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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 325 · FY2023 839 · FY2024 1,764 — 3-yr total 2,928
Subsidiary of Georgian Invest (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| EBITDA Margin | 53.3% | 73.0% | 64.1% | 20.8% | 47.6% | 32.7% | 22.1% | 57.3% |
| EBITDAR | 883 | 1,623 | 1,427 | 430 | 670 | 705 | 611 | 1,474 |
| EBITDAR Margin | 69.6% | 74.9% | 69.6% | 27.9% | 57.2% | 38.7% | 25.6% | 60.4% |
| EBIT Margin | 52.4% | 72.6% | 63.7% | 23.4% | 47.0% | 32.7% | 22.1% | 57.3% |
| Net Profit Margin | 34.1% | 95.5% | 75.9% | 64.3% | 86.4% | 62.8% | 40.4% | 85.3% |
| Operating Expense % of Sales | 46.7% | 27.0% | 35.9% | 79.2% | 52.4% | 67.3% | 77.9% | 42.7% |
| Returns | ||||||||
| Return on Assets (ROA) | 14.1% | 47.3% | 26.1% | 15.0% | 19.8% | 15.1% | 9.4% | 17.4% |
| Return on Equity (ROE) | 32.3% | 65.7% | 34.0% | 19.0% | 26.5% | 24.6% | 19.9% | 46.3% |
| ROIC [EBIT / Invested Capital] | 24.1% | 37.3% | 30.2% | 8.3% | 13.7% | 8.8% | 7.0% | 14.2% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 55.3% | 27.1% | 18.0% | 16.3% | 21.0% | 34.8% | 47.9% | 58.8% |
| Debt-to-Equity | 1.27x | 0.38x | 0.23x | 0.21x | 0.28x | 0.57x | 1.02x | 1.56x |
| Debt-to-EBITDA | 2.51x | 0.75x | 0.82x | 3.35x | 1.93x | 4.40x | 9.35x | 5.02x |
| Equity-to-Assets | 43.7% | 72.0% | 76.8% | 79.2% | 74.8% | 61.5% | 47.1% | 37.7% |
| Net Debt | 1,420 | 1,061 | -265 | -872 | 190 | 2,141 | 2,705 | 5,361 |
| Cash & Equivalents | 276 | 124 | 1,340 | 1,945 | 884 | 479 | 2,243 | 1,657 |
| Total Debt | 1,696 | 1,185 | 1,074 | 1,073 | 1,074 | 2,620 | 4,948 | 7,018 |
| Liquidity & working capital | ||||||||
| Current Ratio | 36.09x | 8.19x | 4.93x | 8.13x | 6.13x | 2.14x | 7.16x | 4.55x |
| Quick Ratio | 36.09x | 8.19x | 4.93x | 8.13x | 6.13x | 2.14x | 7.16x | 4.55x |
| Cash Ratio | 24.57x | 8.19x | 4.93x | 8.13x | 6.13x | 2.14x | 7.16x | 4.55x |
| Total Current Assets | 405 | 124 | 1,340 | 1,945 | 884 | 479 | 2,243 | 1,657 |
| Total Current Liabilities | 11 | 15 | 272 | 239 | 144 | 224 | 313 | 364 |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Trade Receivables | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Trade Payables | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Working Capital | 394 | 109 | 1,068 | 1,706 | 740 | 255 | 1,930 | 1,293 |
| Net Working Capital % of Revenue | 31.1% | 5.0% | 52.1% | 110.9% | 63.2% | 14.0% | 80.7% | 53.0% |
| Trade Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Trade Working Capital % of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Change in Trade Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Turnover & efficiency | ||||||||
| Inventory Turnover | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Receivables Turnover | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Days Sales Outstanding (DSO) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Payables Turnover | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Days Payable Outstanding (DPO) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash Conversion Cycle | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Asset Turnover | 0.41x | 0.50x | 0.34x | 0.23x | 0.23x | 0.24x | 0.23x | 0.20x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | -1,746 | 371 | -690 | 1,119 | 1,353 | 1,061 | -580 | -105 |
| Free Cash Flow (OCF − Capex proxy) | -1,746 | 363 | -794 | 684 | -1,171 | -1,951 | -566 | -105 |
| Cash Conversion (OCF / EBITDA) | -258.3% | 23.5% | -52.6% | 349.6% | 242.7% | 178.1% | -109.6% | -7.5% |
| Dividends Declared | 273 | 0 | 498 | 435 | 2,524 | 325 | 839 | 1,764 |
| Dividend Payout Ratio | 63.1% | 0.0% | 32.0% | 44.0% | 249.5% | 28.5% | 86.8% | 84.7% |
Money rows — EBITDAR, net debt, cash, total debt, operating and free cash flow, dividends declared — are in GEL, thousands. Margins, returns and payout are percentages; turnover and leverage are multiples; DIO/DSO/DPO are days. Hover a metric name for its definition.
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.
Ownership & directors from companyinfo.ge (public corporate registry).
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