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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Operates in Industrial Goods — Building Materials. Per the activity note to the FY2024 annual report, the company produces and sells asphalt-concrete and concrete products.
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross Margin | 47.4% | 70.5% | 19.1% | -3.9% | 17.5% | 11.1% | 4.3% |
| EBITDA Margin | 16.4% | 10.1% | 6.7% | -11.9% | 6.3% | 2.8% | 1.5% |
| EBITDAR | 665 | 752 | 379 | -1,077 | 278 | 87 | 153 |
| EBITDAR Margin | 16.5% | 10.1% | 6.7% | -11.9% | 6.3% | 2.8% | 1.5% |
| EBIT Margin | 16.4% | 10.1% | 6.6% | -12.0% | 6.0% | 0.8% | 1.5% |
| Net Profit Margin | 16.4% | 10.1% | 6.7% | -2.9% | 7.1% | 2.4% | 3.3% |
| Operating Expense % of Sales | 31.0% | 60.4% | 12.4% | 8.0% | 11.2% | 8.3% | 2.8% |
| Returns | |||||||
| Return on Assets (ROA) | 38.6% | 29.4% | 6.4% | -8.7% | 9.6% | 1.9% | 7.1% |
| Return on Equity (ROE) | 49.9% | 36.1% | 15.5% | -19.3% | 19.4% | 4.5% | 16.5% |
| ROIC [EBIT / Invested Capital] | 58.0% | 37.4% | 15.8% | -73.8% | 16.6% | 1.5% | 5.9% |
| Leverage & debt balances | |||||||
| Debt-to-Assets | 0.0% | 0.0% | 0.0% | 6.9% | 0.0% | 5.1% | 12.6% |
| Debt-to-Equity | 0.00x | 0.00x | 0.00x | 0.15x | 0.00x | 0.12x | 0.29x |
| Debt-to-EBITDA | 0.00x | 0.00x | 0.00x | N/A | 0.00x | 2.30x | 3.84x |
| Equity-to-Assets | 77.4% | 81.5% | 41.1% | 44.9% | 49.5% | 42.7% | 42.8% |
| Net Debt | -187 | -73 | -75 | 125 | -4 | 61 | 561 |
| Cash & Equivalents | 187 | 73 | 75 | 80 | 4 | 139 | 28 |
| Total Debt | N/A | N/A | N/A | 205 | N/A | 200 | 589 |
| Liquidity & working capital | |||||||
| Current Ratio | 3.36x | 3.58x | 1.48x | 0.71x | 0.90x | 1.24x | 1.58x |
| Quick Ratio | 3.36x | 1.83x | 1.05x | 0.71x | 0.90x | 1.24x | 1.58x |
| Cash Ratio | 0.48x | 0.16x | 0.02x | 0.05x | 0.00x | 0.06x | 0.01x |
| Total Current Assets | 1,299 | 1,679 | 5,192 | 1,172 | 1,463 | 2,775 | 3,487 |
| Total Current Liabilities | 387 | 470 | 3,509 | 1,648 | 1,628 | 2,241 | 2,203 |
| Inventory | N/A | 821 | 1,514 | N/A | N/A | N/A | N/A |
| Trade Receivables | 847 | 785 | 3,603 | 518 | 885 | 1,544 | 2,274 |
| Trade Payables | 387 | 441 | 3,466 | 1,285 | 1,476 | 1,932 | 1,969 |
| Net Working Capital | 912 | 1,210 | 1,683 | -476 | -165 | 535 | 1,283 |
| Net Working Capital % of Revenue | 22.7% | 16.3% | 29.6% | -5.3% | -3.8% | 17.0% | 12.6% |
| Trade Working Capital | 460 | 1,164 | 1,652 | -767 | -592 | -388 | 305 |
| Trade Working Capital % of Revenue | 11.4% | 15.7% | 29.0% | -8.5% | -13.5% | -12.3% | 3.0% |
| Change in Trade Working Capital | N/A | 705 | 487 | -2,419 | 175 | 204 | 693 |
| Turnover & efficiency | |||||||
| Inventory Turnover | N/A | 2.67x | 3.04x | N/A | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | 136.7 | 120.1 | N/A | N/A | N/A | N/A |
| Receivables Turnover | 4.75x | 9.48x | 1.58x | 17.50x | 4.96x | 2.04x | 4.47x |
| Days Sales Outstanding (DSO) | 76.8 | 38.5 | 231.3 | 20.9 | 73.6 | 178.8 | 81.6 |
| Payables Turnover | 5.47x | 4.96x | 1.33x | 7.33x | 2.45x | 1.45x | 4.94x |
| Days Payable Outstanding (DPO) | 66.7 | 73.5 | 274.9 | 49.8 | 149.0 | 251.6 | 73.8 |
| Cash Conversion Cycle | 10.1 days | 101.7 days | 76.5 days | -29.0 days | -75.3 days | -72.8 days | 7.8 days |
| Asset Turnover | 2.35x | 2.93x | 0.95x | 3.03x | 1.36x | 0.81x | 2.17x |
| Cash flow & dividends | |||||||
| Operating Cash Flow | 409 | 300 | 128 | -168 | 367 | -73 | -71 |
| Free Cash Flow (OCF − Capex proxy) | 157 | -105 | 1 | -175 | 144 | 468 | -227 |
| Cash Conversion (OCF / EBITDA) | 61.9% | 39.9% | 33.8% | N/A | 131.8% | -83.7% | -46.6% |
| Dividends Declared | N/A | 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 | 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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