Kavea Tbilisi Mall (შპს კავეა თბილისი მოლი)

Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	90.7%	91.7%	92.0%	88.5%	88.9%	90.8%	93.1%
EBITDA Margin	44.7%	38.8%	18.0%	21.2%	28.1%	33.2%	43.4%
EBITDAR	1,601	1,832	206	549	1,469	2,227	3,107
EBITDAR Margin	44.7%	44.0%	29.0%	32.1%	38.8%	43.8%	51.8%
EBIT Margin	40.2%	34.7%	-11.9%	9.3%	22.7%	29.2%	40.6%
Net Profit Margin	38.6%	30.2%	-32.2%	24.3%	26.5%	29.2%	26.7%
Operating Expense % of Sales	46.1%	52.8%	73.9%	67.3%	60.7%	57.6%	49.6%
Returns
Return on Assets (ROA)	31.2%	21.2%	-4.1%	6.9%	14.9%	18.9%	16.7%
Return on Equity (ROE)	73.0%	39.8%	-7.9%	12.5%	23.1%	25.5%	21.6%
ROIC [EBIT / Invested Capital]	46.4%	36.8%	-2.1%	3.5%	16.4%	21.5%	28.0%
Leverage & debt balances
Debt-to-Assets	27.7%	18.3%	19.2%	19.2%	16.7%	13.9%	13.2%
Debt-to-Equity	0.65x	0.34x	0.37x	0.35x	0.26x	0.19x	0.17x
Debt-to-EBITDA	0.77x	0.67x	8.43x	3.19x	1.06x	0.65x	0.49x
Equity-to-Assets	42.7%	53.1%	51.8%	55.3%	64.6%	74.1%	77.2%
Net Debt	1,214	772	1,081	1,149	877	1,069	1,267
Cash & Equivalents	16	314	0	10	249	22	1
Total Debt	1,230	1,086	1,081	1,158	1,125	1,091	1,268
Liquidity & working capital
Current Ratio	0.23x	0.38x	0.45x	0.51x	0.06x	0.84x	0.84x
Quick Ratio	0.23x	0.36x	0.43x	0.51x	0.06x	0.84x	0.84x
Cash Ratio	0.01x	0.11x	0.00x	0.00x	0.10x	0.01x	0.00x
Total Current Assets	587	1,047	1,212	1,369	153	1,691	1,852
Total Current Liabilities	2,540	2,783	2,719	2,691	2,382	2,025	2,200
Inventory	N/A	55	38	N/A	N/A	N/A	N/A
Trade Receivables	2,120	3,107	3,188	3,582	4,064	4,572	7,213
Trade Payables	1,261	1,694	1,485	1,487	1,186	904	838
Net Working Capital	-1,953	-1,735	-1,507	-1,322	-2,230	-334	-347
Net Working Capital % of Revenue	-54.5%	-41.7%	-211.6%	-77.2%	-58.9%	-6.6%	-5.8%
Trade Working Capital	859	1,468	1,740	2,095	2,878	3,668	6,375
Trade Working Capital % of Revenue	24.0%	35.3%	244.5%	122.3%	76.1%	72.1%	106.3%
Change in Trade Working Capital	N/A	609	272	354	783	790	2,708
Turnover & efficiency
Inventory Turnover	N/A	6.26x	1.52x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	58.3	239.4	N/A	N/A	N/A	N/A
Receivables Turnover	1.69x	1.34x	0.22x	0.48x	0.93x	1.11x	0.83x
Days Sales Outstanding (DSO)	215.9	272.7	1634.5	763.5	392.1	328.1	438.9
Payables Turnover	0.26x	0.20x	0.04x	0.13x	0.36x	0.52x	0.49x
Days Payable Outstanding (DPO)	1385.3	1787.4	9479.5	2752.5	1026.6	705.9	737.4
Cash Conversion Cycle	-1169.5 days	-1456.5 days	-7605.6 days	-1989.1 days	-634.5 days	-377.8 days	-298.5 days
Asset Turnover	0.81x	0.70x	0.13x	0.28x	0.56x	0.65x	0.62x
Cash flow & dividends
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow (OCF − Capex proxy)	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash Conversion (OCF / EBITDA)	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Declared	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividend Payout Ratio	N/A	N/A	N/A	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.

Kavea Tbilisi Mall

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