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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 28,651 · FY2023 46,697 · FY2024 24,022 — 3-yr total 99,370
One of Georgia's largest online betting and casino operators, owned by Stoiximan/Kaizen Gaming group. Offers sports betting, casino and poker through europebet.com and a network of retail betting shops.
| Ratio | 2022 | 2023 | 2024 |
|---|---|---|---|
| Margins | |||
| Gross Margin | 73.9% | 73.8% | 73.0% |
| EBITDA Margin | 48.3% | 44.8% | 43.9% |
| EBITDAR | 73,272 | 73,867 | 73,259 |
| EBITDAR Margin | 48.3% | 44.8% | 43.9% |
| EBIT Margin | 44.3% | 41.0% | 40.5% |
| Net Profit Margin | 22.1% | 22.2% | 23.5% |
| Operating Expense % of Sales | 27.4% | 29.0% | 29.0% |
| Returns | |||
| Return on Assets (ROA) | 69.5% | 116.5% | 89.2% |
| Return on Equity (ROE) | 198.7% | 538.1% | 187.6% |
| ROIC [EBIT / Invested Capital] | 588.4% | 604.5% | 532.4% |
| Leverage & debt balances | |||
| Debt-to-Assets | 35.6% | 43.6% | 22.1% |
| Debt-to-Equity | 1.02x | 2.01x | 0.46x |
| Debt-to-EBITDA | 0.23x | 0.19x | 0.13x |
| Equity-to-Assets | 35.0% | 21.6% | 47.5% |
| Net Debt | -5,417 | 4,355 | -8,181 |
| Cash & Equivalents | 22,552 | 9,374 | 17,874 |
| Total Debt | 17,135 | 13,729 | 9,693 |
| Liquidity & working capital | |||
| Current Ratio | 1.86x | 0.74x | 1.63x |
| Quick Ratio | 1.85x | 0.73x | 1.60x |
| Cash Ratio | 1.36x | 0.39x | 1.14x |
| Total Current Assets | 30,918 | 17,744 | 25,521 |
| Total Current Liabilities | 16,641 | 23,871 | 15,670 |
| Inventory | 135 | 280 | 512 |
| Trade Receivables | 3,691 | 4,166 | 3,847 |
| Trade Payables | 3,076 | 3,277 | 4,333 |
| Net Working Capital | 14,277 | -6,127 | 9,851 |
| Net Working Capital % of Revenue | 9.4% | -3.7% | 5.9% |
| Trade Working Capital | 750 | 1,169 | 26 |
| Trade Working Capital % of Revenue | 0.5% | 0.7% | 0.0% |
| Change in Trade Working Capital | N/A | 419 | -1,143 |
| Turnover & efficiency | |||
| Inventory Turnover | 293.17x | 154.32x | 88.06x |
| Days Inventory Outstanding (DIO) | 1.2 | 2.4 | 4.1 |
| Receivables Turnover | 41.11x | 39.57x | 43.36x |
| Days Sales Outstanding (DSO) | 8.9 | 9.2 | 8.4 |
| Payables Turnover | 12.87x | 13.19x | 10.41x |
| Days Payable Outstanding (DPO) | 28.4 | 27.7 | 35.1 |
| Cash Conversion Cycle | -18.2 days | -16.1 days | -22.5 days |
| Asset Turnover | 3.15x | 5.24x | 3.80x |
| Cash flow & dividends | |||
| Operating Cash Flow | 39,044 | 35,903 | 35,461 |
| Free Cash Flow (OCF − Capex proxy) | 32,899 | 35,503 | 35,418 |
| Cash Conversion (OCF / EBITDA) | 53.3% | 48.6% | 48.4% |
| Dividends Declared | 28,651 | 46,697 | 24,022 |
| Dividend Payout Ratio | 85.6% | 127.4% | 61.4% |
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.
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.
Ownership & directors from companyinfo.ge (public corporate registry).
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