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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Operates in Logistics & Transport — Warehousing & Distribution. Per the activity note to the FY2023 annual report, the company transports freight for local and international customers.
| Ratio | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|
| Margins | ||||
| Gross Margin | 3.8% | 3.6% | 6.2% | -3.3% |
| EBITDA Margin | -17.9% | -19.4% | -12.2% | -29.7% |
| EBITDAR | -371 | -574 | -172 | -430 |
| EBITDAR Margin | -14.6% | -16.8% | -7.6% | -24.7% |
| EBIT Margin | -18.0% | -19.5% | -12.2% | -29.8% |
| Net Profit Margin | -19.5% | -18.4% | -5.3% | -25.3% |
| Operating Expense % of Sales | 21.7% | 23.0% | 18.3% | 26.4% |
| Returns | ||||
| Return on Assets (ROA) | -29.9% | -20.2% | -4.8% | -21.5% |
| Return on Equity (ROE) | N/A | N/A | N/A | N/A |
| ROIC [EBIT / Invested Capital] | -942.1% | -173.0% | -31.4% | N/A |
| Leverage & debt balances | ||||
| Debt-to-Assets | 129.5% | 135.8% | 147.9% | 180.0% |
| Debt-to-Equity | -4.33x | -3.75x | -2.97x | -2.19x |
| Debt-to-EBITDA | N/A | N/A | N/A | N/A |
| Equity-to-Assets | -29.9% | -36.2% | -49.7% | -82.3% |
| Net Debt | 545 | 1,511 | 2,128 | 1,681 |
| Cash & Equivalents | 1,604 | 2,710 | 1,574 | 2,005 |
| Total Debt | 2,149 | 4,221 | 3,702 | 3,685 |
| Liquidity & working capital | ||||
| Current Ratio | 0.77x | 0.64x | 0.67x | 0.55x |
| Quick Ratio | 0.77x | 0.64x | 0.69x | 0.53x |
| Cash Ratio | 0.74x | 0.64x | 0.42x | 0.54x |
| Total Current Assets | 1,653 | 2,710 | 2,500 | 2,045 |
| Total Current Liabilities | 2,155 | 4,234 | 3,748 | 3,733 |
| Inventory | N/A | N/A | -77 | 77 |
| Trade Receivables | 23 | 0 | 514 | 4 |
| Trade Payables | 6 | 13 | 46 | 48 |
| Net Working Capital | -502 | -1,524 | -1,249 | -1,687 |
| Net Working Capital % of Revenue | -19.8% | -44.5% | -55.1% | -96.9% |
| Trade Working Capital | 17 | -12 | 391 | 34 |
| Trade Working Capital % of Revenue | 0.7% | -0.4% | 17.2% | 1.9% |
| Change in Trade Working Capital | N/A | -29 | 403 | -357 |
| Turnover & efficiency | ||||
| Inventory Turnover | N/A | N/A | -27.55x | 23.28x |
| Days Inventory Outstanding (DIO) | N/A | N/A | -13.3 | 15.7 |
| Receivables Turnover | 110.86x | 8483.50x | 4.41x | 401.78x |
| Days Sales Outstanding (DSO) | 3.3 | 0.0 | 82.7 | 0.9 |
| Payables Turnover | 388.34x | 260.42x | 46.25x | 37.72x |
| Days Payable Outstanding (DPO) | 0.9 | 1.4 | 7.9 | 9.7 |
| Cash Conversion Cycle | 2.4 days | -1.4 days | 61.5 days | 6.9 days |
| Asset Turnover | 1.53x | 1.10x | 0.91x | 0.85x |
| Cash flow & dividends | ||||
| Operating Cash Flow | N/A | -994 | -890 | 464 |
| Free Cash Flow (OCF − Capex proxy) | N/A | -995 | -891 | 464 |
| Cash Conversion (OCF / EBITDA) | N/A | N/A | N/A | N/A |
| 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 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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