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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Operates in Logistics & Transport — Road Freight. Per the activity note to the FY2023 annual report, the company organizes international freight transport services.
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross Margin | 10.2% | 11.1% | 5.6% | 4.7% | 6.7% | 100.0% |
| EBITDA Margin | 5.7% | 0.6% | -5.9% | -1.5% | 0.0% | 2.6% |
| EBITDAR | 586 | 85 | -351 | -113 | 6 | 113 |
| EBITDAR Margin | 5.8% | 0.7% | -5.7% | -1.4% | 0.1% | 2.7% |
| EBIT Margin | 5.7% | 0.6% | -5.9% | -1.5% | 0.0% | 2.6% |
| Net Profit Margin | 5.8% | 0.6% | -0.6% | -1.6% | -1.0% | 2.3% |
| Operating Expense % of Sales | 4.5% | 10.6% | 11.5% | 6.2% | 6.7% | 97.4% |
| Returns | ||||||
| Return on Assets (ROA) | 70.8% | 8.2% | -4.3% | -17.8% | -15.7% | 12.4% |
| Return on Equity (ROE) | 71.9% | 8.4% | -4.5% | -18.8% | -16.8% | 15.0% |
| ROIC [EBIT / Invested Capital] | 89.4% | 12.5% | -122.4% | -40.7% | 1.0% | 44.4% |
| Leverage & debt balances | ||||||
| Debt-to-Assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Debt-to-Equity | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Debt-to-EBITDA | 0.00x | 0.00x | N/A | N/A | 0.00x | 0.00x |
| Equity-to-Assets | 98.4% | 97.0% | 96.0% | 94.9% | 93.6% | 82.6% |
| Net Debt | -174 | -288 | -533 | -387 | -320 | -398 |
| Cash & Equivalents | 174 | 288 | 533 | 387 | 320 | 398 |
| Total Debt | N/A | N/A | N/A | N/A | N/A | N/A |
| Liquidity & working capital | ||||||
| Current Ratio | 62.38x | 34.57x | 25.11x | 19.49x | 14.43x | 5.89x |
| Quick Ratio | 62.38x | 34.57x | 25.11x | 19.49x | 14.43x | 5.89x |
| Cash Ratio | 13.01x | 10.97x | 15.58x | 10.65x | 8.58x | 3.01x |
| Total Current Assets | 832 | 907 | 860 | 708 | 539 | 778 |
| Total Current Liabilities | 13 | 26 | 34 | 36 | 37 | 132 |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A |
| Trade Receivables | 623 | 597 | 314 | 318 | 255 | 380 |
| Trade Payables | 13 | 27 | 29 | 36 | 37 | 132 |
| Net Working Capital | 819 | 881 | 825 | 672 | 501 | 646 |
| Net Working Capital % of Revenue | 8.1% | 6.9% | 13.5% | 8.5% | 5.4% | 15.5% |
| Trade Working Capital | 610 | 570 | 285 | 281 | 218 | 248 |
| Trade Working Capital % of Revenue | 6.0% | 4.5% | 4.7% | 3.6% | 2.3% | 5.9% |
| Change in Trade Working Capital | N/A | -40 | -285 | -4 | -63 | 29 |
| 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 | 16.23x | 21.45x | 19.50x | 24.73x | 36.39x | 10.98x |
| Days Sales Outstanding (DSO) | 22.5 | 17.0 | 18.7 | 14.8 | 10.0 | 33.2 |
| Payables Turnover | 681.32x | 422.67x | 202.39x | 206.13x | 232.19x | N/A |
| Days Payable Outstanding (DPO) | 0.5 | 0.9 | 1.8 | 1.8 | 1.6 | N/A |
| Cash Conversion Cycle | 22.0 days | 16.2 days | 16.9 days | 13.0 days | 8.5 days | 33.2 days |
| Asset Turnover | 12.15x | 14.11x | 7.11x | 11.08x | 15.90x | 5.35x |
| Cash flow & dividends | ||||||
| Operating Cash Flow | 95 | 124 | 586 | -138 | -79 | 75 |
| Free Cash Flow (OCF − Capex proxy) | 95 | 122 | 586 | -138 | -79 | 74 |
| Cash Conversion (OCF / EBITDA) | 16.5% | 166.0% | N/A | N/A | -3291.7% | 68.4% |
| 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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