Ratio	2018	2019	2020	2021
Margins
Gross Margin	7.9%	19.4%	30.2%	24.8%
EBITDA Margin	12.5%	19.3%	13.7%	3.3%
EBITDAR	374	3,325	3,811	1,464
EBITDAR Margin	12.5%	19.3%	13.7%	3.3%
EBIT Margin	12.5%	19.3%	13.7%	3.3%
Net Profit Margin	12.5%	19.2%	18.9%	2.3%
Operating Expense % of Sales	4.6%	0.1%	16.5%	21.5%
Returns
Return on Assets (ROA)	26.4%	71.2%	43.5%	10.2%
Return on Equity (ROE)	100.0%	89.9%	58.9%	10.3%
ROIC [EBIT / Invested Capital]	111.2%	147.9%	54.7%	16.0%
Leverage & liquidity
Debt-to-Assets	0.0%	0.0%	0.0%	0.0%
Debt-to-Equity	0.00x	0.00x	0.00x	0.00x
Debt-to-EBITDA	0.00x	0.00x	0.00x	0.00x
Equity-to-Assets	26.4%	79.2%	73.9%	99.9%
Net Debt	-36	-1,437	-1,990	-861
Cash & Equivalents	36	1,437	1,991	861
Total Debt	N/A	N/A	1	N/A
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	2.18x	5.35x	2.77x	4.92x
Days Sales Outstanding (DSO)	167.7	68.2	131.9	74.1
Payables Turnover	2.66x	14.32x	6.15x	3057.19x
Days Payable Outstanding (DPO)	137.5	25.5	59.3	0.1
Cash Conversion Cycle	30.2 days	42.7 days	72.6 days	74.0 days
Asset Turnover	2.12x	3.70x	2.30x	4.50x
Cash flow & dividends
Operating Cash Flow	N/A	1,398	329	N/A
Free Cash Flow (OCF − Capex proxy)	N/A	1,398	329	N/A
Cash Conversion (OCF / EBITDA)	N/A	42.0%	8.6%	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