Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	48.2%	72.2%	72.0%	71.3%	70.5%	70.7%	72.1%
EBITDA Margin	28.9%	-36.9%	2.4%	30.3%	-5.5%	-23.9%	37.4%
EBITDAR	953	-219	49	554	-111	-410	2,997
EBITDAR Margin	29.8%	-32.2%	7.1%	30.3%	-5.5%	-23.9%	37.4%
EBIT Margin	28.6%	-38.1%	0.9%	28.3%	-7.3%	-26.3%	36.7%
Net Profit Margin	28.3%	-42.4%	-11.3%	26.1%	-17.4%	-29.4%	37.6%
Operating Expense % of Sales	19.3%	109.1%	69.7%	41.0%	76.0%	94.6%	34.7%
Returns
Return on Assets (ROA)	81.2%	-31.7%	-3.6%	28.3%	-17.6%	-18.4%	81.1%
Return on Equity (ROE)	102.2%	-48.3%	-15.0%	48.1%	-54.8%	-369.0%	95.7%
ROIC [EBIT / Invested Capital]	584.9%	-1357.5%	4.0%	66.9%	-231.5%	N/A	198.8%
Leverage & liquidity
Debt-to-Assets	13.0%	8.9%	28.6%	29.0%	16.6%	8.7%	3.5%
Debt-to-Equity	0.16x	0.13x	1.21x	0.49x	0.52x	1.74x	0.04x
Debt-to-EBITDA	0.16x	N/A	38.59x	0.88x	N/A	N/A	0.04x
Equity-to-Assets	79.5%	65.6%	23.7%	58.8%	32.1%	5.0%	84.8%
Net Debt	-729	-578	-368	-220	-578	-694	-1,670
Cash & Equivalents	873	659	991	710	910	932	1,800
Total Debt	145	81	623	489	333	238	130
Efficiency & working capital
Inventory Turnover	N/A	0.91x	0.91x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	400.4	399.3	N/A	N/A	N/A	N/A
Receivables Turnover	285.29x	104.84x	3.77x	N/A	4285.00x	9.66x	14.73x
Days Sales Outstanding (DSO)	1.3	3.5	96.8	N/A	0.1	37.8	24.8
Payables Turnover	21.31x	0.97x	0.18x	3.08x	0.58x	0.21x	5.79x
Days Payable Outstanding (DPO)	17.1	375.9	1973.3	118.5	624.2	1720.8	63.0
Cash Conversion Cycle	-15.8 days	28.0 days	-1477.2 days	-118.5 days	-624.1 days	-1683.0 days	-38.3 days
Asset Turnover	2.87x	0.75x	0.32x	1.08x	1.01x	0.62x	2.16x
Cash flow & dividends
Operating Cash Flow	N/A	-121	757	-104	563	257	1,388
Free Cash Flow (OCF − Capex proxy)	N/A	-124	-152	-125	487	171	1,180
Cash Conversion (OCF / EBITDA)	N/A	N/A	4688.4%	-18.8%	N/A	N/A	46.3%
Dividends Declared	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

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