Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	15.9%	15.6%	15.5%	13.5%	12.0%	14.7%	15.3%
EBITDA Margin	2.6%	1.5%	-11.0%	3.8%	5.3%	1.2%	-0.3%
EBITDAR	362	288	-162	107	649	190	-40
EBITDAR Margin	3.0%	2.4%	-9.2%	3.8%	5.3%	1.2%	-0.3%
EBIT Margin	2.3%	1.3%	-12.6%	3.1%	5.2%	1.0%	-0.5%
Net Profit Margin	2.3%	0.3%	-16.7%	4.1%	5.3%	0.7%	-0.8%
Operating Expense % of Sales	13.3%	14.1%	26.5%	9.7%	6.7%	13.5%	15.6%
Returns
Return on Assets (ROA)	32.0%	4.5%	-71.7%	30.5%	72.4%	9.9%	-12.7%
Return on Equity (ROE)	44.4%	8.9%	-247.2%	49.0%	73.5%	11.4%	-14.6%
ROIC [EBIT / Invested Capital]	39.1%	23.1%	-68.1%	30.8%	140.8%	17.4%	-9.6%
Leverage & liquidity
Debt-to-Assets	16.9%	35.5%	52.8%	17.9%	0.0%	9.5%	5.6%
Debt-to-Equity	0.23x	0.70x	1.82x	0.29x	0.00x	0.11x	0.06x
Debt-to-EBITDA	0.47x	1.60x	N/A	0.63x	0.00x	0.57x	N/A
Equity-to-Assets	72.0%	50.7%	29.0%	62.3%	98.5%	87.0%	86.9%
Net Debt	93	253	206	49	-432	-35	-38
Cash & Equivalents	53	46	11	19	432	144	94
Total Debt	146	299	217	67	N/A	109	56
Efficiency & working capital
Inventory Turnover	N/A	3260.54x	2779.64x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	0.1	0.1	N/A	N/A	N/A	N/A
Receivables Turnover	45.44x	52.52x	28.06x	20.98x	777.33x	133.94x	90.43x
Days Sales Outstanding (DSO)	8.0	7.0	13.0	17.4	0.5	2.7	4.0
Payables Turnover	152.09x	127.31x	362.09x	49.78x	837.22x	346.23x	179.42x
Days Payable Outstanding (DPO)	2.4	2.9	1.0	7.3	0.4	1.1	2.0
Cash Conversion Cycle	5.6 days	4.2 days	12.1 days	10.1 days	0.0 days	1.7 days	2.0 days
Asset Turnover	13.93x	14.46x	4.28x	7.50x	13.59x	14.30x	15.47x
Cash flow & dividends
Operating Cash Flow	392	144	89	193	674	164	73
Free Cash Flow (OCF − Capex proxy)	296	-90	91	193	512	-351	73
Cash Conversion (OCF / EBITDA)	126.6%	77.1%	N/A	180.3%	103.8%	86.3%	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