Ratio	2017	2018	2019	2020
Margins
Gross Margin	100.0%	100.0%	100.0%	100.0%
EBITDA Margin	60.5%	150.4%	-615.8%	106.8%
EBITDAR	3,253	2,503	-1,159	325
EBITDAR Margin	60.8%	152.1%	-599.5%	117.0%
EBIT Margin	60.3%	149.7%	-624.1%	103.2%
Net Profit Margin	-31.9%	149.6%	-416.4%	-672.6%
Operating Expense % of Sales	39.5%	50.4%	715.8%	6.8%
Returns
Return on Assets (ROA)	-37.2%	59.0%	-35.1%	-528.2%
Return on Equity (ROE)	N/A	N/A	N/A	N/A
ROIC [EBIT / Invested Capital]	311.2%	714.7%	-86.6%	1363.0%
Leverage & liquidity
Debt-to-Assets	285.8%	242.1%	428.7%	3198.1%
Debt-to-Equity	-1.33x	-1.38x	-1.28x	-1.03x
Debt-to-EBITDA	4.05x	4.08x	N/A	38.14x
Equity-to-Assets	-215.2%	-175.3%	-334.8%	-3100.6%
Net Debt	10,912	7,668	9,079	10,973
Cash & Equivalents	2,200	2,445	763	323
Total Debt	13,112	10,112	9,843	11,296
Efficiency & working capital
Inventory Turnover	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	N/A	N/A	N/A
Receivables Turnover	2.28x	0.97x	0.13x	N/A
Days Sales Outstanding (DSO)	160.1	377.5	2869.5	N/A
Payables Turnover	N/A	N/A	N/A	N/A
Days Payable Outstanding (DPO)	N/A	N/A	N/A	N/A
Cash Conversion Cycle	160.1 days	377.5 days	2869.5 days	N/A
Asset Turnover	1.17x	0.39x	0.08x	0.79x
Cash flow & dividends
Operating Cash Flow	-3,983	3,244	-1,412	-1,894
Free Cash Flow (OCF − Capex proxy)	-3,983	3,244	-1,412	-1,893
Cash Conversion (OCF / EBITDA)	-122.9%	131.0%	N/A	-639.6%
Dividends Declared	N/A	N/A	N/A	N/A
Dividend Payout Ratio	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