Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	13.5%	10.9%	20.5%	17.8%	17.7%	25.0%	-9.9%
EBITDA Margin	9.5%	5.6%	17.9%	13.7%	13.8%	15.4%	-33.1%
EBITDAR	595	378	3,507	2,437	3,421	1,345	-2,149
EBITDAR Margin	9.5%	5.8%	17.9%	13.7%	13.8%	15.4%	-33.1%
EBIT Margin	9.5%	5.6%	17.9%	13.5%	13.6%	14.7%	-33.7%
Net Profit Margin	5.1%	2.6%	17.1%	10.7%	10.0%	6.9%	-37.4%
Operating Expense % of Sales	4.0%	5.3%	2.5%	4.2%	3.9%	9.6%	23.2%
Returns
Return on Assets (ROA)	9.3%	3.6%	20.8%	8.6%	14.5%	3.2%	-9.5%
Return on Equity (ROE)	175.7%	50.2%	91.1%	49.6%	48.0%	9.4%	-61.7%
ROIC [EBIT / Invested Capital]	39.3%	20.3%	155.5%	30.3%	29.8%	9.2%	-30.1%
Leverage & liquidity
Debt-to-Assets	44.4%	40.3%	7.5%	21.2%	38.9%	40.4%	17.5%
Debt-to-Equity	8.35x	5.63x	0.33x	1.22x	1.29x	1.20x	1.13x
Debt-to-EBITDA	2.53x	5.09x	0.35x	1.92x	1.96x	5.67x	N/A
Equity-to-Assets	5.3%	7.2%	22.8%	17.4%	30.1%	33.7%	15.4%
Net Debt	1,335	1,462	-1,426	4,122	6,150	7,597	3,338
Cash & Equivalents	168	400	2,636	562	560	33	1,133
Total Debt	1,503	1,862	1,210	4,684	6,709	7,631	4,472
Efficiency & working capital
Inventory Turnover	N/A	3.32x	5.87x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	110.0	62.2	N/A	N/A	N/A	N/A
Receivables Turnover	8.42x	16.12x	2.93x	2.27x	3.14x	1.29x	0.95x
Days Sales Outstanding (DSO)	43.3	22.6	124.6	160.5	116.2	282.9	383.8
Payables Turnover	6.02x	6.00x	2.67x	2.06x	4.01x	2.02x	2.88x
Days Payable Outstanding (DPO)	60.6	60.9	136.7	177.1	91.1	180.4	126.7
Cash Conversion Cycle	-17.3 days	71.8 days	50.1 days	-16.7 days	25.1 days	102.5 days	257.1 days
Asset Turnover	1.85x	1.41x	1.21x	0.81x	1.44x	0.46x	0.25x
Cash flow & dividends
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow (OCF − Capex proxy)	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash Conversion (OCF / EBITDA)	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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 ₾ '000. Margins, returns and payout are percentages; turnover and leverage are multiples; DIO/DSO/DPO are days. Hover a metric name for its definition.

Ownership & group structure

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.

companyinfo.ge · fetched 2026-07-15