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Dividends declared (per SOCE filings): FY2016 0 · FY2017 250 · FY2018 307 — 3-yr total 557
City Loft LLC (სითი ლოფტი) is the holding company of Adjara Group, the hospitality and urban-development group founded in 2010 by Temur Ugulava (died June 2026), who owned City Loft outright. Adjara Group reports 15 buildings, 10 brands and ~1,700 staff: Rooms Hotels (Tbilisi, Batumi, Kazbegi, Abastumani), Stamba, Fabrika, Holiday Inn Tbilisi, Radio City (the former Mukhiani radio-plant site, via 100%-owned Industrial City LLC), Lolita, Shukura, Padel and the Udabno regenerative farm. City Loft also held 49% of Atlas LLC (404569944), the Adjarabet operator, after selling 51% to Paddy Power Betfair, now Flutter, on 1 February 2019 for £101m; the remaining 49% went to Flutter on 1 July 2022 for $251m. Filings cover FY2016-18 only, with 1,650 employees at the last one; FY2018 revenue ₾235m consolidates Adjarabet (₾215m that year), so the series is not a hospitality-only view. Adjara Group LLC files separately (205090890 to FY2021; 404676169 from FY2023).
Group parent — controls 1 company · ownership
| Ratio | 2017 | 2018 |
|---|---|---|
| Margins | ||
| Gross Margin | 96.9% | 95.7% |
| EBITDA Margin | 51.8% | 56.4% |
| EBITDAR | 85,165 | 136,322 |
| EBITDAR Margin | 53.1% | 58.0% |
| EBIT Margin | 48.1% | 51.7% |
| Net Profit Margin | 12.8% | 20.7% |
| Operating Expense % of Sales | 45.1% | 39.2% |
| Returns | ||
| Return on Assets (ROA) | 10.6% | 15.1% |
| Return on Equity (ROE) | N/A | N/A |
| ROIC [EBIT / Invested Capital] | 47.8% | 52.3% |
| Leverage & debt balances | ||
| Debt-to-Assets | 88.7% | 98.8% |
| Debt-to-Equity | -56.76x | -3.82x |
| Debt-to-EBITDA | 2.08x | 2.41x |
| Equity-to-Assets | -1.6% | -25.9% |
| Net Debt | 164,236 | 316,082 |
| Cash & Equivalents | 8,143 | 3,190 |
| Total Debt | 172,379 | 319,272 |
| Liquidity & working capital | ||
| Current Ratio | 0.30x | 0.12x |
| Quick Ratio | 0.30x | 0.12x |
| Cash Ratio | 0.12x | 0.02x |
| Total Current Assets | 20,854 | 19,820 |
| Total Current Liabilities | 68,897 | 159,373 |
| Inventory | N/A | N/A |
| Trade Receivables | 5,472 | 9,760 |
| Trade Payables | 17,094 | 10,193 |
| Net Working Capital | -48,043 | -139,553 |
| Net Working Capital % of Revenue | -30.0% | -59.4% |
| Trade Working Capital | -11,622 | -433 |
| Trade Working Capital % of Revenue | -7.3% | -0.2% |
| Change in Trade Working Capital | N/A | 11,189 |
| Turnover & efficiency | ||
| Inventory Turnover | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | N/A |
| Receivables Turnover | 29.29x | 24.09x |
| Days Sales Outstanding (DSO) | 12.5 | 15.2 |
| Payables Turnover | 0.29x | 1.00x |
| Days Payable Outstanding (DPO) | 1247.9 | 365.3 |
| Cash Conversion Cycle | -1235.4 days | -350.2 days |
| Asset Turnover | 0.82x | 0.73x |
| Cash flow & dividends | ||
| Operating Cash Flow | -26,658 | 24,180 |
| Free Cash Flow (OCF − Capex proxy) | -26,658 | 24,180 |
| Cash Conversion (OCF / EBITDA) | -32.1% | 18.2% |
| Dividends Declared | 250 | 307 |
| Dividend Payout Ratio | 1.2% | 0.6% |
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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