Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	14.0%	14.9%	20.7%	18.3%	19.7%	20.6%	21.0%
EBITDA Margin	7.5%	6.9%	14.0%	12.0%	11.7%	10.5%	4.5%
EBITDAR	311	343	679	716	859	1,073	581
EBITDAR Margin	8.6%	8.8%	15.4%	13.0%	12.9%	12.2%	6.1%
EBIT Margin	7.2%	6.7%	13.8%	11.8%	11.3%	10.1%	3.8%
Net Profit Margin	4.9%	4.2%	7.5%	13.7%	14.1%	8.2%	1.1%
Operating Expense % of Sales	6.5%	8.0%	6.7%	6.3%	8.0%	10.1%	16.5%
Returns
Return on Assets (ROA)	7.7%	6.0%	10.8%	23.2%	19.2%	10.6%	2.0%
Return on Equity (ROE)	30.0%	15.4%	27.3%	45.2%	43.1%	26.2%	3.6%
ROIC [EBIT / Invested Capital]	16.2%	10.8%	22.5%	25.2%	23.2%	26.9%	14.2%
Leverage & liquidity
Debt-to-Assets	46.7%	50.9%	50.1%	35.1%	39.2%	35.6%	28.6%
Debt-to-Equity	1.81x	1.32x	1.27x	0.68x	0.88x	0.88x	0.51x
Debt-to-EBITDA	3.94x	5.14x	2.49x	1.73x	2.45x	2.65x	3.42x
Equity-to-Assets	25.8%	38.7%	39.4%	51.4%	44.7%	40.3%	56.0%
Net Debt	1,021	1,344	1,485	911	1,067	537	-325
Cash & Equivalents	40	42	55	230	855	1,908	1,789
Total Debt	1,061	1,386	1,540	1,141	1,921	2,445	1,464
Efficiency & working capital
Inventory Turnover	N/A	1.45x	1.32x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	252.5	277.1	N/A	N/A	N/A	N/A
Receivables Turnover	38.86x	38.14x	33.99x	30.43x	15.63x	15.36x	12.10x
Days Sales Outstanding (DSO)	9.4	9.6	10.7	12.0	23.4	23.8	30.2
Payables Turnover	5.01x	11.99x	11.43x	10.92x	7.26x	5.69x	12.94x
Days Payable Outstanding (DPO)	72.9	30.4	31.9	33.4	50.3	64.2	28.2
Cash Conversion Cycle	-63.5 days	231.7 days	255.9 days	-21.4 days	-26.9 days	-40.4 days	2.0 days
Asset Turnover	1.59x	1.43x	1.43x	1.69x	1.36x	1.28x	1.86x
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