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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Operates in Industrial Goods. Per the activity note to the FY2024 annual report, the company manufactures handbags and wallets.
| Ratio | 2022 | 2023 | 2024 |
|---|---|---|---|
| Margins | |||
| Gross Margin | 38.3% | 59.5% | 79.1% |
| EBITDA Margin | -27.8% | -15.3% | 108.8% |
| EBITDAR | -75 | 6 | 400 |
| EBITDAR Margin | -4.9% | 0.4% | 108.8% |
| EBIT Margin | -35.4% | -32.5% | 108.8% |
| Net Profit Margin | -19.8% | -55.2% | 841.5% |
| Operating Expense % of Sales | 66.0% | 74.8% | 29.8% |
| Returns | |||
| Return on Assets (ROA) | -8.5% | -26.5% | N/A |
| Return on Equity (ROE) | N/A | N/A | N/A |
| ROIC [EBIT / Invested Capital] | -18.9% | -21.2% | N/A |
| Leverage & debt balances | |||
| Debt-to-Assets | 154.6% | 202.5% | N/A |
| Debt-to-Equity | -2.11x | -1.60x | -0.80x |
| Debt-to-EBITDA | N/A | N/A | 1.65x |
| Equity-to-Assets | -73.2% | -126.8% | N/A |
| Net Debt | 5,438 | 6,178 | 658 |
| Cash & Equivalents | 32 | 69 | N/A |
| Total Debt | 5,470 | 6,247 | 658 |
| Liquidity & working capital | |||
| Current Ratio | 0.87x | 0.59x | 0.00x |
| Quick Ratio | 0.87x | 0.59x | 0.00x |
| Cash Ratio | 0.04x | 0.08x | 0.00x |
| Total Current Assets | 690 | 505 | N/A |
| Total Current Liabilities | 797 | 856 | 788 |
| Inventory | N/A | N/A | N/A |
| Trade Receivables | 206 | 231 | N/A |
| Trade Payables | 114 | 324 | 129 |
| Net Working Capital | -107 | -352 | -788 |
| Net Working Capital % of Revenue | -7.0% | -23.8% | -214.5% |
| Trade Working Capital | 91 | -92 | -129 |
| Trade Working Capital % of Revenue | 6.0% | -6.2% | -35.2% |
| Change in Trade Working Capital | N/A | -184 | -37 |
| Turnover & efficiency | |||
| Inventory Turnover | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | N/A | N/A |
| Receivables Turnover | 7.41x | 6.39x | N/A |
| Days Sales Outstanding (DSO) | 49.2 | 57.1 | N/A |
| Payables Turnover | 8.23x | 1.85x | 0.59x |
| Days Payable Outstanding (DPO) | 44.3 | 197.2 | 614.0 |
| Cash Conversion Cycle | 4.9 days | -140.0 days | -614.0 days |
| Asset Turnover | 0.43x | 0.48x | N/A |
| Cash flow & dividends | |||
| Operating Cash Flow | -3,416 | -5,672 | 543 |
| Free Cash Flow (OCF − Capex proxy) | -7,053 | -5,677 | 7,002 |
| Cash Conversion (OCF / EBITDA) | N/A | N/A | 135.9% |
| Dividends Declared | N/A | N/A | N/A |
| Dividend Payout Ratio | 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).
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