Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	38.4%	40.3%	42.1%	42.7%	38.7%	41.7%	36.2%
EBITDA Margin	21.6%	30.0%	25.0%	23.6%	13.5%	3.9%	-0.4%
EBITDAR	1,166	1,724	2,115	2,254	1,249	323	86
EBITDAR Margin	22.9%	31.5%	25.7%	24.7%	14.8%	5.8%	1.6%
EBIT Margin	19.6%	28.0%	23.5%	22.2%	12.0%	1.6%	-2.8%
Net Profit Margin	12.3%	18.1%	14.2%	21.4%	13.9%	3.0%	-4.6%
Operating Expense % of Sales	16.8%	10.3%	17.2%	19.2%	25.2%	37.8%	36.6%
Returns
Return on Assets (ROA)	6.3%	9.7%	10.3%	16.1%	10.2%	1.4%	-1.8%
Return on Equity (ROE)	11.2%	15.7%	15.4%	20.5%	11.5%	1.6%	-2.5%
ROIC [EBIT / Invested Capital]	11.3%	16.3%	18.5%	19.2%	9.2%	0.8%	-1.2%
Leverage & liquidity
Debt-to-Assets	34.1%	31.6%	29.2%	18.2%	10.8%	5.4%	21.0%
Debt-to-Equity	0.61x	0.51x	0.44x	0.23x	0.12x	0.06x	0.29x
Debt-to-EBITDA	3.11x	1.96x	1.61x	1.03x	1.08x	3.00x	N/A
Equity-to-Assets	55.9%	62.1%	66.8%	78.7%	89.2%	86.3%	72.5%
Net Debt	3,224	3,076	2,899	1,005	888	605	2,675
Cash & Equivalents	184	148	412	1,203	349	47	262
Total Debt	3,409	3,223	3,311	2,208	1,237	652	2,937
Efficiency & working capital
Inventory Turnover	N/A	1.71x	1.91x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	213.0	190.7	N/A	N/A	N/A	N/A
Receivables Turnover	0.95x	2.10x	2.34x	2.46x	2.21x	1.07x	1.12x
Days Sales Outstanding (DSO)	385.5	173.7	156.1	148.3	164.9	340.9	324.8
Payables Turnover	3.18x	5.11x	11.19x	14.05x	N/A	3.23x	3.82x
Days Payable Outstanding (DPO)	114.8	71.5	32.6	26.0	N/A	112.9	95.6
Cash Conversion Cycle	270.6 days	315.2 days	314.2 days	122.3 days	164.9 days	228.1 days	229.2 days
Asset Turnover	0.51x	0.54x	0.73x	0.75x	0.74x	0.46x	0.39x
Cash flow & dividends
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow (OCF − Capex proxy)	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash Conversion (OCF / EBITDA)	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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 ₾ '000. Margins, returns and payout are percentages; turnover and leverage are multiples; DIO/DSO/DPO are days. Hover a metric name for its definition.

Ownership & group structure

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.

companyinfo.ge · fetched 2026-07-15