Ratio	2017	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	7.3%	7.6%	6.4%	6.8%	7.3%	5.7%	5.3%	6.2%
EBITDA Margin	6.1%	6.0%	4.7%	5.2%	3.6%	4.3%	3.7%	4.3%
EBITDAR	491	462	425	395	321	402	277	317
EBITDAR Margin	6.8%	6.7%	5.4%	5.8%	4.1%	4.9%	4.4%	5.2%
EBIT Margin	6.1%	6.0%	4.7%	5.2%	3.6%	4.3%	3.7%	4.3%
Net Profit Margin	6.0%	6.0%	4.7%	5.2%	3.6%	3.8%	2.1%	4.2%
Operating Expense % of Sales	1.3%	1.5%	1.7%	1.6%	3.7%	1.3%	1.6%	1.8%
Returns
Return on Assets (ROA)	22.0%	17.1%	14.5%	14.1%	10.9%	15.2%	7.8%	11.8%
Return on Equity (ROE)	25.8%	21.2%	18.6%	17.8%	15.0%	16.5%	9.4%	15.4%
ROIC [EBIT / Invested Capital]	112.1%	167.2%	N/A	N/A	N/A	106.3%	211.4%	265.2%
Leverage & debt balances
Debt-to-Assets	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Debt-to-Equity	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
Debt-to-EBITDA	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
Equity-to-Assets	85.1%	80.7%	78.2%	79.3%	72.9%	92.3%	83.1%	76.5%
Net Debt	-1,298	-1,703	-2,198	-2,064	-1,874	-1,542	-1,339	-1,546
Cash & Equivalents	1,298	1,703	2,198	2,064	1,874	1,542	1,339	1,546
Total Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Liquidity & working capital
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Quick Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Current Assets	1,485	0	0	0	0	0	0	0
Total Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Inventory	N/A	N/A	223	352	N/A	N/A	N/A	N/A
Trade Receivables	188	123	130	64	122	98	151	130
Trade Payables	296	468	557	513	693	157	294	504
Net Working Capital	1,485	0	0	0	0	0	0	0
Net Working Capital % of Revenue	20.5%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Trade Working Capital	-108	-345	-203	-97	-571	-59	-144	-374
Trade Working Capital % of Revenue	-1.5%	-5.0%	-2.6%	-1.4%	-7.3%	-0.7%	-2.3%	-6.1%
Change in Trade Working Capital	N/A	-236	141	106	-474	512	-84	-230
Turnover & efficiency
Inventory Turnover	N/A	N/A	32.89x	17.93x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	N/A	11.1	20.4	N/A	N/A	N/A	N/A
Receivables Turnover	38.57x	55.85x	60.27x	105.03x	64.43x	83.63x	42.13x	46.89x
Days Sales Outstanding (DSO)	9.5	6.5	6.1	3.5	5.7	4.4	8.7	7.8
Payables Turnover	22.66x	13.60x	13.20x	12.29x	10.49x	49.08x	20.40x	11.36x
Days Payable Outstanding (DPO)	16.1	26.8	27.7	29.7	34.8	7.4	17.9	32.1
Cash Conversion Cycle	-6.6 days	-20.3 days	-10.5 days	-5.9 days	-29.1 days	-3.1 days	-9.2 days	-24.3 days
Asset Turnover	3.65x	2.84x	3.08x	2.73x	3.06x	4.02x	3.64x	2.84x
Cash flow & dividends
Operating Cash Flow	268	405	495	-134	-189	-333	-203	207
Free Cash Flow (OCF − Capex proxy)	268	405	495	-134	-189	-333	-203	207
Cash Conversion (OCF / EBITDA)	60.9%	97.8%	133.6%	-38.3%	-67.7%	-94.1%	-86.4%	78.3%
Dividends Declared	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividend Payout Ratio	N/A	N/A	N/A	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