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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 845 · FY2023 2,858 · FY2024 3,320 — 3-yr total 7,023
Georgian roadworks contractor (originally Soviet-era SUS-1 unit) building and maintaining highways and municipal roads.
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 15.4% | 16.7% | 22.1% | 11.8% | 5.8% | 15.3% | 27.0% | 36.3% |
| EBITDA Margin | 12.0% | 0.5% | 10.0% | 3.5% | -8.8% | 3.8% | 21.2% | 23.3% |
| EBITDAR | 2,388 | 100 | 2,478 | 1,040 | -1,771 | 829 | 4,403 | 4,633 |
| EBITDAR Margin | 12.0% | 0.5% | 10.0% | 3.5% | -8.8% | 3.8% | 21.2% | 23.3% |
| EBIT Margin | 11.9% | 0.4% | 9.9% | 3.4% | -8.9% | 3.7% | 21.1% | 23.3% |
| Net Profit Margin | 2.1% | 0.0% | 9.3% | 3.4% | -7.9% | 2.5% | 18.2% | 20.4% |
| Operating Expense % of Sales | 3.4% | 16.2% | 12.0% | 8.3% | 14.6% | 11.4% | 5.8% | 13.0% |
| Returns | ||||||||
| Return on Assets (ROA) | 4.8% | 0.0% | 20.4% | 7.8% | -14.7% | 5.4% | 40.2% | 40.2% |
| Return on Equity (ROE) | 5.2% | 0.0% | 26.9% | 11.1% | -24.7% | 8.7% | 53.9% | 52.3% |
| ROIC [EBIT / Invested Capital] | 34.7% | 1.9% | 40.6% | 13.9% | -32.8% | 14.1% | 63.4% | 62.2% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.6% | 3.8% | 3.6% | 7.9% |
| Debt-to-Equity | 0.00x | 0.00x | 0.00x | 0.00x | 0.01x | 0.06x | 0.05x | 0.10x |
| Debt-to-EBITDA | 0.00x | 0.00x | 0.00x | 0.00x | N/A | 0.44x | 0.08x | 0.17x |
| Equity-to-Assets | 92.9% | 75.1% | 76.0% | 70.7% | 59.5% | 62.1% | 74.5% | 76.9% |
| Net Debt | -1,262 | -3,046 | -2,484 | -1,741 | -981 | -341 | -102 | -308 |
| Cash & Equivalents | 1,262 | 3,046 | 2,484 | 1,741 | 1,050 | 710 | 438 | 1,106 |
| Total Debt | N/A | N/A | N/A | N/A | 69 | 369 | 336 | 797 |
| Liquidity & working capital | ||||||||
| Current Ratio | 5.49x | 2.08x | 2.44x | 2.16x | 1.49x | 1.62x | 2.31x | 2.22x |
| Quick Ratio | 4.19x | 1.64x | 1.71x | 1.58x | 0.93x | 1.18x | 1.59x | 1.72x |
| Cash Ratio | 2.02x | 1.25x | 0.92x | 0.46x | 0.24x | 0.19x | 0.18x | 0.47x |
| Total Current Assets | 3,428 | 5,077 | 6,574 | 8,089 | 6,498 | 6,037 | 5,559 | 5,191 |
| Total Current Liabilities | 625 | 2,442 | 2,691 | 3,746 | 4,349 | 3,722 | 2,408 | 2,336 |
| Inventory | 807 | 1,077 | 1,964 | 2,166 | 2,463 | 1,654 | 1,735 | 1,171 |
| Trade Receivables | 1,345 | 941 | 2,117 | 4,174 | 2,861 | 3,504 | 3,386 | 2,915 |
| Trade Payables | 264 | 2,008 | 2,218 | 3,561 | 4,280 | 3,354 | 2,049 | 1,409 |
| Net Working Capital | 2,803 | 2,635 | 3,883 | 4,343 | 2,149 | 2,315 | 3,151 | 2,855 |
| Net Working Capital % of Revenue | 14.1% | 13.4% | 15.7% | 14.8% | 10.7% | 10.7% | 15.2% | 14.4% |
| Trade Working Capital | 1,888 | 10 | 1,863 | 2,780 | 1,044 | 1,804 | 3,072 | 2,677 |
| Trade Working Capital % of Revenue | 9.5% | 0.1% | 7.5% | 9.5% | 5.2% | 8.3% | 14.8% | 13.5% |
| Change in Trade Working Capital | N/A | -1,878 | 1,853 | 917 | -1,735 | 760 | 1,268 | -395 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 20.85x | 15.21x | 9.79x | 11.96x | 7.67x | 11.12x | 8.75x | 10.81x |
| Days Inventory Outstanding (DIO) | 17.5 | 24.0 | 37.3 | 30.5 | 47.6 | 32.8 | 41.7 | 33.8 |
| Receivables Turnover | 14.79x | 20.89x | 11.66x | 7.04x | 7.01x | 6.19x | 6.14x | 6.82x |
| Days Sales Outstanding (DSO) | 24.7 | 17.5 | 31.3 | 51.9 | 52.1 | 58.9 | 59.4 | 53.5 |
| Payables Turnover | 63.73x | 8.16x | 8.67x | 7.27x | 4.42x | 5.48x | 7.41x | 8.99x |
| Days Payable Outstanding (DPO) | 5.7 | 44.7 | 42.1 | 50.2 | 82.7 | 66.6 | 49.3 | 40.6 |
| Cash Conversion Cycle | 36.5 days | -3.3 days | 26.5 days | 32.2 days | 17.0 days | 25.2 days | 51.9 days | 46.6 days |
| Asset Turnover | 2.28x | 2.00x | 2.20x | 2.30x | 1.87x | 2.21x | 2.21x | 1.97x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 1,794 | 2,950 | 1,277 | 506 | 387 | 322 | 3,278 | 5,065 |
| Free Cash Flow (OCF − Capex proxy) | 1,794 | 2,527 | 583 | -262 | 298 | 206 | 2,619 | 3,527 |
| Cash Conversion (OCF / EBITDA) | 75.1% | 2964.3% | 51.5% | 48.6% | N/A | 38.8% | 74.4% | 109.3% |
| Dividends Declared | 1,497 | 744 | 1,145 | 481 | 1,058 | 845 | 2,858 | 3,320 |
| Dividend Payout Ratio | 355.0% | 20184.1% | 50.1% | 47.9% | N/A | 158.5% | 75.5% | 81.8% |
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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