Loading…
* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 0 · FY2023 0 · FY2024 0
JSC Georgia Global Utilities (GGU) is the holding company for the Georgian Water and Power (GWP) regulated Tbilisi water utility. Once a Georgia Capital business, GGU was sold to Spain's FCC Aqualia in two stages (majority in 2022; the remaining 20% completed July 2025) and is now 100% owned by FCC Aqualia. GGU's former renewable-energy assets were separated beforehand and retained by Georgia Capital (see Georgian Renewable Power Company).
Group parent — controls 5 companies · ownership
| Ratio | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross Margin | 98.0% | 98.5% | 98.3% | 98.3% | 98.7% |
| EBITDA Margin | 63.7% | 70.2% | 69.4% | 61.7% | 68.8% |
| EBITDAR | 108,347 | 141,315 | 145,740 | 135,909 | 199,108 |
| EBITDAR Margin | 63.7% | 70.2% | 69.4% | 61.7% | 68.8% |
| EBIT Margin | 31.3% | 48.8% | 47.9% | 38.5% | 46.0% |
| Net Profit Margin | -44.7% | -5.6% | 56.0% | 22.4% | 21.6% |
| Operating Expense % of Sales | 34.3% | 28.4% | 28.9% | 38.3% | 31.5% |
| Returns | |||||
| Return on Assets (ROA) | -7.0% | -1.0% | 15.5% | 5.5% | 5.0% |
| Return on Equity (ROE) | -39.7% | -7.0% | 48.9% | 17.0% | 17.7% |
| ROIC [EBIT / Invested Capital] | 5.9% | 10.9% | 15.4% | 10.6% | 12.1% |
| Leverage & debt balances | |||||
| Debt-to-Assets | 76.6% | 77.9% | 59.1% | 56.8% | 63.7% |
| Debt-to-Equity | 4.36x | 5.22x | 1.87x | 1.77x | 2.26x |
| Debt-to-EBITDA | 7.71x | 5.90x | 3.08x | 3.78x | 4.01x |
| Equity-to-Assets | 17.6% | 14.9% | 31.6% | 32.1% | 28.1% |
| Net Debt | 716,080 | 737,472 | 412,477 | 506,129 | 747,635 |
| Cash & Equivalents | 118,839 | 96,842 | 36,909 | 7,282 | 50,029 |
| Total Debt | 834,919 | 834,314 | 449,386 | 513,411 | 797,664 |
| Liquidity & working capital | |||||
| Current Ratio | 2.33x | 1.93x | 1.50x | 0.08x | 2.79x |
| Quick Ratio | 2.25x | 1.86x | 1.36x | 0.06x | 2.70x |
| Cash Ratio | 1.93x | 1.29x | 0.84x | 0.01x | 0.54x |
| Total Current Assets | 143,751 | 144,524 | 65,691 | 43,586 | 258,439 |
| Total Current Liabilities | 61,610 | 74,877 | 43,910 | 577,266 | 92,663 |
| Inventory | 4,991 | 5,471 | 5,776 | 6,942 | 8,010 |
| Trade Receivables | 14,097 | 26,008 | 21,539 | 23,956 | 27,447 |
| Trade Payables | 13,027 | 16,386 | 14,627 | 28,423 | 19,733 |
| Net Working Capital | 82,141 | 69,647 | 21,781 | -533,680 | 165,776 |
| Net Working Capital % of Revenue | 48.3% | 34.6% | 10.4% | -242.2% | 57.3% |
| Trade Working Capital | 6,061 | 15,093 | 12,688 | 2,475 | 15,724 |
| Trade Working Capital % of Revenue | 3.6% | 7.5% | 6.0% | 1.1% | 5.4% |
| Change in Trade Working Capital | N/A | 9,032 | -2,405 | -10,213 | 13,249 |
| Turnover & efficiency | |||||
| Inventory Turnover | 0.67x | 0.54x | 0.63x | 0.52x | 0.47x |
| Days Inventory Outstanding (DIO) | 545.6 | 679.2 | 576.7 | 696.5 | 784.2 |
| Receivables Turnover | 12.06x | 7.74x | 9.75x | 9.20x | 10.54x |
| Days Sales Outstanding (DSO) | 30.3 | 47.1 | 37.4 | 39.7 | 34.6 |
| Payables Turnover | 0.26x | 0.18x | 0.25x | 0.13x | 0.19x |
| Days Payable Outstanding (DPO) | 1424.0 | 2034.3 | 1460.3 | 2851.7 | 1932.0 |
| Cash Conversion Cycle | -848.2 days | -1308.0 days | -846.2 days | -2115.5 days | -1113.1 days |
| Asset Turnover | 0.16x | 0.19x | 0.28x | 0.24x | 0.23x |
| Cash flow & dividends | |||||
| Operating Cash Flow | 124,804 | 138,966 | 160,905 | 134,187 | 190,678 |
| Free Cash Flow (OCF − Capex proxy) | 75,394 | 56,555 | 33,611 | -57,285 | -158,437 |
| Cash Conversion (OCF / EBITDA) | 115.2% | 98.3% | 110.4% | 98.7% | 95.8% |
| Dividends Declared | 15,000 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | N/A | N/A | 0.0% | 0.0% | 0.0% |
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).
Ranked by how close each latest revenue is to this one — not a curated comp set. Open this set in Compare →