Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	19.4%	14.3%	17.8%	18.1%	22.3%	16.2%	17.4%
EBITDA Margin	16.6%	11.8%	15.7%	15.4%	19.8%	13.9%	14.1%
EBITDAR	945	735	1,151	912	1,208	1,075	1,212
EBITDAR Margin	17.5%	12.7%	16.4%	16.5%	20.9%	14.9%	15.2%
EBIT Margin	16.6%	11.8%	15.7%	15.4%	19.8%	13.8%	14.1%
Net Profit Margin	16.6%	11.8%	15.7%	13.5%	16.6%	12.3%	11.5%
Operating Expense % of Sales	2.8%	2.5%	2.1%	2.7%	2.5%	2.4%	3.2%
Returns
Return on Assets (ROA)	30.9%	19.5%	34.5%	19.4%	23.2%	21.3%	24.9%
Return on Equity (ROE)	44.1%	25.1%	34.5%	19.9%	26.2%	22.8%	25.5%
ROIC [EBIT / Invested Capital]	55.6%	34.5%	46.5%	27.7%	41.1%	32.5%	40.2%
Leverage & debt balances
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	70.2%	77.6%	100.0%	97.1%	88.7%	93.4%	97.9%
Net Debt	-420	-748	-830	-681	-880	-820	-800
Cash & Equivalents	420	748	830	681	880	820	800
Total Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Liquidity & working capital
Current Ratio	0.99x	1.00x	1.00x	1.00x	1.00x	1.00x	1.00x
Quick Ratio	0.99x	0.68x	0.73x	1.00x	1.00x	1.00x	1.00x
Cash Ratio	0.15x	0.21x	0.26x	0.18x	0.21x	0.20x	0.22x
Total Current Assets	2,879	3,536	3,189	3,861	4,122	4,158	3,681
Total Current Liabilities	2,895	3,549	3,200	3,861	4,122	4,164	3,687
Inventory	N/A	1,132	852	N/A	N/A	N/A	N/A
Trade Receivables	952	1,408	1,331	1,568	1,558	1,762	1,643
Trade Payables	178	N/A	N/A	80	N/A	123	16
Net Working Capital	-16	-12	-11	0	0	-6	-6
Net Working Capital % of Revenue	-0.3%	-0.2%	-0.2%	0.0%	0.0%	-0.1%	-0.1%
Trade Working Capital	774	2,541	2,183	1,488	1,558	1,639	1,627
Trade Working Capital % of Revenue	14.4%	44.1%	31.0%	26.9%	27.0%	22.7%	20.3%
Change in Trade Working Capital	N/A	1,767	-358	-694	70	80	-12
Turnover & efficiency
Inventory Turnover	N/A	4.36x	6.79x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	83.7	53.8	N/A	N/A	N/A	N/A
Receivables Turnover	5.66x	4.10x	5.29x	3.53x	3.70x	4.10x	4.87x
Days Sales Outstanding (DSO)	64.5	89.1	69.1	103.5	98.6	89.1	75.0
Payables Turnover	24.35x	N/A	N/A	56.96x	N/A	49.17x	405.27x
Days Payable Outstanding (DPO)	15.0	N/A	N/A	6.4	N/A	7.4	0.9
Cash Conversion Cycle	49.5 days	172.8 days	122.8 days	97.1 days	98.6 days	81.7 days	74.1 days
Asset Turnover	1.86x	1.65x	2.20x	1.43x	1.40x	1.73x	2.17x
Cash flow & dividends
Operating Cash Flow	-316	327	82	-149	199	-61	-19
Free Cash Flow (OCF − Capex proxy)	-316	327	82	-149	199	-61	-19
Cash Conversion (OCF / EBITDA)	-35.3%	48.0%	7.5%	-17.4%	17.4%	-6.1%	-1.7%
Dividends Declared	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

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