Ratio	2022	2023	2024
Margins
Gross Margin	4.1%	3.6%	9.3%
EBITDA Margin	0.3%	-1.2%	3.4%
EBITDAR	21	-100	347
EBITDAR Margin	0.3%	-1.2%	3.4%
EBIT Margin	0.3%	-1.2%	3.4%
Net Profit Margin	0.4%	-1.7%	3.4%
Operating Expense % of Sales	3.8%	4.8%	5.9%
Returns
Return on Assets (ROA)	2.4%	-10.5%	18.5%
Return on Equity (ROE)	7.7%	-57.0%	59.0%
ROIC [EBIT / Invested Capital]	2.6%	-12.0%	24.8%
Leverage & liquidity
Debt-to-Assets	32.5%	43.2%	43.9%
Debt-to-Equity	1.02x	2.35x	1.40x
Debt-to-EBITDA	19.24x	N/A	2.37x
Equity-to-Assets	31.8%	18.4%	31.3%
Net Debt	400	585	812
Cash & Equivalents	0	0	12
Total Debt	401	585	824
Efficiency & working capital
Inventory Turnover	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	N/A	N/A
Receivables Turnover	164.82x	28.41x	27.03x
Days Sales Outstanding (DSO)	2.2	12.8	13.5
Payables Turnover	16.15x	21.39x	30.03x
Days Payable Outstanding (DPO)	22.6	17.1	12.2
Cash Conversion Cycle	-20.4 days	-4.2 days	1.4 days
Asset Turnover	6.01x	6.05x	5.42x
Cash flow & dividends
Operating Cash Flow	-311	-185	-216
Free Cash Flow (OCF − Capex proxy)	-311	-185	-226
Cash Conversion (OCF / EBITDA)	-1494.6%	N/A	-62.2%
Dividends Declared	N/A	N/A	N/A
Dividend Payout Ratio	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