Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	67.4%	63.9%	28.6%	21.1%	18.9%	18.1%	19.6%
EBITDA Margin	13.8%	11.7%	15.6%	3.4%	5.1%	1.4%	-0.4%
EBITDAR	670	477	886	195	355	112	-39
EBITDAR Margin	13.8%	11.7%	15.6%	3.4%	5.1%	1.4%	-0.4%
EBIT Margin	8.6%	5.4%	15.6%	3.4%	5.1%	1.4%	-0.4%
Net Profit Margin	8.1%	5.0%	15.4%	3.9%	5.1%	1.4%	-0.4%
Operating Expense % of Sales	53.7%	52.2%	13.1%	17.6%	13.8%	16.7%	20.0%
Returns
Return on Assets (ROA)	18.4%	9.5%	29.1%	6.8%	10.0%	2.8%	-1.0%
Return on Equity (ROE)	19.2%	10.0%	33.5%	9.7%	12.9%	3.9%	-1.4%
ROIC [EBIT / Invested Capital]	20.7%	11.2%	38.3%	8.6%	13.7%	3.8%	-1.2%
Leverage & liquidity
Debt-to-Assets	0.0%	0.0%	0.0%	0.0%	0.0%	7.1%	12.3%
Debt-to-Equity	0.00x	0.00x	0.00x	0.00x	0.00x	0.10x	0.18x
Debt-to-EBITDA	0.00x	0.00x	0.00x	0.00x	0.00x	2.51x	N/A
Equity-to-Assets	96.0%	95.6%	87.0%	70.5%	77.5%	72.3%	69.0%
Net Debt	-24	-88	-303	-35	-145	108	465
Cash & Equivalents	24	88	303	35	145	172	38
Total Debt	N/A	N/A	N/A	N/A	N/A	280	503
Efficiency & working capital
Inventory Turnover	N/A	6.45x	32.72x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	56.6	11.2	N/A	N/A	N/A	N/A
Receivables Turnover	8.67x	9.01x	7.59x	3.91x	6.09x	7.77x	11.01x
Days Sales Outstanding (DSO)	42.1	40.5	48.1	93.3	59.9	47.0	33.2
Payables Turnover	101.40x	20.89x	12.51x	5.90x	7.42x	11.12x	16.72x
Days Payable Outstanding (DPO)	3.6	17.5	29.2	61.9	49.2	32.8	21.8
Cash Conversion Cycle	38.5 days	79.7 days	30.1 days	31.4 days	10.7 days	14.1 days	11.3 days
Asset Turnover	2.27x	1.90x	1.90x	1.75x	1.98x	1.99x	2.45x
Cash flow & dividends
Operating Cash Flow	-30	64	214	-268	111	27	-134
Free Cash Flow (OCF − Capex proxy)	-30	64	214	-268	111	27	-134
Cash Conversion (OCF / EBITDA)	-4.5%	13.4%	24.2%	-137.5%	31.2%	24.0%	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