* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 0 · FY2023 450 · FY2024 500 — 3-yr total 950
Tbilisi Green School (მწვანე სკოლა) campus — part of Green School, the affordable-segment K-12 school network in Georgia Capital PLC's (LSE: CGEO) education business (~80-90%, acquired 2019 and expanded in 2023).
Subsidiary of Georgian Education Group (88.5%)
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | CAGR |
|---|---|---|---|---|---|---|---|---|
| 3,038 | 3,858 | 3,787 | 4,672 | 6,097 | 7,777 | 9,128 | +20.1% | |
| Total COGS | 45 | 25 | 0 | 0 | 0 | 0 | 0 | -44.4% |
| Gross Profit | 2,993 | 3,833 | 3,787 | 4,672 | 6,097 | 7,777 | 9,128 | +20.4% |
| Gross Margin | 98.5% | 99.4% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | |
| 2,133 | 2,778 | 2,458 | 3,117 | 4,102 | 5,492 | 6,336 | +19.9% | |
| EBITDA | 860 | 1,055 | 1,329 | 1,555 | 1,995 | 2,285 | 2,792 | +21.7% |
| EBITDA Margin | 28.3% | 27.3% | 35.1% | 33.3% | 32.7% | 29.4% | 30.6% | |
| Total D&A | 70 | 96 | 134 | 156 | 238 | 276 | 323 | +29.0% |
| EBIT / Operating Income | 790 | 959 | 1,195 | 1,399 | 1,757 | 2,009 | 2,469 | +20.9% |
| Total Interest Income | 5 | 7 | 30 | 50 | 75 | 89 | 149 | +76.1% |
| Total Interest Expense | 206 | 310 | 318 | 325 | 314 | 379 | 366 | +10.1% |
| Total Other Income | 109 | 265 | 1,068 | 681 | 903 | 125 | 42 | nmf |
| Profit Before Tax | 480 | 391 | 161 | 1,805 | 2,421 | 1,594 | 2,294 | +29.8% |
| Total Income Tax | 33 | 13 | 0 | 0 | 0 | 16 | 18 | -9.6% |
| Net Profit / (Loss) | 430 | 355 | 190 | 1,805 | 2,381 | 1,578 | 2,276 | +32.0% |
| Net Margin | 14.2% | 9.2% | 5.0% | 38.6% | 39.1% | 20.3% | 24.9% |
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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