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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Operates in Power & Utilities. Per the activity note to the FY2024 annual report, the company generates electricity from renewable energy sources, particularly solar power.
| Ratio | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Margins | ||||
| Gross Margin | 25.2% | 23.0% | 32.8% | 36.7% |
| EBITDA Margin | 18.7% | 14.3% | 23.5% | 14.5% |
| EBITDAR | 979 | 1,243 | 3,155 | 2,093 |
| EBITDAR Margin | 18.7% | 14.3% | 23.5% | 14.7% |
| EBIT Margin | 18.6% | 14.1% | 23.2% | 13.7% |
| Net Profit Margin | 18.1% | 14.5% | 22.9% | 16.1% |
| Operating Expense % of Sales | 6.5% | 8.6% | 9.3% | 22.2% |
| Returns | ||||
| Return on Assets (ROA) | 41.6% | 37.4% | 49.3% | 18.2% |
| Return on Equity (ROE) | 57.3% | 43.4% | 55.5% | 29.4% |
| ROIC [EBIT / Invested Capital] | 125.9% | 68.6% | 143.5% | 112.2% |
| Leverage & debt balances | ||||
| Debt-to-Assets | 0.0% | 0.0% | 0.0% | 10.0% |
| Debt-to-Equity | 0.00x | 0.00x | 0.00x | 0.16x |
| Debt-to-EBITDA | 0.00x | 0.00x | 0.00x | 0.61x |
| Equity-to-Assets | 72.6% | 86.1% | 88.9% | 61.8% |
| Net Debt | -881 | -1,103 | -3,362 | -6,045 |
| Cash & Equivalents | 881 | 1,103 | 3,362 | 7,305 |
| Total Debt | N/A | N/A | N/A | 1,260 |
| Liquidity & working capital | ||||
| Current Ratio | 3.64x | 7.48x | 10.07x | 3.56x |
| Quick Ratio | 3.64x | 7.48x | 10.07x | 3.56x |
| Cash Ratio | 1.41x | 2.46x | 5.44x | 2.07x |
| Total Current Assets | 2,278 | 3,357 | 6,222 | 12,598 |
| Total Current Liabilities | 625 | 449 | 618 | 3,536 |
| Inventory | N/A | N/A | N/A | N/A |
| Trade Receivables | 97 | 306 | 163 | 213 |
| Trade Payables | 80 | 152 | 116 | 405 |
| Net Working Capital | 1,653 | 2,909 | 5,604 | 9,062 |
| Net Working Capital % of Revenue | 31.6% | 33.6% | 41.8% | 63.6% |
| Trade Working Capital | 17 | 153 | 48 | -192 |
| Trade Working Capital % of Revenue | 0.3% | 1.8% | 0.4% | -1.3% |
| Change in Trade Working Capital | N/A | 136 | -105 | -239 |
| Turnover & efficiency | ||||
| Inventory Turnover | N/A | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | N/A | N/A | N/A |
| Receivables Turnover | 53.77x | 28.36x | 82.14x | 66.93x |
| Days Sales Outstanding (DSO) | 6.8 | 12.9 | 4.4 | 5.5 |
| Payables Turnover | 48.78x | 43.78x | 77.93x | 22.28x |
| Days Payable Outstanding (DPO) | 7.5 | 8.3 | 4.7 | 16.4 |
| Cash Conversion Cycle | -0.7 days | 4.5 days | -0.2 days | -10.9 days |
| Asset Turnover | 2.30x | 2.58x | 2.16x | 1.13x |
| Cash flow & dividends | ||||
| Operating Cash Flow | 585 | 172 | 16,196 | 19,511 |
| Free Cash Flow (OCF − Capex proxy) | 585 | 172 | 2,731 | 3,987 |
| Cash Conversion (OCF / EBITDA) | 59.8% | 13.8% | 513.8% | 944.3% |
| 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 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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