Ratio	2020	2021	2022	2023	2024
Margins
Gross Margin	13.7%	16.1%	9.4%	21.7%	17.6%
EBITDA Margin	11.9%	15.8%	8.6%	17.9%	9.7%
EBITDAR	362	1,348	1,170	1,399	855
EBITDAR Margin	11.9%	15.8%	8.7%	18.0%	10.2%
EBIT Margin	11.7%	15.5%	8.5%	17.8%	9.5%
Net Profit Margin	4.2%	15.2%	7.7%	17.1%	8.5%
Operating Expense % of Sales	1.9%	0.4%	0.8%	3.8%	7.9%
Returns
Return on Assets (ROA)	8.3%	33.4%	25.4%	26.8%	12.7%
Return on Equity (ROE)	109.5%	98.5%	55.7%	45.2%	19.7%
ROIC [EBIT / Invested Capital]	46.4%	78.2%	65.2%	50.3%	26.7%
Leverage & liquidity
Debt-to-Assets	46.3%	17.9%	14.7%	6.0%	0.8%
Debt-to-Equity	6.09x	0.53x	0.32x	0.10x	0.01x
Debt-to-EBITDA	1.99x	0.52x	0.51x	0.21x	0.05x
Equity-to-Assets	7.6%	33.9%	45.6%	59.3%	64.6%
Net Debt	651	380	-87	-190	-640
Cash & Equivalents	70	317	679	486	682
Total Debt	721	697	591	295	42
Efficiency & working capital
Inventory Turnover	3.78x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	96.6	N/A	N/A	N/A	N/A
Receivables Turnover	7.92x	9.79x	9.28x	3.92x	5.36x
Days Sales Outstanding (DSO)	46.1	37.3	39.3	93.1	68.1
Payables Turnover	4.25x	10.09x	16.92x	4.50x	5.74x
Days Payable Outstanding (DPO)	85.8	36.2	21.6	81.1	63.6
Cash Conversion Cycle	56.9 days	1.1 days	17.8 days	12.1 days	4.5 days
Asset Turnover	1.96x	2.20x	3.32x	1.57x	1.50x
Cash flow & dividends
Operating Cash Flow	2,961	10,553	1,185	641	N/A
Free Cash Flow (OCF − Capex proxy)	232	2,167	196	-187	N/A
Cash Conversion (OCF / EBITDA)	817.1%	782.7%	102.6%	46.1%	N/A
Dividends Declared	N/A	N/A	N/A	N/A	N/A
Dividend Payout Ratio	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