Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	18.3%	18.1%	18.3%	20.2%	18.1%	20.7%	20.4%
EBITDA Margin	9.6%	12.4%	13.4%	12.9%	8.9%	11.5%	12.2%
EBITDAR	273	384	447	525	372	510	597
EBITDAR Margin	10.2%	12.9%	13.8%	13.4%	9.6%	11.9%	12.7%
EBIT Margin	8.6%	11.4%	12.5%	11.3%	7.3%	11.1%	9.8%
Net Profit Margin	9.2%	11.4%	13.6%	12.8%	7.3%	11.1%	9.8%
Operating Expense % of Sales	8.6%	5.8%	5.0%	7.3%	9.2%	9.2%	8.2%
Returns
Return on Assets (ROA)	12.3%	13.1%	14.4%	14.3%	9.1%	12.9%	11.4%
Return on Equity (ROE)	19.7%	21.3%	14.6%	14.4%	9.2%	13.4%	11.5%
ROIC [EBIT / Invested Capital]	19.3%	22.3%	13.7%	13.0%	9.4%	16.3%	13.7%
Leverage & liquidity
Debt-to-Assets	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Debt-to-Equity	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
Debt-to-EBITDA	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
Equity-to-Assets	62.6%	61.5%	99.0%	99.4%	99.6%	96.5%	99.7%
Net Debt	-56	-72	-74	-103	-70	-632	-661
Cash & Equivalents	56	72	74	103	70	632	661
Total Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Efficiency & working capital
Inventory Turnover	1.91x	1.60x	1.51x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	190.6	228.6	241.7	N/A	N/A	N/A	N/A
Receivables Turnover	362.07x	238.04x	70.48x	13.06x	71.49x	256.08x	14.73x
Days Sales Outstanding (DSO)	1.0	1.5	5.2	28.0	5.1	1.4	24.8
Payables Turnover	2.93x	2.43x	95.78x	240.71x	300.89x	27.76x	N/A
Days Payable Outstanding (DPO)	124.5	149.9	3.8	1.5	1.2	13.1	N/A
Cash Conversion Cycle	67.2 days	80.2 days	243.1 days	26.4 days	3.9 days	-11.7 days	24.8 days
Asset Turnover	1.34x	1.14x	1.06x	1.12x	1.26x	1.16x	1.17x
Cash flow & dividends
Operating Cash Flow	-8	16	2	30	-33	561	5,567
Free Cash Flow (OCF − Capex proxy)	-8	16	2	30	-33	561	5,567
Cash Conversion (OCF / EBITDA)	-3.1%	4.3%	0.5%	5.9%	-9.5%	113.3%	968.9%
Dividends Declared	0	0	N/A	N/A	N/A	N/A	N/A
Dividend Payout Ratio	0.0%	0.0%	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