & working capital | ||||||||
| Current Ratio | 1.61x | 1.69x | 1.52x | 1.57x | 1.79x | 1.83x | 1.70x | 1.77x |
| Quick Ratio | 0.66x | 0.75x | -842.16x | 0.65x | 0.81x | 0.68x | 0.64x | 0.61x |
| Cash Ratio | 0.17x | 0.21x | 85.94x | 0.10x | 0.06x | 0.18x | 0.19x | 0.14x |
| Total Current Assets | 198,805 | 210,261 | 207 | 242,114 | 299,795 | 327,674 | 358,069 | 399,099 |
| Total Current Liabilities | 123,542 | 124,623 | 137 | 154,061 | 167,614 | 179,178 | 210,057 | 224,988 |
| Inventory | 117,075 | 116,273 | 115,403 | 141,565 | 163,831 | 206,135 | 223,970 | 261,916 |
| Trade Receivables | 55,466 | 52,774 | 65,196 | 69,140 | 115,911 | 79,434 | 97,546 | 113,508 |
| Trade Payables | 101,853 | 90,179 | 74,963 | 91,324 | 129,713 | 147,213 | 169,730 | 194,442 |
| Net Working Capital | 75,263 | 85,638 | 71 | 88,053 | 132,181 | 148,496 | 148,012 | 174,111 |
| Net Working Capital % of Revenue | 20.6% | 20.9% | 0.0% | 17.3% | 19.1% | 20.1% | 17.9% | 17.8% |
| Trade Working Capital | 70,688 | 78,868 | 105,636 | 119,381 | 150,029 | 138,356 | 151,786 | 180,982 |
| Trade Working Capital % of Revenue | 19.3% | 19.3% | 23.1% | 23.5% | 21.7% | 18.8% | 18.4% | 18.5% |
| Change in Trade Working Capital | N/A | 8,180 | 26,768 | 13,745 | 30,648 | -11,673 | 13,430 | 29,196 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 2.00x | 2.21x | 2.44x | 0.00x | 0.00x | 2.28x | 2.32x | 2.40x |
| Days Inventory Outstanding (DIO) | 182.8 | 165.1 | 149.5 | 162970.9 | 139232.0 | 159.8 | 157.1 | 152.2 |
| Receivables Turnover | 6.60x | 7.76x | 7.00x | 7.35x | 5.96x | 9.29x | 8.46x | 8.64x |
| Days Sales Outstanding (DSO) | 55.3 | 47.0 | 52.1 | 49.7 | 61.2 | 39.3 | 43.1 | 42.3 |
| Payables Turnover | 2.29x | 2.85x | 3.76x | 0.00x | 0.00x | 3.20x | 3.07x | 3.23x |
| Days Payable Outstanding (DPO) | 159.1 | 128.0 | 97.1 | 105133.0 | 110236.7 | 114.1 | 119.1 | 113.0 |
| Cash Conversion Cycle | 79.1 days | 84.1 days | 104.5 days | 57887.5 days | 29056.5 days | 85.0 days | 81.2 days | 81.5 days |
| Asset Turnover | 0.99x | 1.02x | 1.00x | 1.03x | 1.21x | 1.16x | 1.16x | 1.21x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 21,585 | 38,943 | 37,624 | 49,576 | 79,921 | 76,990 | 70,618 | 84,310 |
| Free Cash Flow (OCF − Capex proxy) | 21,585 | 2,199 | 8,191 | 26,370 | 22,272 | 46,212 | 17,054 | 11,960 |
| Cash Conversion (OCF / EBITDA) | 66.6% | 87.7% | 62.4% | 12.4% | 14.9% | 91.1% | 75.9% | 76.5% |
| Dividends Declared | 0 | 7,000 | 4,000 | 0 | 5,000 | 0 | 5,024 | 7,803 |
| Dividend Payout Ratio | 0.0% | 20.4% | 20.7% | 0.0% | 6.0% | 0.0% | 9.4% | 12.3% |
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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