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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2021 0 · FY2022 0 · FY2023 0
Georgian distributor of premium alcoholic beverages and FMCG brands.
Group parent — controls 1 company · ownership
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross Margin | 42.7% | 42.7% | 40.6% | 31.5% | 18.0% | 20.8% |
| EBITDA Margin | 31.0% | 25.9% | 19.1% | 20.1% | 1.2% | 13.5% |
| EBITDAR | 25,288 | 17,475 | 14,572 | 15,747 | 1,194 | 11,484 |
| EBITDAR Margin | 31.0% | 25.9% | 19.1% | 20.1% | 1.2% | 13.5% |
| EBIT Margin | 30.8% | 25.6% | 18.8% | 19.6% | -1.9% | 12.8% |
| Net Profit Margin | 21.0% | 22.4% | -6.8% | 29.2% | -0.4% | -1.6% |
| Operating Expense % of Sales | 11.8% | 16.8% | 21.5% | 11.4% | 16.8% | 7.3% |
| Returns | ||||||
| Return on Assets (ROA) | 14.1% | 8.8% | -2.7% | 12.5% | -0.2% | -0.6% |
| Return on Equity (ROE) | 34.7% | 22.0% | -8.9% | 27.1% | -0.4% | -1.2% |
| ROIC [EBIT / Invested Capital] | 28.4% | 13.2% | 9.9% | 9.8% | -1.0% | 5.9% |
| Leverage & debt balances | ||||||
| Debt-to-Assets | 41.0% | 37.6% | 46.4% | 44.5% | 44.3% | 31.7% |
| Debt-to-Equity | 1.01x | 0.94x | 1.50x | 0.96x | 0.93x | 0.61x |
| Debt-to-EBITDA | 1.97x | 3.69x | 6.03x | 5.16x | 78.26x | 6.18x |
| Equity-to-Assets | 40.7% | 40.0% | 30.9% | 46.2% | 47.6% | 51.6% |
| Net Debt | 39,141 | 62,886 | 85,674 | 71,963 | 88,981 | 69,639 |
| Cash & Equivalents | 10,602 | 1,510 | 2,202 | 9,351 | 4,461 | 1,362 |
| Total Debt | 49,743 | 64,397 | 87,877 | 81,314 | 93,442 | 71,001 |
| Liquidity & working capital | ||||||
| Current Ratio | 2.39x | 2.02x | 1.60x | 2.59x | 1.50x | 1.63x |
| Quick Ratio | 1.14x | 0.96x | 0.49x | 0.95x | 0.29x | 0.46x |
| Cash Ratio | 0.30x | 0.02x | 0.03x | 0.18x | 0.05x | 0.02x |
| Total Current Assets | 84,620 | 128,322 | 132,088 | 131,348 | 135,262 | 138,885 |
| Total Current Liabilities | 35,442 | 63,474 | 82,803 | 50,638 | 90,208 | 85,297 |
| Inventory | 44,117 | 67,447 | 91,399 | 83,249 | 108,666 | 99,542 |
| Trade Receivables | 21,075 | 46,351 | 23,292 | 13,381 | 7,028 | 28,864 |
| Trade Payables | 16,991 | 26,356 | 35,124 | 3,438 | 2,956 | 19,429 |
| Net Working Capital | 49,178 | 64,847 | 49,285 | 80,710 | 45,054 | 53,587 |
| Net Working Capital % of Revenue | 60.2% | 96.1% | 64.6% | 103.0% | 44.7% | 63.0% |
| Trade Working Capital | 48,200 | 87,442 | 79,567 | 93,192 | 112,738 | 108,977 |
| Trade Working Capital % of Revenue | 59.0% | 129.6% | 104.3% | 118.9% | 111.9% | 128.1% |
| Change in Trade Working Capital | N/A | 39,242 | -7,876 | 13,625 | 19,546 | -3,760 |
| Turnover & efficiency | ||||||
| Inventory Turnover | 1.06x | 0.57x | 0.50x | 0.64x | 0.76x | 0.68x |
| Days Inventory Outstanding (DIO) | 344.2 | 637.0 | 736.0 | 566.1 | 480.1 | 539.2 |
| Receivables Turnover | 3.88x | 1.46x | 3.28x | 5.86x | 14.34x | 2.95x |
| Days Sales Outstanding (DSO) | 94.2 | 250.8 | 111.4 | 62.3 | 25.5 | 123.8 |
| Payables Turnover | 2.75x | 1.47x | 1.29x | 15.61x | 27.94x | 3.47x |
| Days Payable Outstanding (DPO) | 132.6 | 248.9 | 282.9 | 23.4 | 13.1 | 105.2 |
| Cash Conversion Cycle | 305.8 days | 638.9 days | 564.6 days | 605.1 days | 492.5 days | 557.8 days |
| Asset Turnover | 0.67x | 0.39x | 0.40x | 0.43x | 0.48x | 0.38x |
| Cash flow & dividends | ||||||
| Operating Cash Flow | -2,470 | -17,132 | 12,709 | -2,248 | 842 | 9,661 |
| Free Cash Flow (OCF − Capex proxy) | -14,528 | -21,681 | -4,967 | 8,498 | -21,014 | 3,978 |
| Cash Conversion (OCF / EBITDA) | -9.8% | -98.0% | 87.2% | -14.3% | 70.5% | 84.1% |
| Dividends Declared | 6,705 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | 39.2% | 0.0% | N/A | 0.0% | 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.
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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