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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2021 4,562 · FY2022 3,448 · FY2023 686 — 3-yr total 8,696
Georgian wine producer and distributor.
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross Margin | 42.7% | 33.9% | 42.2% | 43.4% | 44.7% | 29.1% | 29.0% |
| EBITDA Margin | 36.4% | 4.4% | 22.3% | 25.8% | 24.7% | 8.0% | 4.3% |
| EBITDAR | 8,338 | 930 | 6,977 | 6,825 | 7,964 | 2,084 | 922 |
| EBITDAR Margin | 36.4% | 4.4% | 22.3% | 25.8% | 24.7% | 8.0% | 4.3% |
| EBIT Margin | 35.8% | 1.4% | 20.5% | 22.9% | 22.4% | 5.6% | 3.4% |
| Net Profit Margin | 28.7% | -0.5% | 26.7% | 21.4% | 19.2% | 1.0% | -1.6% |
| Operating Expense % of Sales | 6.2% | 29.5% | 19.9% | 17.5% | 20.0% | 21.0% | 24.7% |
| Returns | |||||||
| Return on Assets (ROA) | 41.5% | -0.5% | 32.5% | 21.6% | 18.8% | 0.9% | -1.3% |
| Return on Equity (ROE) | 74.1% | -1.1% | 46.5% | 29.6% | 30.0% | 1.4% | -2.0% |
| ROIC [EBIT / Invested Capital] | 65.2% | 1.9% | 28.9% | 26.7% | 26.5% | 6.3% | 3.7% |
| Leverage & debt balances | |||||||
| Debt-to-Assets | 26.2% | 29.0% | 16.6% | 18.3% | 19.8% | 19.4% | 11.9% |
| Debt-to-Equity | 0.47x | 0.61x | 0.24x | 0.25x | 0.31x | 0.31x | 0.18x |
| Debt-to-EBITDA | 0.50x | 6.26x | 0.61x | 0.70x | 0.82x | 2.65x | 3.25x |
| Equity-to-Assets | 56.0% | 47.8% | 70.0% | 72.9% | 62.9% | 62.9% | 67.3% |
| Net Debt | 3,701 | 5,736 | 4,167 | 3,603 | 6,479 | 5,148 | 2,917 |
| Cash & Equivalents | 441 | 84 | 87 | 1,178 | 37 | 382 | 81 |
| Total Debt | 4,142 | 5,820 | 4,254 | 4,782 | 6,516 | 5,530 | 2,997 |
| Liquidity & working capital | |||||||
| Current Ratio | 3.51x | 4.30x | 7.43x | 11.37x | 3.19x | 3.00x | 2.96x |
| Quick Ratio | 1.59x | 2.45x | 4.29x | 5.93x | 1.37x | 0.87x | 1.01x |
| Cash Ratio | 0.16x | 0.02x | 0.03x | 0.51x | 0.00x | 0.05x | 0.01x |
| Total Current Assets | 9,876 | 20,101 | 25,647 | 26,130 | 27,570 | 22,565 | 18,400 |
| Total Current Liabilities | 2,814 | 4,677 | 3,450 | 2,298 | 8,636 | 7,528 | 6,208 |
| Inventory | 5,415 | 8,635 | 10,859 | 12,495 | 15,731 | 16,027 | 12,137 |
| Trade Receivables | 2,482 | 4,247 | 8,534 | 6,448 | 10,906 | 5,386 | 5,122 |
| Trade Payables | 1,879 | 1,966 | 3,308 | 2,268 | 5,650 | 4,983 | 5,152 |
| Net Working Capital | 7,062 | 15,424 | 22,197 | 23,832 | 18,934 | 15,037 | 12,193 |
| Net Working Capital % of Revenue | 30.8% | 73.6% | 71.1% | 90.2% | 58.7% | 58.1% | 56.5% |
| Trade Working Capital | 6,018 | 10,916 | 16,085 | 16,675 | 20,988 | 16,429 | 12,107 |
| Trade Working Capital % of Revenue | 26.3% | 52.1% | 51.5% | 63.1% | 65.1% | 63.4% | 56.1% |
| Change in Trade Working Capital | N/A | 4,899 | 5,169 | 590 | 4,313 | -4,558 | -4,322 |
| Turnover & efficiency | |||||||
| Inventory Turnover | 2.42x | 1.60x | 1.66x | 1.20x | 1.13x | 1.15x | 1.26x |
| Days Inventory Outstanding (DIO) | 150.5 | 227.6 | 219.6 | 304.9 | 322.3 | 318.5 | 289.0 |
| Receivables Turnover | 9.22x | 4.93x | 3.66x | 4.10x | 2.96x | 4.81x | 4.21x |
| Days Sales Outstanding (DSO) | 39.6 | 74.0 | 99.7 | 89.1 | 123.5 | 75.9 | 86.6 |
| Payables Turnover | 6.99x | 7.04x | 5.46x | 6.59x | 3.15x | 3.69x | 2.98x |
| Days Payable Outstanding (DPO) | 52.2 | 51.8 | 66.9 | 55.3 | 115.8 | 99.0 | 122.7 |
| Cash Conversion Cycle | 137.9 days | 249.8 days | 252.4 days | 338.6 days | 330.0 days | 295.4 days | 252.9 days |
| Asset Turnover | 1.45x | 1.04x | 1.22x | 1.01x | 0.98x | 0.91x | 0.86x |
| Cash flow & dividends | |||||||
| Operating Cash Flow | 1,243 | -254 | 2,691 | 3,874 | 3,643 | 6,804 | 3,510 |
| Free Cash Flow (OCF − Capex proxy) | 1,243 | -1,330 | 2,100 | 2,175 | 2,633 | 5,306 | 3,413 |
| Cash Conversion (OCF / EBITDA) | 14.9% | -27.3% | 38.6% | 56.8% | 45.7% | 326.4% | 380.8% |
| Dividends Declared | 2,122 | 0 | 0 | 3,535 | 4,562 | 3,448 | 686 |
| Dividend Payout Ratio | 32.3% | N/A | 0.0% | 62.6% | 73.6% | 1354.8% | 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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