Ratio	2018	2020	2021	2022
Margins
Gross Margin	N/A	40.4%	76.6%	54.8%
EBITDA Margin	N/A	12.7%	26.9%	42.1%
EBITDAR	-35	800	1,446	5,685
EBITDAR Margin	N/A	12.7%	29.4%	46.8%
EBIT Margin	N/A	10.9%	25.1%	41.4%
Net Profit Margin	N/A	10.9%	26.7%	42.0%
Operating Expense % of Sales	N/A	27.8%	49.7%	12.8%
Returns
Return on Assets (ROA)	0.5%	13.1%	18.8%	56.9%
Return on Equity (ROE)	13.3%	N/A	1091.3%	97.7%
ROIC [EBIT / Invested Capital]	-12.1%	N/A	43.7%	127.4%
Leverage & liquidity
Debt-to-Assets	1.7%	29.9%	39.9%	1.3%
Debt-to-Equity	0.40x	-1.75x	23.13x	0.02x
Debt-to-EBITDA	N/A	1.96x	2.10x	0.02x
Equity-to-Assets	4.1%	-17.1%	1.7%	58.3%
Net Debt	24	487	2,707	-1,279
Cash & Equivalents	81	1,081	75	1,392
Total Debt	105	1,568	2,782	114
Efficiency & working capital
Inventory Turnover	N/A	4.97x	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	73.4	N/A	N/A
Receivables Turnover	N/A	2.14x	1.75x	4.49x
Days Sales Outstanding (DSO)	N/A	170.7	209.1	81.2
Payables Turnover	0.01x	1.56x	0.59x	2.27x
Days Payable Outstanding (DPO)	25094.1	233.2	621.6	161.1
Cash Conversion Cycle	-25094.1 days	10.9 days	-412.5 days	-79.9 days
Asset Turnover	0.00x	1.20x	0.70x	1.35x
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	0
Dividend Payout Ratio	N/A	N/A	N/A	0.0%

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