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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 0 · FY2023 241 · FY2024 3,968 — 3-yr total 4,209
Georgian construction / road-building company. Limited public information available beyond the Reportal filing.
Subsidiary of GI Capital (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 29.6% | 29.9% | 9.7% | 14.4% | -8.7% | 3.0% | 6.3% | 11.1% |
| EBITDA Margin | 23.7% | 26.5% | 8.4% | 14.0% | -26.9% | -11.9% | -13.5% | -2.5% |
| EBITDAR | 8,296 | 10,043 | 3,965 | 6,959 | -7,075 | -3,167 | -4,337 | -2,448 |
| EBITDAR Margin | 23.7% | 26.5% | 8.4% | 14.0% | -26.9% | -11.9% | -13.5% | -2.5% |
| EBIT Margin | 23.7% | 26.5% | 8.4% | 14.0% | -26.9% | -11.9% | -13.5% | -2.5% |
| Net Profit Margin | 23.4% | 25.9% | 12.2% | 6.4% | -30.3% | 4.7% | -19.3% | -1.1% |
| Operating Expense % of Sales | 5.9% | 3.4% | 3.3% | 2.5% | 22.5% | 15.4% | 25.1% | 14.3% |
| Returns | ||||||||
| Return on Assets (ROA) | 23.4% | 24.9% | 10.7% | 5.6% | -15.0% | 1.9% | -4.9% | -0.6% |
| Return on Equity (ROE) | 69.9% | 53.2% | 20.1% | 13.0% | -50.3% | 6.2% | -61.9% | -21.5% |
| ROIC [EBIT / Invested Capital] | 60.5% | 42.3% | 8.6% | 15.5% | -16.4% | -6.9% | -17.5% | -23.9% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 8.2% | 14.0% | 32.7% | 39.0% | 51.9% | 40.5% | 19.4% | 5.5% |
| Debt-to-Equity | 0.24x | 0.30x | 0.61x | 0.91x | 1.74x | 1.33x | 2.44x | 2.01x |
| Debt-to-EBITDA | 0.34x | 0.55x | 4.44x | 3.18x | N/A | N/A | N/A | N/A |
| Equity-to-Assets | 33.5% | 46.9% | 53.4% | 42.8% | 29.9% | 30.5% | 8.0% | 2.7% |
| Net Debt | 2,012 | 5,350 | 17,387 | 20,752 | 27,413 | 26,213 | 14,781 | 5,294 |
| Cash & Equivalents | 846 | 137 | 214 | 1,346 | 66 | 347 | 9,769 | 4,613 |
| Total Debt | 2,858 | 5,488 | 17,601 | 22,098 | 27,478 | 26,559 | 24,550 | 9,907 |
| Liquidity & working capital | ||||||||
| Current Ratio | 1.28x | 1.80x | 2.46x | 1.97x | 1.22x | 1.07x | 0.50x | 0.60x |
| Quick Ratio | 0.63x | 0.97x | 1.13x | 1.37x | 0.56x | 0.44x | 0.21x | 0.30x |
| Cash Ratio | 0.04x | 0.01x | 0.03x | 0.11x | 0.00x | 0.01x | 0.10x | 0.03x |
| Total Current Assets | 25,979 | 30,229 | 20,841 | 24,456 | 22,833 | 33,252 | 49,912 | 101,496 |
| Total Current Liabilities | 20,357 | 16,778 | 8,455 | 12,407 | 18,773 | 31,210 | 99,241 | 168,184 |
| Inventory | 13,196 | 13,893 | 11,267 | 7,436 | 12,368 | 19,434 | 29,071 | 51,019 |
| Trade Receivables | 11,938 | 16,194 | 9,300 | 12,611 | 8,653 | 12,814 | 9,616 | 40,346 |
| Trade Payables | 8,487 | 14,138 | 5,746 | 7,877 | 8,218 | 17,610 | 91,345 | 162,643 |
| Net Working Capital | 5,623 | 13,451 | 12,386 | 12,050 | 4,060 | 2,042 | -49,329 | -66,688 |
| Net Working Capital % of Revenue | 16.1% | 35.5% | 26.2% | 24.3% | 15.5% | 7.7% | -153.1% | -69.2% |
| Trade Working Capital | 16,646 | 15,948 | 14,821 | 12,170 | 12,803 | 14,638 | -52,659 | -71,277 |
| Trade Working Capital % of Revenue | 47.6% | 42.1% | 31.3% | 24.6% | 48.7% | 54.9% | -163.4% | -73.9% |
| Change in Trade Working Capital | N/A | -698 | -1,128 | -2,651 | 633 | 1,835 | -67,297 | -18,619 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 1.87x | 1.91x | 3.79x | 5.70x | 2.31x | 1.33x | 1.04x | 1.68x |
| Days Inventory Outstanding (DIO) | 195.5 | 191.2 | 96.2 | 64.0 | 158.0 | 274.1 | 351.3 | 217.2 |
| Receivables Turnover | 2.93x | 2.34x | 5.09x | 3.93x | 3.04x | 2.08x | 3.35x | 2.39x |
| Days Sales Outstanding (DSO) | 124.5 | 156.2 | 71.7 | 92.9 | 120.2 | 175.4 | 108.9 | 152.8 |
| Payables Turnover | 2.90x | 1.88x | 7.44x | 5.38x | 3.48x | 1.47x | 0.33x | 0.53x |
| Days Payable Outstanding (DPO) | 125.8 | 194.5 | 49.1 | 67.8 | 105.0 | 248.4 | 1104.0 | 692.4 |
| Cash Conversion Cycle | 194.2 days | 152.8 days | 118.9 days | 89.1 days | 173.2 days | 201.1 days | -643.7 days | -322.5 days |
| Asset Turnover | 1.00x | 0.96x | 0.88x | 0.87x | 0.50x | 0.41x | 0.26x | 0.54x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 5,538 | -1,049 | 6,196 | 10,188 | -3,395 | -4,842 | 24,676 | 32,083 |
| Free Cash Flow (OCF − Capex proxy) | 5,538 | -1,049 | 1,971 | 7,400 | -4,264 | -5,014 | 17,911 | 22,479 |
| Cash Conversion (OCF / EBITDA) | 66.8% | -10.4% | 156.3% | 146.4% | N/A | N/A | N/A | N/A |
| Dividends Declared | 2,616 | 2,699 | 1,105 | 2,945 | 1,105 | 0 | 241 | 3,968 |
| Dividend Payout Ratio | 32.0% | 27.6% | 19.1% | 93.2% | N/A | 0.0% | N/A | N/A |
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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