HeidelbergCement Georgia (შპს ჰაიდელბერგცემენტ ჯორჯია)

panel 2026-09-21Ask

as filed · GEL, thousands

financial ratiosXLSX

Ratio	2017	2018	2019	2020	2021	2022	2023
Margins
Gross Margin	13.4%	14.5%	29.4%	28.0%	31.2%	32.3%	32.9%
EBITDA Margin	3.5%	2.2%	15.9%	17.1%	20.9%	21.6%	21.5%
EBITDAR	9,823	6,242	52,483	62,153	86,950	110,976	121,531
EBITDAR Margin	3.5%	2.2%	15.9%	17.1%	20.9%	21.6%	21.5%
EBIT Margin	3.5%	2.2%	15.9%	15.7%	20.9%	21.6%	21.5%
Net Profit Margin	-0.3%	-0.9%	7.8%	-3.0%	22.5%	25.2%	17.0%
Operating Expense % of Sales	9.9%	12.3%	14.2%	11.8%	11.5%	11.6%	11.7%
Returns
Return on Assets (ROA)	-0.2%	-0.5%	5.0%	-2.0%	18.2%	22.4%	15.7%
Return on Equity (ROE)	-0.4%	-1.2%	11.1%	-4.9%	31.4%	30.4%	20.6%
ROIC [EBIT / Invested Capital]	3.0%	1.5%	12.0%	12.5%	19.5%	25.5%	24.7%
Leverage & debt balances
Debt-to-Assets	32.0%	42.7%	43.7%	47.7%	35.1%	17.2%	13.3%
Debt-to-Equity	0.64x	1.00x	0.98x	1.15x	0.61x	0.23x	0.17x
Debt-to-EBITDA	13.51x	32.83x	4.30x	4.05x	2.07x	0.90x	0.67x
Equity-to-Assets	50.1%	42.7%	44.7%	41.6%	57.8%	73.6%	76.5%
Net Debt	124,795	203,755	208,467	235,743	148,852	9,840	24,730
Cash & Equivalents	7,897	1,139	17,159	16,132	31,552	89,897	56,369
Total Debt	132,692	204,894	225,626	251,875	180,404	99,737	81,099
Liquidity & working capital
Current Ratio	1.25x	0.75x	0.90x	0.92x	0.99x	1.94x	2.45x
Quick Ratio	0.72x	0.16x	0.33x	0.30x	0.47x	1.26x	1.33x
Cash Ratio	0.11x	0.01x	0.19x	0.15x	0.32x	1.03x	0.94x
Total Current Assets	92,825	59,505	82,448	98,560	99,463	169,104	146,691
Total Current Liabilities	74,304	79,748	91,845	107,265	100,029	87,230	59,775
Inventory	39,576	46,436	52,138	66,742	52,027	58,910	67,470
Trade Receivables	7,548	7,535	7,948	9,118	9,534	9,963	11,885
Trade Payables	27,521	31,091	33,358	36,702	22,308	34,695	31,190
Net Working Capital	18,521	-20,243	-9,397	-8,705	-566	81,874	86,916
Net Working Capital % of Revenue	6.6%	-7.1%	-2.8%	-2.4%	-0.1%	15.9%	15.4%
Trade Working Capital	19,603	22,880	26,728	39,158	39,253	34,178	48,165
Trade Working Capital % of Revenue	7.0%	8.0%	8.1%	10.8%	9.5%	6.7%	8.5%
Change in Trade Working Capital	N/A	3,277	3,848	12,430	95	-5,075	13,987
Turnover & efficiency
Inventory Turnover	6.11x	5.28x	4.48x	3.92x	5.49x	5.90x	5.62x
Days Inventory Outstanding (DIO)	59.7	69.2	81.5	93.1	66.5	61.8	65.0
Receivables Turnover	36.98x	38.01x	41.63x	39.84x	43.56x	51.54x	47.51x
Days Sales Outstanding (DSO)	9.9	9.6	8.8	9.2	8.4	7.1	7.7
Payables Turnover	8.79x	7.88x	7.00x	7.13x	12.81x	10.02x	12.15x
Days Payable Outstanding (DPO)	41.5	46.3	52.1	51.2	28.5	36.4	30.0
Cash Conversion Cycle	28.1 days	32.5 days	38.1 days	51.1 days	46.3 days	32.5 days	42.6 days
Asset Turnover	0.67x	0.60x	0.64x	0.69x	0.81x	0.89x	0.92x
Cash flow & dividends
Operating Cash Flow	31,193	19,078	67,515	56,312	97,521	147,985	135,878
Free Cash Flow (OCF − Capex proxy)	31,193	-76,317	12,923	20,412	79,637	115,127	32,477
Cash Conversion (OCF / EBITDA)	317.6%	305.6%	128.6%	90.6%	112.2%	133.3%	111.8%
Dividends Declared	0	0	392	355	134	775	0
Dividend Payout Ratio	N/A	N/A	1.5%	N/A	0.1%	0.6%	0.0%

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.

HeidelbergCement Georgia

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