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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 0 · FY2023 0
Operates in Professional & Business Services — Management Consulting. Per the activity note to the FY2023 annual report, the company provides management consulting services.
Subsidiary of Holding Georgian Industrial Group (100.0%)
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| EBITDA Margin | -15.3% | 2.1% | 18.9% | 2.7% | -4.2% | -0.3% |
| EBITDAR | -757 | 175 | 887 | 187 | -184 | -21 |
| EBITDAR Margin | -14.2% | 3.2% | 20.3% | 4.2% | -4.2% | -0.3% |
| EBIT Margin | -17.8% | -1.0% | 12.9% | -4.8% | -9.4% | -3.7% |
| Net Profit Margin | -15.4% | -1.3% | 19.0% | 2.7% | -7.2% | 0.5% |
| Operating Expense % of Sales | 115.3% | 97.9% | 81.1% | 97.3% | 104.2% | 100.3% |
| Returns | ||||||
| Return on Assets (ROA) | -45.9% | -4.1% | 46.5% | 7.1% | -23.4% | 0.2% |
| Return on Equity (ROE) | -59.2% | -10.1% | 88.6% | 13.1% | -53.2% | 5.3% |
| ROIC [EBIT / Invested Capital] | -79.3% | -11.8% | 60.6% | -28.9% | -72.2% | -2554.2% |
| Leverage & debt balances | ||||||
| Debt-to-Assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Debt-to-Equity | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Debt-to-EBITDA | N/A | 0.00x | 0.00x | 0.00x | N/A | N/A |
| Equity-to-Assets | 77.6% | 40.1% | 52.5% | 53.9% | 43.9% | 3.6% |
| Net Debt | -188 | -226 | -9 | -161 | -23 | -616 |
| Cash & Equivalents | 188 | 226 | 9 | 161 | 23 | 616 |
| Total Debt | N/A | N/A | N/A | N/A | N/A | N/A |
| Liquidity & working capital | ||||||
| Current Ratio | 2.71x | 0.90x | 1.22x | 1.54x | 1.12x | 0.34x |
| Quick Ratio | 2.71x | 0.84x | 1.14x | 1.54x | 1.12x | 0.34x |
| Cash Ratio | 0.47x | 0.22x | 0.01x | 0.21x | 0.03x | 0.04x |
| Total Current Assets | 1,084 | 942 | 1,027 | 1,200 | 851 | 5,754 |
| Total Current Liabilities | 400 | 1,048 | 845 | 780 | 760 | 16,757 |
| Inventory | N/A | 61 | 64 | N/A | N/A | N/A |
| Trade Receivables | 682 | 535 | 822 | 650 | 344 | 619 |
| Trade Payables | 303 | 1,024 | 842 | 780 | 760 | 16,757 |
| Net Working Capital | 685 | -105 | 182 | 420 | 91 | -11,003 |
| Net Working Capital % of Revenue | 12.8% | -1.9% | 4.2% | 9.3% | 2.1% | -157.7% |
| Trade Working Capital | 379 | -428 | 44 | -130 | -416 | -16,138 |
| Trade Working Capital % of Revenue | 7.1% | -7.7% | 1.0% | -2.9% | -9.5% | -231.3% |
| Change in Trade Working Capital | N/A | -807 | 472 | -174 | -285 | -15,722 |
| Turnover & efficiency | ||||||
| Inventory Turnover | N/A | N/A | N/A | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | N/A | N/A | N/A | N/A | N/A |
| Receivables Turnover | 7.81x | 10.35x | 5.32x | 6.92x | 12.76x | 11.27x |
| Days Sales Outstanding (DSO) | 46.7 | 35.3 | 68.7 | 52.7 | 28.6 | 32.4 |
| Payables Turnover | N/A | N/A | N/A | N/A | N/A | N/A |
| Days Payable Outstanding (DPO) | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash Conversion Cycle | 46.7 days | 35.3 days | 68.7 days | 52.7 days | 28.6 days | 32.4 days |
| Asset Turnover | 2.99x | 3.16x | 2.45x | 2.66x | 3.24x | 0.40x |
| Cash flow & dividends | ||||||
| Operating Cash Flow | -1,137 | 474 | 617 | 364 | 179 | 2,251 |
| Free Cash Flow (OCF − Capex proxy) | 154 | 42 | -232 | 153 | -134 | 562 |
| Cash Conversion (OCF / EBITDA) | N/A | 414.5% | 75.0% | 304.1% | N/A | N/A |
| Dividends Declared | N/A | N/A | N/A | N/A | 0 | 0 |
| Dividend Payout Ratio | N/A | N/A | N/A | N/A | N/A | 0.0% |
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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