Loading…
* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 0 · FY2023 0 · FY2024 0
State-owned entity that owns and manages regional airports in Georgia, including Kutaisi, Batumi and several smaller airfields. Counterpart to TAV-operated Tbilisi/Batumi commercial operations.
Subsidiary of Sakhelmtsipo (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| EBITDA Margin | 64.3% | 46.7% | 45.5% | 24.7% | 56.9% | 54.3% | 39.5% | 39.1% |
| EBITDAR | 35,279 | 29,934 | 30,966 | 8,717 | 37,995 | 46,583 | 38,740 | 47,326 |
| EBITDAR Margin | 64.3% | 46.7% | 45.5% | 24.7% | 56.9% | 54.3% | 39.5% | 39.1% |
| EBIT Margin | 10.9% | -1.2% | 2.8% | -106.6% | 38.7% | 29.8% | 22.8% | -22.6% |
| Net Profit Margin | -1.9% | 0.0% | 3.0% | -104.2% | 28.5% | 22.1% | 26.9% | -17.4% |
| Operating Expense % of Sales | 35.7% | 53.3% | 54.5% | 75.3% | 43.1% | 45.7% | 60.5% | 60.9% |
| Returns | ||||||||
| Return on Assets (ROA) | -0.2% | 0.0% | 0.5% | -9.1% | 4.4% | 4.6% | 6.0% | -4.6% |
| Return on Equity (ROE) | -0.4% | 0.0% | 0.7% | -14.1% | 6.8% | 6.1% | 7.5% | -5.4% |
| ROIC [EBIT / Invested Capital] | 2.5% | -0.3% | 0.8% | -16.2% | 10.9% | 10.0% | 8.0% | -9.2% |
| 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 | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Equity-to-Assets | 64.4% | 66.7% | 66.6% | 64.5% | 65.0% | 75.6% | 80.7% | 84.5% |
| Net Debt | -59,006 | -54,607 | -59,596 | -28,138 | -40,062 | -55,502 | -74,740 | -92,828 |
| Cash & Equivalents | 59,006 | 54,607 | 59,596 | 28,138 | 40,062 | 55,502 | 74,740 | 92,828 |
| Total Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Liquidity & working capital | ||||||||
| Current Ratio | 0.42x | 9.16x | 5.78x | 1.10x | 1.07x | 6.86x | 6.07x | 4.94x |
| Quick Ratio | 0.41x | 8.99x | 5.69x | 1.07x | 1.05x | 6.68x | 5.93x | 4.85x |
| Cash Ratio | 0.36x | 7.74x | 4.90x | 0.79x | 0.86x | 5.75x | 5.29x | 4.29x |
| Total Current Assets | 68,337 | 64,613 | 70,265 | 39,175 | 49,870 | 66,182 | 85,692 | 107,009 |
| Total Current Liabilities | 162,656 | 7,051 | 12,159 | 35,534 | 46,399 | 9,648 | 14,125 | 21,659 |
| Inventory | 1,198 | 1,191 | 1,099 | 1,194 | 1,319 | 1,765 | 1,979 | 1,915 |
| Trade Receivables | 6,500 | 5,282 | 7,901 | 9,045 | 7,776 | 8,831 | 8,440 | 9,706 |
| Trade Payables | 3,812 | 4,621 | 10,474 | 4,534 | 5,067 | 4,736 | 8,198 | 14,845 |
| Net Working Capital | -94,319 | 57,562 | 58,106 | 3,641 | 3,471 | 56,534 | 71,567 | 85,350 |
| Net Working Capital % of Revenue | -172.0% | 89.7% | 85.5% | 10.3% | 5.2% | 65.9% | 73.0% | 70.5% |
| Trade Working Capital | 3,886 | 1,852 | -1,474 | 5,705 | 4,028 | 5,860 | 2,221 | -3,224 |
| Trade Working Capital % of Revenue | 7.1% | 2.9% | -2.2% | 16.2% | 6.0% | 6.8% | 2.3% | -2.7% |
| Change in Trade Working Capital | N/A | -2,034 | -3,326 | 7,179 | -1,677 | 1,832 | -3,639 | -5,445 |
| 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 | 8.44x | 12.15x | 8.61x | 3.89x | 8.59x | 9.71x | 11.62x | 12.48x |
| Days Sales Outstanding (DSO) | 43.3 | 30.0 | 42.4 | 93.7 | 42.5 | 37.6 | 31.4 | 29.3 |
| Payables Turnover | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Days Payable Outstanding (DPO) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash Conversion Cycle | 43.3 days | 30.0 days | 42.4 days | 93.7 days | 42.5 days | 37.6 days | 31.4 days | 29.3 days |
| Asset Turnover | 0.12x | 0.15x | 0.15x | 0.09x | 0.16x | 0.21x | 0.22x | 0.26x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 6,251 | 14,822 | 10,611 | -18,007 | 21,831 | 31,387 | 25,189 | 30,282 |
| Free Cash Flow (OCF − Capex proxy) | 6,251 | -4,585 | -9,786 | -50,103 | 3,942 | 22,819 | 10,303 | -34,410 |
| Cash Conversion (OCF / EBITDA) | 17.7% | 49.5% | 34.3% | -206.6% | 57.5% | 67.4% | 65.0% | 64.0% |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | N/A | 0.0% | 0.0% | N/A | 0.0% | 0.0% | 0.0% | 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).
Ranked by how close each latest revenue is to this one — not a curated comp set. Open this set in Compare →