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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 25,876 · FY2023 0 · FY2024 0 — 3-yr total 25,876
Elsivaikiki GE LLC is the Georgian arm of a Chinese state-owned infrastructure contractor active in roads and highways construction (part of the CRCC / CR23-related cluster executing East-West Highway and Kvesheti-Kobi-type projects). Exact Chinese parent identification uncertain.
Subsidiary of Saaktsio Sazogadoeba LC WAIKIKI MAGAZACLIK HIZMETLERI TICARET A.S. (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 37.4% | 28.9% | 33.7% | 29.9% | 37.3% | 42.8% | 32.2% | 25.5% |
| EBITDA Margin | 20.3% | 5.3% | 18.5% | 1.2% | 18.6% | 19.8% | 9.3% | 1.6% |
| EBITDAR | 34,173 | 16,356 | 27,470 | 1,187 | 25,559 | 53,883 | 36,152 | 3,911 |
| EBITDAR Margin | 29.1% | 14.0% | 19.7% | 1.2% | 18.6% | 26.8% | 16.7% | 1.6% |
| EBIT Margin | 17.3% | 1.6% | 9.5% | -10.3% | 10.3% | 17.0% | 7.0% | 1.6% |
| Net Profit Margin | 9.9% | -0.0% | 3.8% | -7.4% | 17.9% | 13.8% | 3.9% | -1.1% |
| Operating Expense % of Sales | 17.1% | 23.6% | 15.3% | 30.4% | 24.4% | 23.1% | 23.0% | 24.1% |
| Returns | ||||||||
| Return on Assets (ROA) | 30.2% | -0.1% | 6.2% | -9.4% | 25.1% | 20.3% | 4.9% | -2.0% |
| Return on Equity (ROE) | 36.6% | -0.1% | 13.8% | -23.7% | 43.5% | 46.2% | 12.5% | -4.2% |
| ROIC [EBIT / Invested Capital] | 73.3% | 6.9% | 19.4% | -24.5% | 22.2% | 102.4% | 47.7% | 7.0% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 0.0% | 0.0% | 45.2% | 26.0% | 28.8% | 17.0% | 18.7% | 24.1% |
| Debt-to-Equity | 0.00x | 0.00x | 1.01x | 0.66x | 0.50x | 0.39x | 0.48x | 0.51x |
| Debt-to-EBITDA | 0.00x | 0.00x | 1.51x | 17.61x | 1.11x | 0.58x | 1.61x | 8.80x |
| Equity-to-Assets | 82.6% | 79.5% | 44.7% | 39.6% | 57.6% | 44.0% | 39.4% | 46.8% |
| Net Debt | -4,002 | -5,275 | 30,417 | 11,243 | 7,087 | -26,613 | -35,902 | -10,823 |
| Cash & Equivalents | 4,002 | 5,275 | 8,356 | 9,656 | 21,353 | 49,777 | 68,002 | 45,229 |
| Total Debt | N/A | N/A | 38,773 | 20,899 | 28,440 | 23,164 | 32,100 | 34,406 |
| Liquidity & working capital | ||||||||
| Current Ratio | 3.48x | 2.88x | 3.60x | 1.39x | 3.38x | 1.56x | 1.57x | 2.05x |
| Quick Ratio | 1.35x | 1.05x | 1.41x | 0.47x | 1.88x | 1.01x | 1.03x | 1.26x |
| Cash Ratio | 0.61x | 0.65x | 0.97x | 0.35x | 1.59x | 0.93x | 0.95x | 1.09x |
| Total Current Assets | 22,748 | 23,424 | 31,086 | 38,282 | 45,413 | 83,308 | 112,705 | 85,052 |
| Total Current Liabilities | 6,538 | 8,146 | 8,639 | 27,557 | 13,425 | 53,298 | 71,640 | 41,430 |
| Inventory | 13,908 | 14,867 | 18,876 | 25,218 | 20,193 | 29,376 | 38,800 | 32,649 |
| Trade Receivables | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Trade Payables | 5,133 | 6,617 | 7,664 | N/A | 4,821 | 42,166 | 63,578 | 32,085 |
| Net Working Capital | 16,210 | 15,278 | 22,447 | 10,725 | 31,988 | 30,010 | 41,065 | 43,622 |
| Net Working Capital % of Revenue | 13.8% | 13.1% | 16.1% | 10.5% | 23.2% | 14.9% | 19.0% | 17.5% |
| Trade Working Capital | 8,775 | 8,250 | 11,212 | 25,218 | 15,372 | -12,790 | -24,778 | 564 |
| Trade Working Capital % of Revenue | 7.5% | 7.1% | 8.0% | 24.7% | 11.2% | -6.4% | -11.5% | 0.2% |
| Change in Trade Working Capital | N/A | -525 | 2,962 | 14,006 | -9,846 | -28,162 | -11,988 | 25,342 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 5.28x | 5.59x | 4.90x | 2.84x | 4.28x | 3.92x | 3.78x | 5.69x |
| Days Inventory Outstanding (DIO) | 69.1 | 65.3 | 74.5 | 128.5 | 85.4 | 93.1 | 96.7 | 64.2 |
| Receivables Turnover | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Days Sales Outstanding (DSO) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Payables Turnover | 14.31x | 12.55x | 12.06x | N/A | 17.91x | 2.73x | 2.30x | 5.79x |
| Days Payable Outstanding (DPO) | 25.5 | 29.1 | 30.3 | N/A | 20.4 | 133.7 | 158.4 | 63.1 |
| Cash Conversion Cycle | 43.6 days | 36.3 days | 44.3 days | 128.5 days | 65.0 days | -40.5 days | -61.7 days | 1.1 days |
| Asset Turnover | 3.06x | 2.90x | 1.63x | 1.27x | 1.40x | 1.48x | 1.26x | 1.75x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 12,855 | 7,056 | 15,259 | N/A | N/A | 70,393 | 31,101 | -11,303 |
| Free Cash Flow (OCF − Capex proxy) | 12,855 | 1,048 | 9,114 | N/A | N/A | 62,253 | 26,299 | -14,305 |
| Cash Conversion (OCF / EBITDA) | 53.9% | 113.7% | 59.2% | N/A | N/A | 176.8% | 155.5% | -289.0% |
| Dividends Declared | 10,100 | 0 | 0 | N/A | 0 | 25,876 | 0 | 0 |
| Dividend Payout Ratio | 87.2% | N/A | 0.0% | N/A | 0.0% | 93.4% | 0.0% | N/A |
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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