Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	54.5%	51.6%	55.5%	53.4%	56.0%	63.7%	60.3%
EBITDA Margin	38.1%	38.0%	35.1%	31.9%	31.2%	32.7%	26.4%
EBITDAR	888	1,064	809	979	1,100	1,307	1,311
EBITDAR Margin	39.5%	39.2%	36.5%	32.9%	32.1%	33.4%	27.1%
EBIT Margin	34.8%	35.0%	31.1%	28.0%	26.1%	28.6%	23.1%
Net Profit Margin	32.9%	33.6%	17.5%	29.4%	28.3%	26.0%	19.9%
Operating Expense % of Sales	16.3%	13.5%	20.4%	21.5%	24.8%	31.0%	33.9%
Returns
Return on Assets (ROA)	41.1%	49.3%	23.4%	55.6%	47.9%	39.5%	33.2%
Return on Equity (ROE)	60.2%	576.3%	88.0%	73.9%	52.8%	43.0%	34.7%
ROIC [EBIT / Invested Capital]	58.3%	115.7%	78.9%	57.9%	50.0%	53.0%	48.4%
Leverage & liquidity
Debt-to-Assets	31.7%	41.4%	31.8%	22.6%	7.4%	5.2%	1.6%
Debt-to-Equity	0.46x	4.84x	1.20x	0.30x	0.08x	0.06x	0.02x
Debt-to-EBITDA	0.66x	0.74x	0.68x	0.37x	0.14x	0.10x	0.04x
Equity-to-Assets	68.3%	8.6%	26.6%	75.3%	90.8%	92.0%	95.9%
Net Debt	114	664	435	253	-46	-257	-464
Cash & Equivalents	457	102	93	102	196	390	510
Total Debt	571	766	528	355	150	133	46
Efficiency & working capital
Inventory Turnover	N/A	2.53x	2.15x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	144.2	169.6	N/A	N/A	N/A	N/A
Receivables Turnover	15.00x	33.99x	118.98x	62.96x	26.34x	18.12x	14.06x
Days Sales Outstanding (DSO)	24.3	10.7	3.1	5.8	13.9	20.1	26.0
Payables Turnover	N/A	129.72x	77.39x	247.10x	401.94x	169.45x	171.31x
Days Payable Outstanding (DPO)	N/A	2.8	4.7	1.5	0.9	2.2	2.1
Cash Conversion Cycle	24.3 days	152.1 days	167.9 days	4.3 days	12.9 days	18.0 days	23.8 days
Asset Turnover	1.25x	1.47x	1.34x	1.89x	1.69x	1.52x	1.67x
Cash flow & dividends
Operating Cash Flow	51	-135	N/A	N/A	N/A	N/A	N/A
Free Cash Flow (OCF − Capex proxy)	51	-135	N/A	N/A	N/A	N/A	N/A
Cash Conversion (OCF / EBITDA)	5.9%	-13.1%	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