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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 45,134 · FY2023 0 · FY2024 0 — 3-yr total 45,134
JSC Corporation Poti Sea Port is Georgia's largest seaport (owned by APM Terminals / A.P. Moller-Maersk), handling ~80% of national container traffic plus liquids, dry bulk and ferries. 15 berths, 2,900m of quay, with a ~USD 200m expansion announced.
apmterminals.comship-technology.com
Group parent — controls 1 company · ownership
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 98.1% | 97.5% | 98.0% | 98.6% | 98.3% | 97.4% | 97.0% | 97.7% |
| EBITDA Margin | 79.5% | 59.7% | 68.6% | 66.4% | 61.6% | 61.6% | 63.2% | 59.6% |
| EBITDAR | 110,857 | 89,631 | 153,148 | 129,182 | 115,538 | 124,833 | 142,823 | 133,404 |
| EBITDAR Margin | 79.5% | 59.7% | 68.6% | 66.4% | 61.6% | 61.6% | 63.2% | 59.6% |
| EBIT Margin | 63.3% | 42.6% | 58.7% | 55.0% | 49.2% | 50.0% | 50.6% | 45.2% |
| Net Profit Margin | 40.1% | 38.5% | 52.3% | 62.3% | 44.4% | 46.6% | 50.0% | 43.3% |
| Operating Expense % of Sales | 18.6% | 37.8% | 29.4% | 32.2% | 36.7% | 35.8% | 33.9% | 38.3% |
| Returns | ||||||||
| Return on Assets (ROA) | 15.7% | 11.5% | 18.8% | 21.6% | 14.9% | 13.0% | 13.8% | 10.5% |
| Return on Equity (ROE) | 18.3% | 12.4% | 20.0% | 23.0% | 16.1% | 14.1% | 14.4% | 11.0% |
| ROIC [EBIT / Invested Capital] | 29.3% | 13.6% | 22.7% | 22.8% | 18.1% | 15.4% | 15.2% | 11.7% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 2.0% | 2.2% | 1.8% | 2.1% | 1.8% | 1.1% | 0.8% | 0.6% |
| Debt-to-Equity | 0.02x | 0.02x | 0.02x | 0.02x | 0.02x | 0.01x | 0.01x | 0.01x |
| Debt-to-EBITDA | 0.06x | 0.12x | 0.07x | 0.09x | 0.09x | 0.06x | 0.05x | 0.04x |
| Equity-to-Assets | 85.7% | 92.8% | 94.0% | 94.1% | 92.4% | 92.5% | 95.7% | 95.6% |
| Net Debt | -4,419 | 505 | -6,522 | -57,759 | -6,561 | -11,937 | -33,447 | -14,651 |
| Cash & Equivalents | 11,444 | 10,531 | 17,582 | 69,440 | 16,603 | 19,735 | 40,154 | 20,440 |
| Total Debt | 7,025 | 11,036 | 11,060 | 11,681 | 10,042 | 7,798 | 6,707 | 5,789 |
| Liquidity & working capital | ||||||||
| Current Ratio | 1.61x | 2.75x | 12.53x | 7.45x | 1.66x | 0.99x | 2.94x | 8.24x |
| Quick Ratio | 1.48x | 2.31x | 12.25x | 7.05x | 1.47x | 0.88x | 2.74x | 8.11x |
| Cash Ratio | 0.71x | 0.97x | 1.36x | 5.51x | 0.68x | 0.51x | 1.84x | 0.71x |
| Total Current Assets | 25,951 | 29,727 | 162,083 | 93,966 | 40,774 | 38,274 | 64,054 | 236,847 |
| Total Current Liabilities | 16,080 | 10,824 | 12,933 | 12,605 | 24,576 | 38,841 | 21,798 | 28,732 |
| Inventory | 2,190 | 4,714 | 3,716 | 5,052 | 4,722 | 4,222 | 4,235 | 3,872 |
| Trade Receivables | 7,348 | 8,697 | 10,734 | 12,066 | 11,196 | 8,128 | 11,706 | 12,279 |
| Trade Payables | 671 | 2,308 | 2,299 | 3,264 | 13,621 | 20,278 | 6,444 | 5,288 |
| Net Working Capital | 9,871 | 18,903 | 149,150 | 81,361 | 16,198 | -567 | 42,256 | 208,115 |
| Net Working Capital % of Revenue | 7.1% | 12.6% | 66.8% | 41.8% | 8.6% | -0.3% | 18.7% | 92.9% |
| Trade Working Capital | 8,867 | 11,103 | 12,151 | 13,854 | 2,297 | -7,928 | 9,497 | 10,863 |
| Trade Working Capital % of Revenue | 6.4% | 7.4% | 5.4% | 7.1% | 1.2% | -3.9% | 4.2% | 4.8% |
| Change in Trade Working Capital | N/A | 2,236 | 1,048 | 1,703 | -11,557 | -10,225 | 17,425 | 1,366 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 1.23x | 0.79x | 1.20x | 0.54x | 0.66x | 1.27x | 1.59x | 1.32x |
| Days Inventory Outstanding (DIO) | 297.9 | 461.7 | 304.2 | 678.4 | 549.6 | 288.1 | 230.1 | 276.5 |
| Receivables Turnover | 18.97x | 17.25x | 20.79x | 16.12x | 16.75x | 24.92x | 19.30x | 18.24x |
| Days Sales Outstanding (DSO) | 19.2 | 21.2 | 17.6 | 22.6 | 21.8 | 14.6 | 18.9 | 20.0 |
| Payables Turnover | 4.00x | 1.61x | 1.94x | 0.83x | 0.23x | 0.26x | 1.04x | 0.97x |
| Days Payable Outstanding (DPO) | 91.3 | 226.0 | 188.2 | 438.3 | 1585.4 | 1383.7 | 350.1 | 377.6 |
| Cash Conversion Cycle | 225.9 days | 256.8 days | 133.6 days | 262.7 days | -1014.0 days | -1081.0 days | -101.1 days | -81.1 days |
| Asset Turnover | 0.39x | 0.30x | 0.36x | 0.35x | 0.34x | 0.28x | 0.28x | 0.24x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 87,991 | 79,988 | 133,239 | 112,368 | 101,504 | 129,345 | 129,427 | 118,931 |
| Free Cash Flow (OCF − Capex proxy) | 87,991 | 83,617 | 8,005 | 232,031 | 48,530 | 53,390 | 19,228 | -17,959 |
| Cash Conversion (OCF / EBITDA) | 79.4% | 89.2% | 87.0% | 87.0% | 87.9% | 103.6% | 90.6% | 89.2% |
| Dividends Declared | 107,143 | 53,882 | 30 | 178,170 | 94,410 | 45,134 | 0 | 0 |
| Dividend Payout Ratio | 191.8% | 93.2% | 0.0% | 147.1% | 113.4% | 47.8% | 0.0% | 0.0% |
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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