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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 0 · FY2024 0
Tourism / hospitality investment company in Adjara.
Subsidiary of Shezghuduli Pasukhismgeblobis Sazogadoeba HESTOK LIMITED (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 30.7% | 31.7% | 43.7% | 15.3% | 44.3% | 46.5% | 38.6% | 44.8% |
| EBITDA Margin | -10.2% | 31.7% | 34.0% | -6.7% | 66.0% | 45.0% | 26.3% | 35.1% |
| EBITDAR | -2,455 | 10,212 | 17,077 | -949 | 20,187 | 21,743 | 7,733 | 15,357 |
| EBITDAR Margin | -10.2% | 31.7% | 34.0% | -6.7% | 66.0% | 45.0% | 26.3% | 35.1% |
| EBIT Margin | -10.2% | 31.7% | 34.0% | 74.4% | 136.4% | 15.2% | 26.3% | 46.0% |
| Net Profit Margin | -178.3% | -156.1% | -26.7% | -487.4% | 336.9% | 87.6% | 24.1% | 14.2% |
| Operating Expense % of Sales | 40.9% | 0.0% | 9.7% | 22.0% | 21.7% | 1.6% | 12.3% | 9.7% |
| Returns | ||||||||
| Return on Assets (ROA) | -21.2% | -36.0% | -11.4% | -55.4% | 71.7% | 35.3% | 6.2% | 5.5% |
| Return on Equity (ROE) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| ROIC [EBIT / Invested Capital] | -1.3% | 8.8% | 17.4% | 9.6% | 31.0% | 6.6% | 7.3% | 19.6% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 141.4% | 196.2% | 229.4% | 280.5% | 189.3% | 172.5% | 169.2% | 166.0% |
| Debt-to-Equity | -2.88x | -1.76x | -1.59x | -1.46x | -2.00x | -2.22x | -2.25x | -2.34x |
| Debt-to-EBITDA | N/A | 26.89x | 15.80x | N/A | 13.46x | 9.53x | 25.03x | 12.15x |
| Equity-to-Assets | -49.2% | -111.7% | -144.3% | -192.1% | -94.4% | -77.6% | -75.3% | -71.1% |
| Net Debt | 285,264 | 272,533 | 267,889 | 347,710 | 270,046 | 203,737 | 192,046 | 182,718 |
| Cash & Equivalents | 3,075 | 2,055 | 1,961 | 622 | 1,702 | 3,450 | 1,512 | 3,941 |
| Total Debt | 288,339 | 274,588 | 269,850 | 348,332 | 271,748 | 207,187 | 193,558 | 186,659 |
| Liquidity & working capital | ||||||||
| Current Ratio | 3.30x | 1.92x | 1.66x | 1.43x | 1.15x | 1.11x | 0.84x | 1.04x |
| Quick Ratio | 0.49x | 0.25x | 0.26x | 0.06x | 0.22x | 0.34x | 0.16x | 0.37x |
| Cash Ratio | 0.16x | 0.08x | 0.09x | 0.03x | 0.07x | 0.16x | 0.06x | 0.25x |
| Total Current Assets | 61,537 | 48,205 | 35,373 | 27,450 | 29,760 | 24,548 | 19,925 | 16,612 |
| Total Current Liabilities | 18,657 | 25,106 | 21,288 | 19,256 | 25,931 | 22,058 | 23,651 | 16,004 |
| Inventory | 52,383 | 41,879 | 29,905 | 26,381 | 24,103 | 16,976 | 16,039 | 10,676 |
| Trade Receivables | 6,079 | 4,271 | 3,507 | 447 | 1,568 | 1,587 | 2,374 | 1,995 |
| Trade Payables | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Working Capital | 42,880 | 23,099 | 14,085 | 8,194 | 3,829 | 2,490 | -3,726 | 608 |
| Net Working Capital % of Revenue | 177.3% | 71.7% | 28.1% | 58.0% | 12.5% | 5.1% | -12.7% | 1.4% |
| Trade Working Capital | 58,462 | 46,150 | 33,412 | 26,828 | 25,671 | 18,563 | 18,413 | 12,671 |
| Trade Working Capital % of Revenue | 241.7% | 143.2% | 66.6% | 189.9% | 83.9% | 38.4% | 62.7% | 28.9% |
| Change in Trade Working Capital | N/A | -12,312 | -12,738 | -6,584 | -1,157 | -7,108 | -150 | -5,742 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 0.32x | 0.53x | 0.94x | 0.45x | 0.71x | 1.52x | 1.12x | 2.26x |
| Days Inventory Outstanding (DIO) | 1141.3 | 694.3 | 386.6 | 804.7 | 516.3 | 239.6 | 324.7 | 161.2 |
| Receivables Turnover | 3.98x | 7.55x | 14.31x | 31.60x | 19.50x | 30.48x | 12.38x | 21.95x |
| Days Sales Outstanding (DSO) | 91.8 | 48.4 | 25.5 | 11.5 | 18.7 | 12.0 | 29.5 | 16.6 |
| Payables Turnover | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Days Payable Outstanding (DPO) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash Conversion Cycle | 1233.0 days | 742.7 days | 412.1 days | 816.3 days | 535.0 days | 251.5 days | 354.1 days | 177.9 days |
| Asset Turnover | 0.12x | 0.23x | 0.43x | 0.11x | 0.21x | 0.40x | 0.26x | 0.39x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 2,804 | 11,050 | 19,107 | -1,461 | 16,648 | 26,845 | 9,935 | 23,259 |
| Free Cash Flow (OCF − Capex proxy) | 2,804 | 10,107 | 18,043 | -1,597 | 19,315 | 28,840 | 11,582 | 22,383 |
| Cash Conversion (OCF / EBITDA) | N/A | 108.2% | 111.9% | N/A | 82.5% | 123.5% | 128.5% | 151.5% |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | N/A | N/A | N/A | N/A | 0.0% | 0.0% | 0.0% | 0.0% |
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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