Ratio	2021	2022	2023	2024
Margins
Gross Margin	46.2%	22.8%	16.0%	35.3%
EBITDA Margin	36.0%	10.9%	-6.2%	24.1%
EBITDAR	1,020	332	-98	940
EBITDAR Margin	36.0%	11.7%	-5.1%	24.7%
EBIT Margin	35.6%	10.5%	-7.1%	22.8%
Net Profit Margin	34.2%	7.8%	-2.3%	19.5%
Operating Expense % of Sales	10.1%	11.9%	22.1%	11.2%
Returns
Return on Assets (ROA)	52.9%	11.7%	-2.1%	26.1%
Return on Equity (ROE)	66.4%	13.7%	-2.9%	37.3%
ROIC [EBIT / Invested Capital]	94.6%	22.7%	-9.1%	51.1%
Leverage & liquidity
Debt-to-Assets	0.0%	0.2%	1.7%	0.4%
Debt-to-Equity	0.00x	0.00x	0.02x	0.01x
Debt-to-EBITDA	0.00x	0.01x	N/A	0.01x
Equity-to-Assets	79.7%	85.9%	70.2%	70.0%
Net Debt	-394	-313	-32	-295
Cash & Equivalents	394	317	70	306
Total Debt	N/A	4	38	11
Efficiency & working capital
Inventory Turnover	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	N/A	N/A	N/A
Receivables Turnover	4.27x	7.42x	3.55x	4.91x
Days Sales Outstanding (DSO)	85.4	49.2	102.7	74.3
Payables Turnover	1846.96x	35.12x	98.89x	159.18x
Days Payable Outstanding (DPO)	0.2	10.4	3.7	2.3
Cash Conversion Cycle	85.2 days	38.8 days	99.0 days	72.0 days
Asset Turnover	1.55x	1.51x	0.88x	1.34x
Cash flow & dividends
Operating Cash Flow	N/A	N/A	N/A	N/A
Free Cash Flow (OCF − Capex proxy)	N/A	N/A	N/A	N/A
Cash Conversion (OCF / EBITDA)	N/A	N/A	N/A	N/A
Dividends Declared	N/A	N/A	N/A	N/A
Dividend Payout Ratio	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 ₾ '000. Margins, returns and payout are percentages; turnover and leverage are multiples; DIO/DSO/DPO are days. Hover a metric name for its definition.

Ownership & group structure

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.

companyinfo.ge · fetched 2026-07-15