Ratio	2022	2023	2024
Margins
Gross Margin	34.9%	26.4%	33.3%
EBITDA Margin	17.9%	8.7%	8.2%
EBITDAR	401	377	363
EBITDAR Margin	17.9%	8.7%	8.2%
EBIT Margin	16.4%	7.7%	7.1%
Net Profit Margin	13.1%	4.8%	4.1%
Operating Expense % of Sales	16.9%	17.7%	25.1%
Returns
Return on Assets (ROA)	19.4%	9.3%	8.2%
Return on Equity (ROE)	302.4%	9444.4%	213.2%
ROIC [EBIT / Invested Capital]	49.7%	25.2%	44.7%
Leverage & liquidity
Debt-to-Assets	43.0%	63.8%	28.0%
Debt-to-Equity	6.68x	648.65x	7.28x
Debt-to-EBITDA	1.61x	3.74x	1.71x
Equity-to-Assets	6.4%	0.1%	3.8%
Net Debt	641	1,320	618
Cash & Equivalents	6	90	4
Total Debt	647	1,410	622
Efficiency & working capital
Inventory Turnover	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	N/A	N/A
Receivables Turnover	14.59x	7.76x	8.77x
Days Sales Outstanding (DSO)	25.0	47.1	41.6
Payables Turnover	1.96x	4.07x	2.06x
Days Payable Outstanding (DPO)	185.9	89.6	177.2
Cash Conversion Cycle	-160.9 days	-42.6 days	-135.5 days
Asset Turnover	1.49x	1.95x	1.98x
Cash flow & dividends
Operating Cash Flow	10	83	-63
Free Cash Flow (OCF − Capex proxy)	10	83	-63
Cash Conversion (OCF / EBITDA)	2.6%	22.2%	-17.3%
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