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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 0 · FY2023 0 · FY2024 0
Georgian IT / system integration company.
Subsidiary of Pan European Fashion Group (100.0%)
| Ratio | 2018 | 2019 | 2020 | 2021 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross Margin | 33.1% | 30.6% | 19.8% | 45.2% | 45.0% | 30.7% |
| EBITDA Margin | 0.0% | 11.8% | -36.8% | 15.7% | 1.0% | -2.1% |
| EBITDAR | 684 | 2,056 | -2,246 | 1,834 | 148 | -352 |
| EBITDAR Margin | 7.5% | 16.5% | -29.3% | 23.4% | 1.0% | -2.1% |
| EBIT Margin | -2.3% | 11.4% | -37.0% | 15.1% | 1.0% | -2.1% |
| Net Profit Margin | -0.2% | 7.0% | -36.8% | 21.9% | -9.0% | -4.4% |
| Operating Expense % of Sales | 33.1% | 18.8% | 56.6% | 29.5% | 46.3% | 35.3% |
| Returns | ||||||
| Return on Assets (ROA) | -0.5% | 20.3% | -81.5% | 34.0% | -9.0% | -4.1% |
| Return on Equity (ROE) | N/A | N/A | N/A | N/A | -374.7% | -17.4% |
| ROIC [EBIT / Invested Capital] | -16.7% | 119.4% | N/A | 779.1% | 1.8% | -3.1% |
| Leverage & debt balances | ||||||
| Debt-to-Assets | 243.3% | 228.6% | 284.3% | 180.8% | 57.7% | 44.9% |
| Debt-to-Equity | -1.17x | -1.20x | -1.04x | -1.21x | 23.99x | 1.91x |
| Debt-to-EBITDA | 3129.59x | 6.66x | N/A | 7.40x | 56.30x | N/A |
| Equity-to-Assets | -208.3% | -191.3% | -272.9% | -149.3% | 2.4% | 23.5% |
| Net Debt | 10,022 | 9,381 | 9,287 | 7,695 | 7,782 | 7,044 |
| Cash & Equivalents | 221 | 411 | 567 | 1,440 | 548 | 1,064 |
| Total Debt | 10,243 | 9,792 | 9,854 | 9,135 | 8,330 | 8,108 |
| Liquidity & working capital | ||||||
| Current Ratio | 1.40x | 1.60x | 1.13x | 1.46x | 0.88x | 1.12x |
| Quick Ratio | 1.40x | 0.84x | 0.49x | 0.66x | 0.34x | 0.58x |
| Cash Ratio | 0.08x | 0.15x | 0.18x | 0.42x | 0.04x | 0.08x |
| Total Current Assets | 3,834 | 4,283 | 3,466 | 5,052 | 11,534 | 15,420 |
| Total Current Liabilities | 2,736 | 2,685 | 3,070 | 3,459 | 13,071 | 13,816 |
| Inventory | N/A | 2,015 | 1,954 | 2,764 | 7,091 | 7,449 |
| Trade Receivables | 1,129 | 1,462 | 532 | 310 | 2,026 | 5,258 |
| Trade Payables | 2,732 | 2,668 | 3,066 | 3,411 | 5,758 | 5,708 |
| Net Working Capital | 1,098 | 1,598 | 396 | 1,592 | -1,536 | 1,604 |
| Net Working Capital % of Revenue | 12.0% | 12.8% | 5.2% | 20.3% | -10.6% | 9.7% |
| Trade Working Capital | -1,603 | 810 | -581 | -337 | 3,360 | 6,999 |
| Trade Working Capital % of Revenue | -17.5% | 6.5% | -7.6% | -4.3% | 23.3% | 42.1% |
| Change in Trade Working Capital | N/A | 2,413 | -1,390 | 244 | N/A | 3,639 |
| Turnover & efficiency | ||||||
| Inventory Turnover | N/A | 4.28x | 3.15x | 1.55x | 1.12x | 1.55x |
| Days Inventory Outstanding (DIO) | N/A | 85.2 | 115.9 | 235.0 | 326.5 | 236.2 |
| Receivables Turnover | 8.11x | 8.51x | 14.43x | 25.27x | 7.12x | 3.16x |
| Days Sales Outstanding (DSO) | 45.0 | 42.9 | 25.3 | 14.4 | 51.3 | 115.5 |
| Payables Turnover | 2.24x | 3.24x | 2.01x | 1.26x | 1.38x | 2.02x |
| Days Payable Outstanding (DPO) | 163.0 | 112.8 | 181.9 | 290.0 | 265.0 | 181.0 |
| Cash Conversion Cycle | -118.0 days | 15.3 days | -40.7 days | -40.6 days | 112.7 days | 170.8 days |
| Asset Turnover | 2.17x | 2.90x | 2.21x | 1.55x | 1.00x | 0.92x |
| Cash flow & dividends | ||||||
| Operating Cash Flow | -991 | 1,245 | 772 | 1,218 | -2,612 | -3,029 |
| Free Cash Flow (OCF − Capex proxy) | -991 | 1,199 | 761 | 1,206 | -3,523 | -3,526 |
| Cash Conversion (OCF / EBITDA) | -30289.4% | 84.7% | N/A | 98.7% | -1765.3% | N/A |
| Dividends Declared | N/A | N/A | N/A | N/A | 0 | 0 |
| Dividend Payout Ratio | 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 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).
Ranked by how close each latest revenue is to this one — not a curated comp set.