Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	33.7%	33.8%	36.9%	33.8%	32.0%	38.7%	35.3%
EBITDA Margin	12.1%	21.9%	26.8%	23.1%	21.6%	27.0%	20.9%
EBITDAR	596	1,305	1,835	1,842	2,325	2,881	2,278
EBITDAR Margin	12.7%	22.8%	27.8%	24.0%	22.4%	28.4%	23.4%
EBIT Margin	11.7%	21.5%	26.5%	22.9%	21.4%	26.8%	20.6%
Net Profit Margin	9.6%	19.3%	22.0%	18.3%	17.5%	23.4%	16.0%
Operating Expense % of Sales	21.6%	11.9%	10.1%	10.7%	10.3%	11.7%	14.5%
Returns
Return on Assets (ROA)	20.5%	36.6%	32.5%	28.4%	31.5%	32.8%	14.0%
Return on Equity (ROE)	29.9%	51.7%	47.6%	36.7%	38.1%	39.8%	25.8%
ROIC [EBIT / Invested Capital]	32.9%	55.4%	55.2%	50.2%	56.1%	82.6%	22.4%
Leverage & liquidity
Debt-to-Assets	22.4%	16.6%	19.2%	7.3%	0.0%	0.3%	34.0%
Debt-to-Equity	0.33x	0.23x	0.28x	0.09x	0.00x	0.00x	0.63x
Debt-to-EBITDA	0.87x	0.40x	0.48x	0.20x	0.00x	0.01x	1.87x
Equity-to-Assets	68.5%	70.9%	68.2%	77.3%	82.7%	82.2%	54.2%
Net Debt	156	89	117	-332	-799	-2,665	2,903
Cash & Equivalents	337	409	739	693	799	2,690	884
Total Debt	494	499	856	361	N/A	25	3,787
Efficiency & working capital
Inventory Turnover	N/A	3.12x	3.05x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	117.2	119.8	N/A	N/A	N/A	N/A
Receivables Turnover	8.77x	7.46x	6.34x	6.97x	7.57x	7.30x	5.74x
Days Sales Outstanding (DSO)	41.6	48.9	57.5	52.4	48.2	50.0	63.6
Payables Turnover	152.22x	91.65x	81.53x	52.37x	41.37x	24.98x	29.86x
Days Payable Outstanding (DPO)	2.4	4.0	4.5	7.0	8.8	14.6	12.2
Cash Conversion Cycle	39.2 days	162.1 days	172.9 days	45.4 days	39.4 days	35.4 days	51.4 days
Asset Turnover	2.12x	1.90x	1.48x	1.55x	1.80x	1.40x	0.87x
Cash flow & dividends
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow (OCF − Capex proxy)	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash Conversion (OCF / EBITDA)	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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