Ratio	2017	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	27.9%	28.0%	25.7%	26.2%	23.8%	25.8%	28.6%	28.1%
EBITDA Margin	11.7%	11.7%	11.9%	10.9%	12.6%	15.0%	16.2%	14.1%
EBITDAR	309	349	438	395	639	937	892	787
EBITDAR Margin	13.2%	13.2%	13.3%	12.4%	13.7%	15.8%	17.1%	15.0%
EBIT Margin	11.6%	11.7%	11.9%	9.9%	12.2%	14.8%	15.8%	13.4%
Net Profit Margin	11.7%	11.7%	11.9%	10.0%	12.3%	15.3%	15.8%	13.4%
Operating Expense % of Sales	16.2%	16.2%	13.9%	15.3%	11.2%	10.8%	12.4%	14.0%
Returns
Return on Assets (ROA)	35.1%	32.9%	30.6%	22.3%	34.2%	37.9%	29.3%	23.0%
Return on Equity (ROE)	36.1%	34.8%	31.6%	23.1%	34.6%	38.6%	29.4%	23.2%
ROIC [EBIT / Invested Capital]	50.3%	53.0%	36.4%	29.2%	44.1%	45.8%	39.1%	28.0%
Leverage & liquidity
Debt-to-Assets	0.0%	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	0.00x
Debt-to-EBITDA	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
Equity-to-Assets	97.4%	94.5%	97.0%	96.6%	98.9%	98.4%	99.7%	99.1%
Net Debt	-221	-306	-164	-295	-366	-438	-684	-515
Cash & Equivalents	221	306	164	295	366	438	684	515
Total Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Efficiency & working capital
Inventory Turnover	N/A	N/A	5.47x	4.60x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	N/A	66.7	79.4	N/A	N/A	N/A	N/A
Receivables Turnover	43.52x	41.30x	39.79x	45.32x	98.68x	155.27x	101.36x	51.16x
Days Sales Outstanding (DSO)	8.4	8.8	9.2	8.1	3.7	2.4	3.6	7.1
Payables Turnover	151.69x	270.10x	149.05x	171.87x	462.73x	130.93x	466.88x	220.70x
Days Payable Outstanding (DPO)	2.4	1.4	2.4	2.1	0.8	2.8	0.8	1.7
Cash Conversion Cycle	6.0 days	7.5 days	73.5 days	85.3 days	2.9 days	-0.4 days	2.8 days	5.5 days
Asset Turnover	2.99x	2.80x	2.58x	2.24x	2.78x	2.49x	1.86x	1.72x
Cash flow & dividends
Operating Cash Flow	85	84	-136	132	6,482	8,471	6,252	6,240
Free Cash Flow (OCF − Capex proxy)	85	84	-136	132	69	41	251	-169
Cash Conversion (OCF / EBITDA)	31.2%	27.3%	-34.8%	37.8%	1097.8%	948.8%	739.8%	846.0%
Dividends Declared	N/A	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	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