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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 0 · FY2024 0
Operates in FMCG. Per the activity note to the FY2024 annual report, the company processes wheat and sells flour of various grades.
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 8.1% | 9.4% | 11.8% | 8.1% | 6.5% | 8.2% | 9.5% | 15.5% |
| EBITDA Margin | 6.5% | 2.0% | 4.5% | -1.8% | -1.9% | -0.2% | -3.0% | 1.3% |
| EBITDAR | 1,612 | 484 | 1,251 | -453 | -636 | -79 | -759 | 299 |
| EBITDAR Margin | 6.7% | 2.2% | 4.5% | -1.8% | -1.9% | -0.2% | -3.0% | 1.3% |
| EBIT Margin | 5.8% | 1.2% | 3.6% | -2.3% | -1.9% | -0.2% | -3.0% | 1.3% |
| Net Profit Margin | -3.6% | -0.0% | 1.7% | -2.2% | 2.2% | -0.7% | -3.2% | 0.7% |
| Operating Expense % of Sales | 1.6% | 7.5% | 7.3% | 9.9% | 8.4% | 8.4% | 12.5% | 14.2% |
| Returns | ||||||||
| Return on Assets (ROA) | -9.4% | -0.0% | 4.9% | -6.6% | 8.4% | -2.2% | -10.2% | 2.1% |
| Return on Equity (ROE) | -119.9% | -0.6% | 50.5% | -155.5% | 66.5% | -17.0% | -157.1% | 23.5% |
| ROIC [EBIT / Invested Capital] | 19.8% | 3.6% | 12.1% | -7.8% | -10.0% | -1.2% | -13.8% | 5.5% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 82.7% | 81.4% | 77.3% | 84.6% | 72.2% | 52.5% | 64.5% | 63.7% |
| Debt-to-Equity | 10.52x | 10.45x | 7.99x | 19.92x | 5.71x | 4.10x | 9.90x | 7.25x |
| Debt-to-EBITDA | 4.84x | 17.15x | 6.01x | N/A | N/A | N/A | N/A | 16.61x |
| Equity-to-Assets | 7.9% | 7.8% | 9.7% | 4.2% | 12.6% | 12.8% | 6.5% | 8.8% |
| Net Debt | 6,328 | 7,131 | 7,320 | 7,200 | 5,280 | 5,500 | 4,971 | 4,723 |
| Cash & Equivalents | 1,271 | 375 | 193 | 132 | 987 | 30 | 218 | 241 |
| Total Debt | 7,599 | 7,507 | 7,513 | 7,332 | 6,267 | 5,529 | 5,188 | 4,965 |
| Liquidity & working capital | ||||||||
| Current Ratio | 19.25x | 4.39x | 3.27x | 2.77x | 2.44x | 1.53x | 1.44x | 1.34x |
| Quick Ratio | 12.67x | 2.41x | 1.95x | 1.44x | 1.46x | 0.48x | 0.61x | 0.58x |
| Cash Ratio | 5.00x | 0.33x | 0.11x | 0.08x | 0.47x | 0.01x | 0.07x | 0.08x |
| Total Current Assets | 4,892 | 5,049 | 5,523 | 4,637 | 5,106 | 6,581 | 4,240 | 4,235 |
| Total Current Liabilities | 254 | 1,149 | 1,689 | 1,672 | 2,093 | 4,297 | 2,946 | 3,172 |
| Inventory | 1,671 | 2,279 | 2,229 | 2,232 | 2,054 | 4,510 | 2,430 | 2,405 |
| Trade Receivables | 1,934 | 2,322 | 3,099 | 2,269 | 2,064 | 1,891 | 1,518 | 1,588 |
| Trade Payables | 166 | 324 | 578 | 324 | 355 | 3,097 | 1,804 | 1,526 |
| Net Working Capital | 4,637 | 3,900 | 3,834 | 2,965 | 3,013 | 2,284 | 1,294 | 1,063 |
| Net Working Capital % of Revenue | 19.3% | 17.5% | 13.7% | 11.5% | 9.2% | 6.9% | 5.1% | 4.5% |
| Trade Working Capital | 3,439 | 4,277 | 4,750 | 4,177 | 3,763 | 3,304 | 2,144 | 2,467 |
| Trade Working Capital % of Revenue | 14.3% | 19.1% | 17.0% | 16.2% | 11.5% | 9.9% | 8.4% | 10.4% |
| Change in Trade Working Capital | N/A | 837 | 473 | -573 | -414 | -458 | -1,160 | 323 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 13.24x | 8.88x | 11.04x | 10.64x | 14.91x | 6.76x | 9.54x | 8.31x |
| Days Inventory Outstanding (DIO) | 27.6 | 41.1 | 33.0 | 34.3 | 24.5 | 54.0 | 38.3 | 43.9 |
| Receivables Turnover | 12.45x | 9.62x | 9.01x | 11.39x | 15.86x | 17.57x | 16.87x | 14.89x |
| Days Sales Outstanding (DSO) | 29.3 | 37.9 | 40.5 | 32.0 | 23.0 | 20.8 | 21.6 | 24.5 |
| Payables Turnover | 133.40x | 62.47x | 42.62x | 73.30x | 86.28x | 9.85x | 12.85x | 13.09x |
| Days Payable Outstanding (DPO) | 2.7 | 5.8 | 8.6 | 5.0 | 4.2 | 37.1 | 28.4 | 27.9 |
| Cash Conversion Cycle | 54.1 days | 73.2 days | 65.0 days | 61.4 days | 43.3 days | 37.7 days | 31.5 days | 40.6 days |
| Asset Turnover | 2.62x | 2.42x | 2.87x | 2.98x | 3.77x | 3.15x | 3.18x | 3.03x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 1,452 | -754 | 384 | 196 | 1,436 | -24 | 426 | 347 |
| Free Cash Flow (OCF − Capex proxy) | 1,452 | -787 | 266 | 197 | 1,796 | -220 | 397 | 300 |
| Cash Conversion (OCF / EBITDA) | 92.5% | -172.3% | 30.7% | N/A | N/A | N/A | N/A | 116.2% |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | N/A | N/A | 0.0% | N/A | 0.0% | N/A | N/A | 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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