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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Operates in Logistics & Transport — Warehousing & Distribution. Per the activity note to the FY2024 annual report, the company provides freight forwarding services and organizes international shipments.
| Ratio | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross Margin | 100.0% | 100.0% | 39.2% | 21.3% | 25.9% |
| EBITDA Margin | 2.1% | 0.1% | 11.0% | 4.9% | 6.7% |
| EBITDAR | 48 | 2 | 304 | 140 | 134 |
| EBITDAR Margin | 2.1% | 0.1% | 11.0% | 4.9% | 6.7% |
| EBIT Margin | 0.3% | -1.4% | 9.9% | 4.3% | 5.8% |
| Net Profit Margin | -1.2% | -3.6% | 6.3% | 2.2% | 3.4% |
| Operating Expense % of Sales | 97.9% | 99.9% | 28.2% | 16.4% | 19.3% |
| Returns | |||||
| Return on Assets (ROA) | -4.7% | -23.9% | 28.5% | 10.9% | 10.9% |
| Return on Equity (ROE) | -12.8% | -180.6% | 99.7% | 28.1% | 23.0% |
| ROIC [EBIT / Invested Capital] | 1.1% | -12.7% | 55.2% | 24.0% | 22.5% |
| Leverage & debt balances | |||||
| Debt-to-Assets | 61.6% | 70.5% | 63.8% | 56.2% | 41.6% |
| Debt-to-Equity | 1.66x | 5.32x | 2.23x | 1.45x | 0.88x |
| Debt-to-EBITDA | 7.33x | 177.75x | 1.28x | 2.35x | 1.94x |
| Equity-to-Assets | 37.0% | 13.2% | 28.6% | 38.9% | 47.5% |
| Net Debt | 315 | 299 | 324 | 285 | 223 |
| Cash & Equivalents | 36 | 70 | 66 | 45 | 36 |
| Total Debt | 351 | 369 | 390 | 330 | 259 |
| Liquidity & working capital | |||||
| Current Ratio | 2.78x | 1.47x | 1.53x | 1.71x | 1.66x |
| Quick Ratio | 2.67x | 1.47x | 1.53x | 1.71x | 1.66x |
| Cash Ratio | 0.61x | 0.54x | 0.29x | 0.22x | 0.15x |
| Total Current Assets | 163 | 192 | 347 | 352 | 410 |
| Total Current Liabilities | 59 | 131 | 227 | 206 | 248 |
| Inventory | 7 | N/A | N/A | N/A | N/A |
| Trade Receivables | 107 | 111 | 277 | 307 | 371 |
| Trade Payables | 8 | 85 | 32 | 25 | 58 |
| Net Working Capital | 105 | 62 | 120 | 146 | 162 |
| Net Working Capital % of Revenue | 4.6% | 1.8% | 4.3% | 5.1% | 8.1% |
| Trade Working Capital | 106 | 27 | 245 | 281 | 312 |
| Trade Working Capital % of Revenue | 4.7% | 0.8% | 8.8% | 9.9% | 15.5% |
| Change in Trade Working Capital | N/A | -79 | 218 | 37 | 31 |
| Turnover & efficiency | |||||
| Inventory Turnover | N/A | N/A | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | N/A | N/A | N/A | N/A |
| Receivables Turnover | 21.23x | 31.15x | 10.01x | 9.31x | 5.42x |
| Days Sales Outstanding (DSO) | 17.2 | 11.7 | 36.5 | 39.2 | 67.3 |
| Payables Turnover | N/A | N/A | 51.94x | 88.75x | 25.48x |
| Days Payable Outstanding (DPO) | N/A | N/A | 7.0 | 4.1 | 14.3 |
| Cash Conversion Cycle | 17.2 days | 11.7 days | 29.4 days | 35.1 days | 53.0 days |
| Asset Turnover | 3.98x | 6.62x | 4.54x | 4.87x | 3.22x |
| Cash flow & dividends | |||||
| Operating Cash Flow | -10 | 59 | N/A | N/A | N/A |
| Free Cash Flow (OCF − Capex proxy) | -89 | 58 | N/A | N/A | N/A |
| Cash Conversion (OCF / EBITDA) | -20.2% | 2833.3% | N/A | N/A | N/A |
| Dividends Declared | N/A | N/A | N/A | N/A | N/A |
| Dividend Payout Ratio | 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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