Ratio	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	69.9%	69.9%	69.9%	70.5%	39.4%	44.9%
EBITDA Margin	13.4%	20.5%	36.0%	39.3%	28.5%	23.9%
EBITDAR	231	340	1,301	1,487	2,570	3,471
EBITDAR Margin	14.2%	21.3%	36.6%	39.3%	28.5%	23.9%
EBIT Margin	3.1%	14.4%	32.5%	33.2%	28.5%	21.6%
Net Profit Margin	11.3%	11.7%	33.9%	26.6%	13.3%	18.4%
Operating Expense % of Sales	56.5%	49.5%	34.0%	31.2%	10.9%	21.0%
Returns
Return on Assets (ROA)	13.8%	14.3%	56.1%	27.2%	24.5%	34.0%
Return on Equity (ROE)	18.0%	19.8%	68.4%	37.0%	34.9%	48.0%
ROIC [EBIT / Invested Capital]	4.8%	20.4%	62.2%	39.6%	75.4%	67.4%
Leverage & liquidity
Debt-to-Assets	3.3%	13.4%	5.1%	13.4%	11.0%	2.3%
Debt-to-Equity	0.04x	0.19x	0.06x	0.18x	0.16x	0.03x
Debt-to-EBITDA	0.20x	0.54x	0.09x	0.33x	0.21x	0.05x
Equity-to-Assets	76.8%	72.3%	82.0%	73.3%	70.1%	70.7%
Net Debt	16	175	90	451	-27	-916
Cash & Equivalents	28	1	19	45	565	1,100
Total Debt	44	176	109	495	538	184
Efficiency & working capital
Inventory Turnover	4.36x	2.73x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	83.6	133.6	N/A	N/A	N/A	N/A
Receivables Turnover	11.48x	9.75x	17.80x	4.89x	23.86x	7.50x
Days Sales Outstanding (DSO)	31.8	37.5	20.5	74.6	15.3	48.7
Payables Turnover	2.18x	3.52x	5.44x	3.19x	6.91x	5.29x
Days Payable Outstanding (DPO)	167.4	103.7	67.1	114.3	52.8	69.0
Cash Conversion Cycle	-52.0 days	67.3 days	-46.6 days	-39.7 days	-37.5 days	-20.3 days
Asset Turnover	1.23x	1.22x	1.65x	1.02x	1.84x	1.85x
Cash flow & dividends
Operating Cash Flow	409	279	307	264	2,191	3,162
Free Cash Flow (OCF − Capex proxy)	3	152	123	-300	520	1,495
Cash Conversion (OCF / EBITDA)	188.3%	85.1%	24.0%	17.7%	85.2%	91.3%
Dividends Declared	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

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