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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2021 0 · FY2022 0 · FY2023 0
Operates in Healthcare Services — In-patient & out-patient services. Per the activity note to the FY2023 annual report, the company operates a hospital network providing in-patient and out-patient healthcare services in Tbilisi.
| Ratio | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|
| Margins | ||||
| Gross Margin | 100.0% | 100.0% | 71.9% | 73.8% |
| EBITDA Margin | -52.7% | -15.9% | -0.3% | -2.8% |
| EBITDAR | -177 | -848 | -113 | -1,378 |
| EBITDAR Margin | -52.7% | -15.9% | -0.3% | -2.8% |
| EBIT Margin | -52.7% | -73.3% | -15.8% | -13.1% |
| Net Profit Margin | -52.5% | -76.3% | -13.3% | -18.3% |
| Operating Expense % of Sales | 152.7% | 116.3% | 73.7% | 78.0% |
| Returns | ||||
| Return on Assets (ROA) | -80.4% | -12.2% | -16.1% | -34.7% |
| Return on Equity (ROE) | N/A | -264.9% | -581.8% | N/A |
| ROIC [EBIT / Invested Capital] | N/A | -13.9% | -27.6% | -47.0% |
| Leverage & debt balances | ||||
| Debt-to-Assets | 0.0% | 80.1% | 67.7% | 85.8% |
| Debt-to-Equity | -0.00x | 17.44x | 24.40x | -2.80x |
| Debt-to-EBITDA | N/A | N/A | N/A | N/A |
| Equity-to-Assets | -36.3% | 4.6% | 2.8% | -30.7% |
| Net Debt | -3 | 26,522 | 24,912 | 21,814 |
| Cash & Equivalents | 3 | 257 | 353 | 621 |
| Total Debt | N/A | 26,779 | 25,266 | 22,435 |
| Liquidity & working capital | ||||
| Current Ratio | 0.02x | 0.17x | 0.31x | 0.37x |
| Quick Ratio | 0.02x | 0.05x | 0.17x | 0.26x |
| Cash Ratio | 0.02x | 0.02x | 0.02x | 0.02x |
| Total Current Assets | 3 | 1,955 | 7,035 | 9,634 |
| Total Current Liabilities | 202 | 11,364 | 22,847 | 25,848 |
| Inventory | N/A | 1,388 | 3,167 | 2,844 |
| Trade Receivables | N/A | 310 | 5,533 | 6,170 |
| Trade Payables | 202 | 5,132 | 11,043 | 11,723 |
| Net Working Capital | -199 | -9,410 | -15,813 | -16,214 |
| Net Working Capital % of Revenue | -59.1% | -176.6% | -34.9% | -32.8% |
| Trade Working Capital | -202 | -3,434 | -2,343 | -2,710 |
| Trade Working Capital % of Revenue | -60.0% | -64.5% | -5.2% | -5.5% |
| Change in Trade Working Capital | N/A | -3,232 | 1,091 | -367 |
| Turnover & efficiency | ||||
| Inventory Turnover | N/A | N/A | 4.01x | 4.55x |
| Days Inventory Outstanding (DIO) | N/A | N/A | 90.9 | 80.2 |
| Receivables Turnover | N/A | 17.21x | 8.18x | 8.01x |
| Days Sales Outstanding (DSO) | N/A | 21.2 | 44.6 | 45.6 |
| Payables Turnover | N/A | N/A | 1.15x | 1.10x |
| Days Payable Outstanding (DPO) | N/A | N/A | 317.0 | 330.7 |
| Cash Conversion Cycle | N/A | 21.2 days | -181.5 days | -205.0 days |
| Asset Turnover | 1.53x | 0.16x | 1.21x | 1.89x |
| Cash flow & dividends | ||||
| Operating Cash Flow | 123 | 2,012 | 863 | -205 |
| Free Cash Flow (OCF − Capex proxy) | -94 | -5,741 | -1,560 | -2,716 |
| Cash Conversion (OCF / EBITDA) | N/A | N/A | N/A | N/A |
| Dividends Declared | 0 | 0 | 0 | 0 |
| 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 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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