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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 7,363 · FY2023 4,788 · FY2024 3,522 — 3-yr total 15,673
Georgian distribution company. Limited public information available beyond the Reportal filing.
Subsidiary of Smart Capital Production (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 23.6% | 14.6% | 26.4% | 10.8% | 6.5% | 7.4% | 7.0% | 6.6% |
| EBITDA Margin | 22.4% | 12.0% | 24.0% | 8.5% | 4.2% | 4.7% | 3.5% | 2.2% |
| EBITDAR | 18,550 | 11,775 | 18,858 | 12,383 | 6,982 | 8,383 | 4,762 | 2,768 |
| EBITDAR Margin | 22.5% | 12.0% | 24.0% | 8.5% | 4.2% | 4.7% | 3.5% | 2.2% |
| EBIT Margin | 22.3% | 11.9% | 23.9% | 8.5% | 4.1% | 4.5% | 3.3% | 2.0% |
| Net Profit Margin | 18.0% | 10.5% | 21.7% | 8.3% | 5.6% | 6.7% | 4.7% | 3.3% |
| Operating Expense % of Sales | 1.2% | 2.6% | 2.5% | 2.3% | 2.3% | 2.8% | 3.5% | 4.5% |
| Returns | ||||||||
| Return on Assets (ROA) | 183.5% | 98.8% | 119.7% | 146.9% | 93.1% | 92.9% | 51.7% | 26.0% |
| Return on Equity (ROE) | 266.6% | 123.2% | 227.8% | N/A | N/A | N/A | N/A | N/A |
| ROIC [EBIT / Invested Capital] | 624.3% | 379.0% | 328.1% | N/A | N/A | N/A | N/A | N/A |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 0.0% | 0.0% | 0.0% | 2.2% | 2.2% | 1.2% | 0.6% | 1.6% |
| Debt-to-Equity | 0.00x | 0.00x | 0.00x | -0.01x | -0.02x | -0.02x | -0.01x | -0.03x |
| Debt-to-EBITDA | 0.00x | 0.00x | 0.00x | 0.01x | 0.03x | 0.02x | 0.02x | 0.09x |
| Equity-to-Assets | 68.8% | 80.2% | 52.5% | -148.0% | -100.7% | -51.5% | -76.1% | -56.6% |
| Net Debt | -2,629 | -5,279 | -1,750 | -863 | -455 | -1,497 | -1,358 | -723 |
| Cash & Equivalents | 2,629 | 5,279 | 1,750 | 1,043 | 673 | 1,648 | 1,435 | 980 |
| Total Debt | N/A | N/A | N/A | 180 | 218 | 151 | 77 | 257 |
| Liquidity & working capital | ||||||||
| Current Ratio | 3.09x | 4.90x | 2.08x | 1.09x | 1.03x | 1.09x | 1.07x | 0.96x |
| Quick Ratio | 1.57x | 3.71x | 0.62x | 0.90x | 0.77x | 0.83x | 0.80x | 0.64x |
| Cash Ratio | 1.04x | 2.55x | 0.26x | 0.15x | 0.07x | 0.15x | 0.13x | 0.06x |
| Total Current Assets | 7,788 | 10,135 | 13,838 | 7,569 | 9,303 | 12,238 | 11,876 | 15,216 |
| Total Current Liabilities | 2,524 | 2,070 | 6,656 | 6,944 | 9,047 | 11,277 | 11,121 | 15,768 |
| Inventory | 3,825 | 2,458 | 9,695 | 1,350 | 2,357 | 2,844 | 2,957 | 5,185 |
| Trade Receivables | 1,330 | 2,129 | 2,390 | 4,918 | 6,267 | 7,709 | 7,234 | 8,870 |
| Trade Payables | 2,422 | 2,041 | 5,942 | 6,671 | 8,707 | 11,047 | 10,759 | 15,546 |
| Net Working Capital | 5,264 | 8,065 | 7,182 | 625 | 256 | 961 | 755 | -552 |
| Net Working Capital % of Revenue | 6.4% | 8.2% | 9.1% | 0.4% | 0.2% | 0.5% | 0.6% | -0.4% |
| Trade Working Capital | 2,733 | 2,546 | 6,143 | -403 | -83 | -494 | -568 | -1,491 |
| Trade Working Capital % of Revenue | 3.3% | 2.6% | 7.8% | -0.3% | -0.0% | -0.3% | -0.4% | -1.2% |
| Change in Trade Working Capital | N/A | -187 | 3,597 | -6,546 | 320 | -411 | -74 | -923 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 16.49x | 34.15x | 5.97x | 95.92x | 66.26x | 58.66x | 43.03x | 23.09x |
| Days Inventory Outstanding (DIO) | 22.1 | 10.7 | 61.2 | 3.8 | 5.5 | 6.2 | 8.5 | 15.8 |
| Receivables Turnover | 62.05x | 46.17x | 32.89x | 29.53x | 26.66x | 23.38x | 18.90x | 14.46x |
| Days Sales Outstanding (DSO) | 5.9 | 7.9 | 11.1 | 12.4 | 13.7 | 15.6 | 19.3 | 25.2 |
| Payables Turnover | 26.04x | 41.13x | 9.73x | 19.41x | 17.94x | 15.10x | 11.83x | 7.70x |
| Days Payable Outstanding (DPO) | 14.0 | 8.9 | 37.5 | 18.8 | 20.3 | 24.2 | 30.9 | 47.4 |
| Cash Conversion Cycle | 14.0 days | 9.7 days | 34.8 days | -2.6 days | -1.1 days | -2.3 days | -3.1 days | -6.3 days |
| Asset Turnover | 10.19x | 9.41x | 5.52x | 17.67x | 16.75x | 13.94x | 11.06x | 7.98x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 12,378 | 10,659 | 14,454 | 18,269 | 7,003 | 8,674 | 4,687 | 3,517 |
| Free Cash Flow (OCF − Capex proxy) | 12,378 | 10,614 | 14,434 | 18,033 | 6,882 | 8,454 | 4,663 | 3,138 |
| Cash Conversion (OCF / EBITDA) | 67.0% | 90.5% | 76.6% | 147.5% | 100.3% | 103.5% | 98.4% | 127.1% |
| Dividends Declared | 10,821 | 7,963 | 17,932 | 18,693 | 7,159 | 7,363 | 4,788 | 3,522 |
| Dividend Payout Ratio | 72.8% | 77.2% | 105.2% | 154.8% | 77.1% | 61.3% | 74.8% | 84.2% |
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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