Ratio	2021	2022	2023	2024
Margins
Gross Margin	17.5%	17.7%	21.4%	17.5%
EBITDA Margin	7.4%	5.1%	6.3%	3.5%
EBITDAR	277	191	171	119
EBITDAR Margin	7.4%	5.1%	6.3%	3.5%
EBIT Margin	7.2%	4.9%	5.9%	3.2%
Net Profit Margin	9.9%	10.0%	4.1%	3.1%
Operating Expense % of Sales	10.1%	12.5%	15.2%	14.0%
Returns
Return on Assets (ROA)	24.1%	24.1%	6.5%	6.0%
Return on Equity (ROE)	N/A	331.0%	50.2%	32.3%
ROIC [EBIT / Invested Capital]	N/A	161.0%	35.6%	20.7%
Leverage & liquidity
Debt-to-Assets	12.8%	11.9%	17.0%	17.1%
Debt-to-Equity	-0.76x	1.63x	1.32x	0.92x
Debt-to-EBITDA	0.71x	0.96x	1.74x	2.58x
Equity-to-Assets	-16.8%	7.3%	12.9%	18.5%
Net Debt	-77	2	231	196
Cash & Equivalents	275	181	67	111
Total Debt	198	183	297	307
Efficiency & working capital
Inventory Turnover	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	N/A	N/A	N/A
Receivables Turnover	12.77x	15.97x	9.91x	12.80x
Days Sales Outstanding (DSO)	28.6	22.9	36.8	28.5
Payables Turnover	1.94x	2.49x	1.78x	2.50x
Days Payable Outstanding (DPO)	188.5	146.6	204.7	146.3
Cash Conversion Cycle	-159.9 days	-123.8 days	-167.9 days	-117.8 days
Asset Turnover	2.44x	2.41x	1.56x	1.91x
Cash flow & dividends
Operating Cash Flow	N/A	N/A	N/A	N/A
Free Cash Flow (OCF − Capex proxy)	N/A	N/A	N/A	N/A
Cash Conversion (OCF / EBITDA)	N/A	N/A	N/A	N/A
Dividends Declared	N/A	N/A	N/A	N/A
Dividend Payout Ratio	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