Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	34.9%	33.6%	35.8%	32.0%	36.7%	34.6%	41.0%
EBITDA Margin	6.1%	8.3%	4.2%	0.7%	7.2%	7.8%	6.5%
EBITDAR	163	258	123	25	331	365	319
EBITDAR Margin	6.1%	8.3%	4.2%	0.7%	7.2%	7.8%	6.5%
EBIT Margin	0.1%	2.7%	-2.1%	-4.0%	3.4%	4.6%	4.6%
Net Profit Margin	2.6%	2.4%	3.8%	0.5%	6.3%	4.4%	3.6%
Operating Expense % of Sales	28.8%	25.3%	31.7%	31.3%	29.5%	26.8%	34.5%
Returns
Return on Assets (ROA)	2.0%	2.1%	3.0%	0.5%	7.3%	4.9%	3.2%
Return on Equity (ROE)	2.3%	2.4%	3.5%	0.6%	9.0%	6.5%	4.8%
ROIC [EBIT / Invested Capital]	0.1%	2.7%	-1.9%	-4.7%	5.0%	6.7%	5.3%
Leverage & liquidity
Debt-to-Assets	5.5%	5.3%	5.1%	5.4%	4.8%	9.8%	17.5%
Debt-to-Equity	0.06x	0.06x	0.06x	0.06x	0.06x	0.13x	0.26x
Debt-to-EBITDA	1.18x	0.75x	1.57x	7.64x	0.58x	1.14x	3.00x
Equity-to-Assets	85.5%	84.2%	84.3%	83.7%	80.9%	74.5%	67.0%
Net Debt	98	26	3	47	-100	102	548
Cash & Equivalents	95	167	190	146	293	314	409
Total Debt	193	193	193	193	193	417	957
Efficiency & working capital
Inventory Turnover	N/A	4.34x	3.28x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	84.1	111.4	N/A	N/A	N/A	N/A
Receivables Turnover	5.68x	4.85x	4.63x	5.85x	6.49x	7.35x	9.97x
Days Sales Outstanding (DSO)	64.3	75.2	78.9	62.4	56.2	49.7	36.6
Payables Turnover	39.34x	25.45x	19.70x	27.44x	12.53x	8.94x	5.93x
Days Payable Outstanding (DPO)	9.3	14.3	18.5	13.3	29.1	40.8	61.5
Cash Conversion Cycle	55.0 days	145.0 days	171.8 days	49.1 days	27.1 days	8.8 days	-24.9 days
Asset Turnover	0.76x	0.85x	0.78x	1.01x	1.15x	1.11x	0.90x
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