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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Operates in Real Estate — Residential Development. Per the activity note to the FY2024 annual report, the group develops and manages real estate.
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| EBITDA Margin | -42.8% | 55.0% | -1391.0% | -48.4% | 86.8% | 96.1% | 66.9% |
| EBITDAR | -1,123 | 2,499 | -2,446 | -1,248 | 2,711 | 3,343 | 2,416 |
| EBITDAR Margin | -42.8% | 55.0% | -1391.0% | -48.4% | 86.8% | 96.1% | 66.9% |
| EBIT Margin | -98.1% | 20.2% | -2366.7% | -116.5% | 36.2% | 71.9% | 47.1% |
| Net Profit Margin | -58.6% | -43.4% | -1890.0% | -17.2% | 33.9% | 98.8% | 63.1% |
| Operating Expense % of Sales | 142.8% | 45.0% | 1491.0% | 148.4% | 13.2% | 3.9% | 33.1% |
| Returns | |||||||
| Return on Assets (ROA) | -6.2% | -6.6% | -11.6% | -1.6% | 4.3% | 14.7% | 10.4% |
| Return on Equity (ROE) | -23.5% | -42.3% | -247.2% | -42.0% | 50.1% | 20.4% | 11.9% |
| ROIC [EBIT / Invested Capital] | -10.7% | 3.2% | -15.4% | -12.0% | 4.9% | 11.2% | 7.9% |
| Leverage & debt balances | |||||||
| Debt-to-Assets | 71.1% | 80.8% | 91.3% | 91.4% | 88.9% | 25.9% | 11.2% |
| Debt-to-Equity | 2.71x | 5.21x | 19.48x | 23.65x | 10.31x | 0.36x | 0.13x |
| Debt-to-EBITDA | N/A | 9.72x | N/A | N/A | 8.04x | 1.81x | 1.02x |
| Equity-to-Assets | 26.3% | 15.5% | 4.7% | 3.9% | 8.6% | 72.4% | 87.3% |
| Net Debt | 17,581 | 23,616 | 25,603 | 24,056 | 21,184 | 5,463 | 2,286 |
| Cash & Equivalents | 112 | 686 | 595 | 852 | 605 | 578 | 171 |
| Total Debt | 17,692 | 24,301 | 26,197 | 24,909 | 21,789 | 6,041 | 2,457 |
| Liquidity & working capital | |||||||
| Current Ratio | 0.32x | 0.64x | 0.53x | 0.53x | 0.28x | 3.37x | 2.36x |
| Quick Ratio | 0.32x | 0.64x | 0.52x | 0.53x | 0.28x | 3.37x | 2.36x |
| Cash Ratio | 0.06x | 0.13x | 0.09x | 0.14x | 0.10x | 1.39x | 0.52x |
| Total Current Assets | 613 | 3,379 | 3,328 | 3,149 | 1,628 | 1,405 | 772 |
| Total Current Liabilities | 1,902 | 5,263 | 6,309 | 5,947 | 5,920 | 417 | 327 |
| Inventory | N/A | 18 | 18 | 18 | N/A | N/A | N/A |
| Trade Receivables | 501 | 2,676 | 2,716 | 2,279 | 1,005 | 809 | 583 |
| Trade Payables | 650 | 1,120 | 1,154 | 1,291 | 620 | 336 | 248 |
| Net Working Capital | -1,289 | -1,884 | -2,980 | -2,798 | -4,292 | 988 | 445 |
| Net Working Capital % of Revenue | -49.1% | -41.4% | -1694.7% | -108.6% | -137.5% | 28.4% | 12.3% |
| Trade Working Capital | -149 | 1,574 | 1,580 | 1,005 | 385 | 473 | 335 |
| Trade Working Capital % of Revenue | -5.7% | 34.6% | 898.4% | 39.0% | 12.3% | 13.6% | 9.3% |
| Change in Trade Working Capital | N/A | 1,723 | 6 | -575 | -620 | 87 | -137 |
| Turnover & efficiency | |||||||
| Inventory Turnover | 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 |
| Receivables Turnover | 5.24x | 1.70x | 0.06x | 1.13x | 3.11x | 4.30x | 6.19x |
| Days Sales Outstanding (DSO) | 69.7 | 214.9 | 5636.9 | 322.7 | 117.5 | 84.8 | 58.9 |
| Payables Turnover | 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 |
| Cash Conversion Cycle | 69.7 days | 214.9 days | 5636.9 days | 322.7 days | 117.5 days | 84.8 days | 58.9 days |
| Asset Turnover | 0.11x | 0.15x | 0.01x | 0.09x | 0.13x | 0.15x | 0.16x |
| Cash flow & dividends | |||||||
| Operating Cash Flow | 639 | -2,737 | 277 | 864 | 3,700 | 3,038 | N/A |
| Free Cash Flow (OCF − Capex proxy) | -50 | -3,419 | -11 | 286 | 3,148 | 2,833 | N/A |
| Cash Conversion (OCF / EBITDA) | N/A | -109.5% | N/A | N/A | 136.5% | 90.9% | 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.
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Ownership & directors from companyinfo.ge (public corporate registry).
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