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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Per the activity note to the FY2023 annual report, the company constructs residential and non-residential buildings. Based in Tbilishe, Old Tbilisi district, Iv. Javakhishvili Street, No. 83/5; actual address Bakuriani, Agmashenebeli Street, No. 12.
Subsidiary of Shezghuduli Pasukhismgeblobis Sazogadoeba Green Taun Bakuriani (100.0%)
| Ratio | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross Margin | 90.6% | 65.5% | 52.8% | 50.0% | 64.9% |
| EBITDA Margin | 66.2% | 54.6% | 39.7% | 35.2% | 17.7% |
| EBITDAR | 383 | 1,035 | 506 | 953 | 124 |
| EBITDAR Margin | 66.2% | 54.6% | 39.7% | 35.2% | 17.7% |
| EBIT Margin | 64.8% | 54.4% | 39.4% | 34.7% | 14.9% |
| Net Profit Margin | 5.3% | 28.2% | 69.0% | 41.9% | 40.8% |
| Operating Expense % of Sales | 24.4% | 10.9% | 13.1% | 14.8% | 47.2% |
| Returns | |||||
| Return on Assets (ROA) | 0.7% | 7.7% | 11.6% | 16.2% | 4.0% |
| Return on Equity (ROE) | 18.0% | 80.9% | 47.0% | 35.1% | 8.5% |
| ROIC [EBIT / Invested Capital] | 9.9% | 19.7% | 8.7% | 15.4% | 1.7% |
| Leverage & debt balances | |||||
| Debt-to-Assets | 84.4% | 66.4% | 52.2% | 41.4% | 40.6% |
| Debt-to-Equity | 22.98x | 6.93x | 2.12x | 0.90x | 0.85x |
| Debt-to-EBITDA | 10.28x | 4.43x | 7.83x | 3.04x | 23.27x |
| Equity-to-Assets | 3.7% | 9.6% | 24.7% | 46.2% | 47.5% |
| Net Debt | 3,638 | 4,573 | 3,929 | 2,881 | 2,873 |
| Cash & Equivalents | 302 | 8 | 33 | 13 | 1 |
| Total Debt | 3,941 | 4,581 | 3,962 | 2,894 | 2,874 |
| Liquidity & working capital | |||||
| Current Ratio | 0.82x | 0.98x | 1.32x | 7.12x | 2.26x |
| Quick Ratio | 0.08x | 0.28x | 1.32x | 7.12x | 2.26x |
| Cash Ratio | 0.07x | 0.00x | 0.01x | 0.02x | 0.00x |
| Total Current Assets | 3,690 | 6,144 | 6,825 | 6,272 | 2,093 |
| Total Current Liabilities | 4,499 | 6,244 | 5,153 | 881 | 927 |
| Inventory | 3,324 | 4,391 | N/A | N/A | N/A |
| Trade Receivables | N/A | 1,606 | 1,888 | 1,924 | 1,650 |
| Trade Payables | 241 | N/A | 83 | 35 | 34 |
| Net Working Capital | -810 | -100 | 1,672 | 5,391 | 1,166 |
| Net Working Capital % of Revenue | -139.7% | -5.3% | 131.1% | 199.3% | 167.1% |
| Trade Working Capital | 3,083 | 5,998 | 1,805 | 1,890 | 1,617 |
| Trade Working Capital % of Revenue | 532.1% | 316.4% | 141.5% | 69.9% | 231.7% |
| Change in Trade Working Capital | N/A | 2,915 | -4,193 | 85 | -273 |
| Turnover & efficiency | |||||
| Inventory Turnover | 0.02x | 0.15x | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | 22202.7 | 2447.5 | N/A | N/A | N/A |
| Receivables Turnover | N/A | 1.18x | 0.68x | 1.41x | 0.42x |
| Days Sales Outstanding (DSO) | N/A | 309.3 | 540.2 | 259.7 | 863.2 |
| Payables Turnover | 0.23x | N/A | 7.22x | 38.95x | 7.30x |
| Days Payable Outstanding (DPO) | 1610.1 | N/A | 50.6 | 9.4 | 50.0 |
| Cash Conversion Cycle | 20592.6 days | 2756.9 days | 489.7 days | 250.3 days | 813.2 days |
| Asset Turnover | 0.12x | 0.27x | 0.17x | 0.39x | 0.10x |
| Cash flow & dividends | |||||
| Operating Cash Flow | -1,090 | -369 | 364 | 828 | 4,246 |
| Free Cash Flow (OCF − Capex proxy) | -1,102 | -390 | 313 | 828 | 8 |
| Cash Conversion (OCF / EBITDA) | -284.2% | -35.6% | 72.0% | 86.9% | 3438.1% |
| Dividends Declared | N/A | N/A | N/A | N/A | N/A |
| Dividend Payout Ratio | 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.
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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