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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Subsidiary of Smart Capital Group (100.0%)
| 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 | 30.0% | 35.0% | 35.7% | 16.9% | 29.3% | 8.3% | 0.2% |
| EBITDAR | 1,695 | 2,340 | 2,318 | 1,519 | 4,108 | 751 | 67 |
| EBITDAR Margin | 30.0% | 35.0% | 35.7% | 16.9% | 51.6% | 16.9% | 5.1% |
| EBIT Margin | 16.6% | 23.3% | 21.2% | 8.0% | 23.6% | 1.7% | -11.1% |
| Net Profit Margin | 14.6% | 22.1% | 25.1% | 16.1% | 25.9% | 8.2% | -6.1% |
| Operating Expense % of Sales | 70.0% | 65.0% | 64.3% | 83.1% | 70.7% | 91.7% | 99.8% |
| Returns | |||||||
| Return on Assets (ROA) | 20.2% | 28.4% | 17.1% | 11.9% | 17.4% | 3.3% | -0.7% |
| Return on Equity (ROE) | 33.5% | 42.1% | 32.1% | 24.8% | 29.5% | 4.9% | -1.1% |
| ROIC [EBIT / Invested Capital] | 26.6% | 50.8% | 24.7% | 7.1% | 17.7% | 0.7% | -1.4% |
| Leverage & debt balances | |||||||
| Debt-to-Assets | 34.9% | 15.6% | 15.6% | 46.9% | 38.4% | 33.6% | 32.1% |
| Debt-to-Equity | 0.58x | 0.23x | 0.29x | 0.98x | 0.65x | 0.51x | 0.47x |
| Debt-to-EBITDA | 0.84x | 0.35x | 0.64x | 3.73x | 1.95x | 10.17x | 1319.26x |
| Equity-to-Assets | 60.4% | 67.5% | 53.4% | 48.0% | 59.2% | 66.1% | 67.5% |
| Net Debt | 1,061 | -438 | 489 | 4,343 | 3,659 | 3,426 | 3,297 |
| Cash & Equivalents | 363 | 1,249 | 993 | 1,319 | 890 | 305 | 151 |
| Total Debt | 1,424 | 811 | 1,482 | 5,662 | 4,549 | 3,731 | 3,449 |
| Liquidity & working capital | |||||||
| Current Ratio | 0.91x | 2.19x | 0.70x | 1.68x | 3.01x | 104.22x | 36.96x |
| Quick Ratio | 0.91x | 2.19x | 0.70x | 1.65x | 3.01x | 104.22x | 36.96x |
| Cash Ratio | 0.40x | 1.49x | 0.33x | 0.79x | 0.91x | 7.11x | 1.07x |
| Total Current Assets | 822 | 1,832 | 2,061 | 2,811 | 2,940 | 4,468 | 5,220 |
| Total Current Liabilities | 902 | 838 | 2,964 | 1,676 | 977 | 43 | 141 |
| Inventory | N/A | N/A | N/A | 40 | N/A | N/A | N/A |
| Trade Receivables | 156 | 356 | 686 | 1,452 | 1,925 | 2,675 | 2,980 |
| Trade Payables | 176 | 119 | 1,746 | 418 | 179 | 22 | 41 |
| Net Working Capital | -80 | 994 | -903 | 1,135 | 1,964 | 4,425 | 5,079 |
| Net Working Capital % of Revenue | -1.4% | 14.8% | -13.9% | 12.7% | 24.6% | 99.8% | 387.0% |
| Trade Working Capital | -20 | 237 | -1,060 | 1,075 | 1,746 | 2,654 | 2,940 |
| Trade Working Capital % of Revenue | -0.4% | 3.5% | -16.3% | 12.0% | 21.9% | 59.9% | 224.0% |
| Change in Trade Working Capital | N/A | 257 | -1,296 | 2,134 | 672 | 907 | 286 |
| 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 | 36.30x | 18.82x | 9.47x | 6.17x | 4.14x | 1.66x | 0.44x |
| Days Sales Outstanding (DSO) | 10.1 | 19.4 | 38.6 | 59.1 | 88.2 | 220.3 | 828.9 |
| 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 | 10.1 days | 19.4 days | 38.6 days | 59.1 days | 88.2 days | 220.3 days | 828.9 days |
| Asset Turnover | 1.39x | 1.29x | 0.68x | 0.74x | 0.67x | 0.40x | 0.12x |
| Cash flow & dividends | |||||||
| Operating Cash Flow | 1,589 | 2,892 | 2,644 | 2,600 | 1,274 | -345 | -578 |
| Free Cash Flow (OCF − Capex proxy) | 217 | 2,564 | 219 | -4,374 | 2,044 | -345 | -333 |
| Cash Conversion (OCF / EBITDA) | 93.7% | 123.6% | 114.0% | 171.2% | 54.6% | -94.0% | -22093.2% |
| 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.
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).