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Operates in Construction — Infrastructure & Roads. Per the activity note to the FY2023 annual report, the company carries out road, bridge and highway construction and repair.
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross Margin | 66.8% | 50.0% | 50.5% | 42.3% | 43.7% | 46.3% |
| EBITDA Margin | 5.0% | 17.0% | 16.0% | -5.6% | -8.1% | 7.8% |
| EBITDAR | 658 | 3,249 | 3,116 | -546 | -992 | 1,088 |
| EBITDAR Margin | 5.0% | 17.0% | 16.0% | -5.6% | -8.1% | 7.8% |
| EBIT Margin | 3.4% | 15.7% | 14.5% | -8.6% | -10.8% | 5.3% |
| Net Profit Margin | 5.0% | 15.7% | 16.0% | -8.9% | -11.0% | 5.2% |
| Operating Expense % of Sales | 61.8% | 33.0% | 34.5% | 47.9% | 51.8% | 38.6% |
| Returns | ||||||
| Return on Assets (ROA) | 11.5% | 42.7% | 49.2% | -15.1% | -20.2% | 8.9% |
| Return on Equity (ROE) | 20.0% | 71.5% | 64.9% | -28.7% | -118.2% | 42.0% |
| ROIC [EBIT / Invested Capital] | 21.8% | 83.0% | 61.3% | -24.2% | -67.0% | 35.9% |
| Leverage & debt balances | ||||||
| Debt-to-Assets | 0.0% | 0.0% | 0.0% | 8.7% | 13.5% | 5.0% |
| Debt-to-Equity | 0.00x | 0.00x | 0.00x | 0.16x | 0.79x | 0.24x |
| Debt-to-EBITDA | 0.00x | 0.00x | 0.00x | N/A | N/A | 0.38x |
| Equity-to-Assets | 57.2% | 59.7% | 75.7% | 52.5% | 17.1% | 21.1% |
| Net Debt | -1,203 | -576 | -194 | 464 | 843 | 304 |
| Cash & Equivalents | 1,203 | 576 | 194 | 35 | 55 | 109 |
| Total Debt | N/A | N/A | N/A | 499 | 899 | 413 |
| Liquidity & working capital | ||||||
| Current Ratio | 0.12x | 0.15x | 0.44x | 0.22x | 0.11x | 0.19x |
| Quick Ratio | 0.12x | 0.00x | 0.00x | 0.22x | 0.11x | 0.19x |
| Cash Ratio | 0.49x | 0.20x | 0.13x | 0.02x | 0.01x | 0.02x |
| Total Current Assets | 301 | 428 | 653 | 443 | 462 | 1,107 |
| Total Current Liabilities | 2,446 | 2,818 | 1,485 | 2,033 | 4,320 | 5,688 |
| Inventory | N/A | 428 | 651 | N/A | N/A | N/A |
| Trade Receivables | 2,474 | 3,401 | 2,731 | 2,583 | 2,676 | 3,282 |
| Trade Payables | 2,446 | 2,818 | 1,485 | 2,033 | 4,320 | 5,678 |
| Net Working Capital | -2,145 | -2,389 | -831 | -1,589 | -3,858 | -4,580 |
| Net Working Capital % of Revenue | -16.2% | -12.5% | -4.3% | -16.2% | -31.5% | -32.7% |
| Trade Working Capital | 28 | 1,011 | 1,898 | 550 | -1,644 | -2,397 |
| Trade Working Capital % of Revenue | 0.2% | 5.3% | 9.8% | 5.6% | -13.4% | -17.1% |
| Change in Trade Working Capital | N/A | 983 | 886 | -1,347 | -2,195 | -752 |
| Turnover & efficiency | ||||||
| Inventory Turnover | N/A | 22.29x | 14.77x | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | 16.4 | 24.7 | N/A | N/A | N/A |
| Receivables Turnover | 5.34x | 5.61x | 7.11x | 3.80x | 4.58x | 4.27x |
| Days Sales Outstanding (DSO) | 68.4 | 65.0 | 51.3 | 96.1 | 79.8 | 85.5 |
| Payables Turnover | 1.79x | 3.39x | 6.48x | 2.78x | 1.60x | 1.32x |
| Days Payable Outstanding (DPO) | 203.5 | 107.7 | 56.3 | 131.1 | 228.7 | 275.7 |
| Cash Conversion Cycle | -135.1 days | -26.3 days | 19.7 days | -35.0 days | -148.9 days | -190.2 days |
| Asset Turnover | 2.30x | 2.72x | 3.07x | 1.70x | 1.84x | 1.69x |
| Cash flow & dividends | ||||||
| Operating Cash Flow | 332 | -626 | -383 | -159 | 20 | 54 |
| Free Cash Flow (OCF − Capex proxy) | 332 | -626 | -383 | -159 | 20 | 54 |
| Cash Conversion (OCF / EBITDA) | 50.4% | -19.3% | -12.3% | N/A | N/A | 5.0% |
| Dividends Declared | 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 |
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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