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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 1,080 · FY2023 0 · FY2024 422 — 3-yr total 1,502
Georgian hotel management company; operates or manages branded hotel(s) in Georgia. Limited public information available beyond the Reportal filing.
Subsidiary of SRG Real Estate (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 86.6% | 86.4% | 87.2% | 76.7% | 83.5% | 83.6% | 84.0% | 84.0% |
| EBITDA Margin | 33.2% | 13.8% | 36.2% | -30.3% | 3.7% | 10.5% | 9.5% | 6.2% |
| EBITDAR | 33,003 | 24,556 | 20,942 | -2,501 | 11,630 | 22,644 | 24,321 | 22,965 |
| EBITDAR Margin | 60.5% | 40.8% | 36.2% | -19.7% | 29.8% | 36.5% | 35.5% | 32.2% |
| EBIT Margin | 28.5% | 8.7% | 22.2% | -65.7% | -6.5% | 4.0% | 3.0% | -2.3% |
| Net Profit Margin | 12.0% | 5.4% | -23.3% | 77.5% | -5.1% | 2.3% | 7.5% | 1.7% |
| Operating Expense % of Sales | 53.4% | 72.5% | 51.0% | 107.0% | 79.9% | 73.1% | 74.6% | 77.8% |
| Returns | ||||||||
| Return on Assets (ROA) | 5.9% | 2.7% | -5.5% | 16.6% | -3.6% | 2.4% | 12.6% | 2.3% |
| Return on Equity (ROE) | 21.1% | 10.4% | -98.9% | 36.5% | -8.2% | 4.1% | 29.0% | 5.1% |
| ROIC [EBIT / Invested Capital] | 20.2% | 5.8% | 6.0% | -30.4% | -9.5% | 9.7% | 25.2% | -10.4% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 51.3% | 57.2% | 84.9% | 10.0% | 12.0% | 2.3% | 2.5% | 0.5% |
| Debt-to-Equity | 1.84x | 2.23x | 15.38x | 0.22x | 0.28x | 0.04x | 0.06x | 0.01x |
| Debt-to-EBITDA | 3.16x | 8.39x | 10.00x | N/A | 4.68x | 0.21x | 0.16x | 0.05x |
| Equity-to-Assets | 27.9% | 25.7% | 5.5% | 45.6% | 43.5% | 56.9% | 43.5% | 45.3% |
| Net Debt | 45,908 | 58,377 | 199,030 | 449 | 2,556 | -8,246 | -9,737 | -7,857 |
| Cash & Equivalents | 11,314 | 11,377 | 10,430 | 5,487 | 4,173 | 9,615 | 10,764 | 8,097 |
| Total Debt | 57,221 | 69,754 | 209,460 | 5,936 | 6,729 | 1,369 | 1,027 | 240 |
| Liquidity & working capital | ||||||||
| Current Ratio | 0.68x | 1.12x | 0.65x | 0.36x | 0.43x | 0.69x | 0.82x | 0.70x |
| Quick Ratio | 0.58x | 1.08x | 0.56x | 0.30x | 0.35x | 0.58x | 0.69x | 0.60x |
| Cash Ratio | 0.49x | 0.16x | 0.41x | 0.21x | 0.16x | 0.39x | 0.47x | 0.28x |
| Total Current Assets | 15,794 | 81,374 | 16,611 | 9,494 | 11,010 | 17,080 | 18,831 | 20,097 |
| Total Current Liabilities | 23,241 | 72,927 | 25,474 | 26,346 | 25,742 | 24,613 | 23,004 | 28,566 |
| Inventory | 2,295 | 2,446 | 2,262 | 1,639 | 1,928 | 2,765 | 2,911 | 2,929 |
| Trade Receivables | 2,095 | 2,358 | 3,446 | 1,824 | 2,477 | 4,352 | 4,901 | 7,165 |
| Trade Payables | 23,241 | 20,956 | 23,638 | 26,208 | 25,010 | 24,081 | 22,200 | 28,326 |
| Net Working Capital | -7,447 | 8,447 | -8,863 | -16,852 | -14,732 | -7,533 | -4,173 | -8,469 |
| Net Working Capital % of Revenue | -13.6% | 14.0% | -15.3% | -132.9% | -37.8% | -12.2% | -6.1% | -11.9% |
| Trade Working Capital | -18,852 | -16,152 | -17,930 | -22,745 | -20,605 | -16,964 | -14,388 | -18,232 |
| Trade Working Capital % of Revenue | -34.5% | -26.8% | -31.0% | -179.4% | -52.8% | -27.4% | -21.0% | -25.6% |
| Change in Trade Working Capital | N/A | 2,700 | -1,778 | -4,815 | 2,140 | 3,641 | 2,576 | -3,844 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 3.19x | 3.36x | 3.26x | 1.80x | 3.33x | 3.67x | 3.77x | 3.90x |
| Days Inventory Outstanding (DIO) | 114.4 | 108.6 | 111.9 | 202.9 | 109.5 | 99.6 | 96.9 | 93.6 |
| Receivables Turnover | 26.05x | 25.53x | 16.76x | 6.95x | 15.75x | 14.24x | 14.00x | 9.96x |
| Days Sales Outstanding (DSO) | 14.0 | 14.3 | 21.8 | 52.5 | 23.2 | 25.6 | 26.1 | 36.7 |
| Payables Turnover | 0.32x | 0.39x | 0.31x | 0.11x | 0.26x | 0.42x | 0.49x | 0.40x |
| Days Payable Outstanding (DPO) | 1158.3 | 930.7 | 1169.7 | 3243.8 | 1420.8 | 867.2 | 738.8 | 905.3 |
| Cash Conversion Cycle | -1029.9 days | -807.8 days | -1036.0 days | -2988.4 days | -1288.1 days | -742.0 days | -615.8 days | -775.0 days |
| Asset Turnover | 0.49x | 0.49x | 0.23x | 0.21x | 0.69x | 1.05x | 1.67x | 1.37x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 12,674 | 11,398 | 17,274 | -1,965 | 458 | 2,112 | 7,159 | 8,406 |
| Free Cash Flow (OCF − Capex proxy) | 12,674 | 9,013 | 55,191 | -10,230 | -1,267 | 1,359 | 4,052 | -5,940 |
| Cash Conversion (OCF / EBITDA) | 69.9% | 137.0% | 82.5% | N/A | 31.9% | 32.3% | 110.4% | 190.4% |
| Dividends Declared | 0 | 1,907 | 4,248 | 0 | 500 | 1,080 | 0 | 422 |
| Dividend Payout Ratio | 0.0% | 58.6% | N/A | 0.0% | N/A | 77.4% | 0.0% | 35.3% |
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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