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Dividends declared (per SOCE filings): FY2022 9,000 · FY2023 4,040 · FY2024 5,000 — 3-yr total 18,040
Georgian Railway-affiliated transit/logistics operator handling cross-border freight transit through Georgia.
Subsidiary of Georgian Railway (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 32.9% | 24.2% | 7.8% | 7.6% | 5.1% | 6.4% | 6.4% | 8.3% |
| EBITDA Margin | 31.4% | -1.6% | -33.5% | 7.1% | 2.9% | 4.6% | 4.2% | 6.2% |
| EBITDAR | 33,191 | -1,216 | -21,705 | 5,937 | 3,247 | 6,766 | 5,210 | 8,488 |
| EBITDAR Margin | 31.7% | -1.6% | -33.5% | 7.1% | 2.9% | 4.6% | 4.2% | 6.2% |
| EBIT Margin | 31.4% | -1.6% | -33.5% | 7.1% | 2.9% | 4.6% | 4.2% | 6.2% |
| Net Profit Margin | 24.9% | 0.1% | -28.1% | 9.6% | 0.9% | 1.9% | 3.1% | 5.8% |
| Operating Expense % of Sales | 1.5% | 25.7% | 41.3% | 0.5% | 2.3% | 1.8% | 2.2% | 2.1% |
| Returns | ||||||||
| Return on Assets (ROA) | 61.8% | 0.2% | -76.8% | 24.1% | 2.9% | 9.8% | 13.5% | 26.7% |
| Return on Equity (ROE) | 65.0% | 0.2% | -87.7% | 27.9% | 3.4% | 12.0% | 16.4% | 30.0% |
| ROIC [EBIT / Invested Capital] | 82.8% | -3.2% | -142.7% | 27.0% | 15.2% | 38.5% | 29.7% | 37.4% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Debt-to-Equity | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Debt-to-EBITDA | 0.00x | N/A | N/A | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Equity-to-Assets | 95.1% | 88.8% | 87.5% | 86.3% | 85.2% | 81.2% | 82.7% | 89.1% |
| Net Debt | -383 | -1,240 | -5,585 | -6,825 | -8,509 | -6,141 | -6,022 | -3,782 |
| Cash & Equivalents | 383 | 1,240 | 5,585 | 6,825 | 8,509 | 6,141 | 6,022 | 3,782 |
| Total Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Liquidity & working capital | ||||||||
| Current Ratio | 12.91x | 8.89x | 8.01x | 7.27x | 6.89x | 5.33x | 5.77x | 9.16x |
| Quick Ratio | 12.91x | 8.89x | 8.01x | 7.27x | 6.89x | 5.33x | 5.77x | 9.16x |
| Cash Ratio | 0.19x | 0.25x | 1.89x | 1.49x | 1.67x | 1.12x | 1.23x | 1.17x |
| Total Current Assets | 26,438 | 43,901 | 23,712 | 33,404 | 35,046 | 29,193 | 28,363 | 29,638 |
| Total Current Liabilities | 2,048 | 4,940 | 2,961 | 4,595 | 5,085 | 5,481 | 4,913 | 3,235 |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Trade Receivables | 23,576 | 21,878 | 14 | 3,277 | 3,019 | 461 | 1,005 | 2,773 |
| Trade Payables | 2,048 | 4,688 | 2,714 | 4,595 | 5,085 | 4,934 | 4,860 | 3,213 |
| Net Working Capital | 24,390 | 38,961 | 20,751 | 28,809 | 29,961 | 23,712 | 23,450 | 26,403 |
| Net Working Capital % of Revenue | 23.3% | 50.9% | 32.0% | 34.2% | 26.6% | 16.0% | 18.9% | 19.3% |
| Trade Working Capital | 21,528 | 17,190 | -2,700 | -1,318 | -2,066 | -4,473 | -3,855 | -440 |
| Trade Working Capital % of Revenue | 20.6% | 22.5% | -4.2% | -1.6% | -1.8% | -3.0% | -3.1% | -0.3% |
| Change in Trade Working Capital | N/A | -4,338 | -19,890 | 1,382 | -748 | -2,407 | 618 | 3,415 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Receivables Turnover | 4.44x | 3.50x | 4631.86x | 25.68x | 37.37x | 321.63x | 123.44x | 49.24x |
| Days Sales Outstanding (DSO) | 82.2 | 104.4 | 0.1 | 14.2 | 9.8 | 1.1 | 3.0 | 7.4 |
| Payables Turnover | 34.26x | 12.37x | 22.03x | 16.92x | 21.05x | 28.14x | 23.89x | 38.95x |
| Days Payable Outstanding (DPO) | 10.7 | 29.5 | 16.6 | 21.6 | 17.3 | 13.0 | 15.3 | 9.4 |
| Cash Conversion Cycle | 71.6 days | 74.9 days | -16.5 days | -7.4 days | -7.6 days | -11.8 days | -12.3 days | -2.0 days |
| Asset Turnover | 2.49x | 1.74x | 2.73x | 2.52x | 3.22x | 5.08x | 4.36x | 4.59x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 3,507 | 647 | 4,118 | 296 | 1,753 | 7,881 | 3,763 | 2,141 |
| Free Cash Flow (OCF − Capex proxy) | 3,507 | 669 | 4,194 | 469 | 1,833 | 8,092 | 3,832 | 2,363 |
| Cash Conversion (OCF / EBITDA) | 10.7% | N/A | N/A | 5.0% | 54.0% | 116.5% | 72.2% | 25.2% |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 9,000 | 4,040 | 5,000 |
| Dividend Payout Ratio | 0.0% | 0.0% | N/A | 0.0% | 0.0% | 315.1% | 104.9% | 62.9% |
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.