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* 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
Operating company for Georgia Capital's renewable-energy business (Georgian Renewable Power). Runs the group's hydropower plants (Mestiachala and the Hydrolea small-hydro portfolio) and the 21 MW Qartli wind farm — ~71 MW of operational capacity in total. Wholly owned by Georgia Capital PLC (LSE: CGEO).
Group parent — controls 6 companies · ownership
| Ratio | 2022 | 2023 | 2024 |
|---|---|---|---|
| Margins | |||
| Gross Margin | 98.7% | 95.3% | 94.7% |
| EBITDA Margin | 83.0% | 73.5% | 77.0% |
| EBITDAR | 35,056 | 28,017 | 33,876 |
| EBITDAR Margin | 83.0% | 73.5% | 77.0% |
| EBIT Margin | 58.0% | 48.7% | 55.0% |
| Net Profit Margin | 2.7% | 4.2% | 18.4% |
| Operating Expense % of Sales | 15.7% | 21.8% | 17.6% |
| Returns | |||
| Return on Assets (ROA) | 0.4% | 0.6% | 3.2% |
| Return on Equity (ROE) | 2.4% | 3.2% | 17.0% |
| ROIC [EBIT / Invested Capital] | 9.5% | 7.4% | 10.0% |
| Leverage & debt balances | |||
| Debt-to-Assets | 81.7% | 81.2% | 80.7% |
| Debt-to-Equity | 4.61x | 4.50x | 4.34x |
| Debt-to-EBITDA | 6.33x | 8.01x | 6.10x |
| Equity-to-Assets | 17.7% | 18.1% | 18.6% |
| Net Debt | 209,445 | 200,567 | 194,198 |
| Cash & Equivalents | 12,370 | 23,821 | 12,438 |
| Total Debt | 221,815 | 224,388 | 206,636 |
| Liquidity & working capital | |||
| Current Ratio | 1.96x | 5.79x | 3.41x |
| Quick Ratio | 1.93x | 5.76x | 3.34x |
| Cash Ratio | 1.39x | 4.70x | 2.70x |
| Total Current Assets | 17,452 | 29,363 | 15,698 |
| Total Current Liabilities | 8,882 | 5,069 | 4,604 |
| Inventory | 335 | 190 | 339 |
| Trade Receivables | 1,678 | 2,484 | 2,364 |
| Trade Payables | 1,173 | 1,590 | 1,334 |
| Net Working Capital | 8,570 | 24,294 | 11,094 |
| Net Working Capital % of Revenue | 20.3% | 63.7% | 25.2% |
| Trade Working Capital | 840 | 1,084 | 1,369 |
| Trade Working Capital % of Revenue | 2.0% | 2.8% | 3.1% |
| Change in Trade Working Capital | N/A | 244 | 285 |
| Turnover & efficiency | |||
| Inventory Turnover | 1.64x | 9.39x | 6.93x |
| Days Inventory Outstanding (DIO) | 223.1 | 38.9 | 52.7 |
| Receivables Turnover | 25.16x | 15.35x | 18.61x |
| Days Sales Outstanding (DSO) | 14.5 | 23.8 | 19.6 |
| Payables Turnover | 0.47x | 1.12x | 1.76x |
| Days Payable Outstanding (DPO) | 781.3 | 325.1 | 207.4 |
| Cash Conversion Cycle | -543.7 days | -262.5 days | -135.1 days |
| Asset Turnover | 0.16x | 0.14x | 0.17x |
| Cash flow & dividends | |||
| Operating Cash Flow | 40,597 | 26,092 | 34,538 |
| Free Cash Flow (OCF − Capex proxy) | 28,087 | 23,663 | 29,399 |
| Cash Conversion (OCF / EBITDA) | 115.8% | 93.1% | 102.0% |
| Dividends Declared | 0 | 0 | 0 |
| Dividend Payout Ratio | 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).
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