Ratio	2020	2021	2022	2023	2024
Margins
Gross Margin	93.2%	9.0%	1.5%	13.3%	-5.3%
EBITDA Margin	92.8%	6.4%	-15.1%	9.7%	-11.8%
EBITDAR	11,766	174	-38	522	-587
EBITDAR Margin	92.8%	6.4%	-15.1%	9.7%	-11.8%
EBIT Margin	92.8%	6.4%	-15.1%	9.7%	-11.8%
Net Profit Margin	97.5%	7.4%	-13.1%	9.6%	-11.5%
Operating Expense % of Sales	0.4%	2.5%	16.5%	3.6%	6.5%
Returns
Return on Assets (ROA)	97.9%	1.6%	-0.3%	3.6%	-4.3%
Return on Equity (ROE)	98.0%	1.6%	-0.3%	3.9%	-4.5%
ROIC [EBIT / Invested Capital]	93.5%	1.4%	-0.3%	4.1%	-4.7%
Leverage & liquidity
Debt-to-Assets	0.0%	0.0%	0.4%	0.1%	0.0%
Debt-to-Equity	0.00x	0.00x	0.00x	0.00x	0.00x
Debt-to-EBITDA	0.00x	0.00x	N/A	0.03x	N/A
Equity-to-Assets	100.0%	99.5%	99.3%	92.0%	94.8%
Net Debt	-30	-2	-58	-654	-273
Cash & Equivalents	30	2	115	671	277
Total Debt	N/A	N/A	57	17	4
Efficiency & working capital
Inventory Turnover	150.20x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	2.4	N/A	N/A	N/A	N/A
Receivables Turnover	1.01x	0.21x	0.02x	0.42x	0.40x
Days Sales Outstanding (DSO)	360.9	1698.1	18109.3	863.3	908.0
Payables Turnover	769.15x	42.96x	13.95x	45.73x	7.61x
Days Payable Outstanding (DPO)	0.5	8.5	26.2	8.0	48.0
Cash Conversion Cycle	362.8 days	1689.6 days	18083.2 days	855.3 days	860.0 days
Asset Turnover	1.00x	0.21x	0.02x	0.37x	0.37x
Cash flow & dividends
Operating Cash Flow	2	-23	112	556	-394
Free Cash Flow (OCF − Capex proxy)	116	-23	112	556	-394
Cash Conversion (OCF / EBITDA)	0.0%	-12.9%	N/A	106.6%	N/A
Dividends Declared	N/A	N/A	N/A	N/A	N/A
Dividend Payout Ratio	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