Ratio	2020	2021	2022	2023
Margins
Gross Margin	23.7%	11.2%	5.6%	27.9%
EBITDA Margin	18.7%	7.0%	1.2%	24.5%
EBITDAR	404	223	28	1,386
EBITDAR Margin	18.7%	7.0%	1.2%	24.5%
EBIT Margin	17.4%	6.0%	-0.1%	23.6%
Net Profit Margin	16.0%	5.6%	-0.9%	22.2%
Operating Expense % of Sales	5.0%	4.2%	4.4%	3.4%
Returns
Return on Assets (ROA)	48.5%	26.1%	-3.8%	88.2%
Return on Equity (ROE)	54.2%	29.4%	-4.6%	96.8%
ROIC [EBIT / Invested Capital]	84.3%	37.7%	-0.8%	120.5%
Leverage & liquidity
Debt-to-Assets	0.0%	0.0%	0.0%	0.0%
Debt-to-Equity	0.00x	0.00x	0.00x	0.00x
Debt-to-EBITDA	0.00x	0.00x	0.00x	0.00x
Equity-to-Assets	89.4%	88.9%	82.3%	91.1%
Net Debt	-191	-95	-151	-192
Cash & Equivalents	191	95	151	192
Total Debt	N/A	N/A	N/A	N/A
Efficiency & working capital
Inventory Turnover	13.81x	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	26.4	N/A	N/A	N/A
Receivables Turnover	13.76x	12.73x	14.35x	23.63x
Days Sales Outstanding (DSO)	26.5	28.7	25.4	15.4
Payables Turnover	70.46x	44.31x	27.79x	36.45x
Days Payable Outstanding (DPO)	5.2	8.2	13.1	10.0
Cash Conversion Cycle	47.8 days	20.4 days	12.3 days	5.4 days
Asset Turnover	3.03x	4.70x	4.02x	3.97x
Cash flow & dividends
Operating Cash Flow	34	-96	56	42
Free Cash Flow (OCF − Capex proxy)	34	-96	56	42
Cash Conversion (OCF / EBITDA)	8.3%	-43.3%	197.9%	3.0%
Dividends Declared	N/A	N/A	N/A	N/A
Dividend Payout Ratio	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