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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 · FY2024 0
Beer and beverage producer associated with the Zedazeni brand, one of Georgia's well-known mass-market beer brands, also producing lemonades and bottled water.
Subsidiary of Georgian Beer Company (100.0%)
| Ratio | 2017 | 2018 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross Margin | 10.7% | 12.8% | 9.1% | 7.1% | 9.3% | 8.7% | 8.0% |
| EBITDA Margin | 4.6% | 5.3% | -2.6% | -2.4% | 0.4% | 0.4% | -0.4% |
| EBITDAR | 2,342 | 2,775 | -1,201 | -1,493 | 1,037 | 1,545 | 256 |
| EBITDAR Margin | 5.5% | 6.1% | -2.3% | -1.9% | 0.9% | 1.0% | 0.2% |
| EBIT Margin | 4.4% | 5.0% | -3.3% | -3.0% | -0.0% | 0.1% | -0.8% |
| Net Profit Margin | -2.8% | -4.0% | -4.3% | -3.7% | -0.3% | -0.6% | -1.5% |
| Operating Expense % of Sales | 6.1% | 7.5% | 11.7% | 9.5% | 8.9% | 8.3% | 8.5% |
| Returns | |||||||
| Return on Assets (ROA) | -17.8% | -28.8% | -20.6% | -24.9% | -1.7% | -3.8% | -9.7% |
| Return on Equity (ROE) | N/A | N/A | N/A | N/A | N/A | -40.6% | N/A |
| ROIC [EBIT / Invested Capital] | N/A | N/A | N/A | N/A | N/A | 8.2% | -63.3% |
| Leverage & debt balances | |||||||
| Debt-to-Assets | 0.0% | 47.9% | 8.1% | 3.8% | 0.9% | 2.2% | 11.7% |
| Debt-to-Equity | -0.00x | -0.88x | -0.09x | -0.04x | -0.01x | 0.24x | -8.07x |
| Debt-to-EBITDA | 0.00x | 1.25x | N/A | N/A | 0.33x | 0.80x | N/A |
| Equity-to-Assets | -24.2% | -54.4% | -85.8% | -104.3% | -73.6% | 9.3% | -1.4% |
| Net Debt | -597 | 2,786 | 472 | 170 | -405 | -358 | 2,463 |
| Cash & Equivalents | 597 | 214 | 410 | 279 | 559 | 871 | 562 |
| Total Debt | N/A | 3,000 | 882 | 449 | 154 | 513 | 3,025 |
| Liquidity & working capital | |||||||
| Current Ratio | 0.66x | 0.45x | 0.42x | 0.40x | 0.51x | 0.99x | 0.85x |
| Quick Ratio | 0.66x | 0.45x | 0.33x | 0.34x | 0.45x | 0.84x | 0.76x |
| Cash Ratio | 0.07x | 0.02x | 0.02x | 0.01x | 0.02x | 0.04x | 0.02x |
| Total Current Assets | 5,438 | 4,376 | 8,241 | 9,551 | 15,155 | 20,273 | 20,541 |
| Total Current Liabilities | 8,241 | 9,675 | 19,826 | 23,964 | 29,717 | 20,375 | 24,095 |
| Inventory | N/A | N/A | 1,617 | 1,476 | 1,857 | 3,204 | 2,148 |
| Trade Receivables | 4,690 | 4,126 | 5,786 | 7,470 | 12,428 | 16,152 | 17,768 |
| Trade Payables | 8,241 | 6,675 | 19,408 | 23,668 | 29,563 | 20,270 | 23,233 |
| Net Working Capital | -2,803 | -5,299 | -11,585 | -14,413 | -14,562 | -102 | -3,554 |
| Net Working Capital % of Revenue | -6.6% | -11.7% | -22.4% | -18.1% | -13.1% | -0.1% | -2.2% |
| Trade Working Capital | -3,551 | -2,549 | -12,005 | -14,722 | -15,278 | -914 | -3,317 |
| Trade Working Capital % of Revenue | -8.3% | -5.6% | -23.2% | -18.5% | -13.7% | -0.6% | -2.0% |
| Change in Trade Working Capital | N/A | 1,002 | N/A | -2,717 | -556 | 14,364 | -2,403 |
| Turnover & efficiency | |||||||
| Inventory Turnover | N/A | N/A | 29.07x | 49.99x | 54.41x | 42.52x | 69.54x |
| Days Inventory Outstanding (DIO) | N/A | N/A | 12.6 | 7.3 | 6.7 | 8.6 | 5.2 |
| Receivables Turnover | 9.11x | 10.99x | 8.94x | 10.63x | 8.97x | 9.24x | 9.14x |
| Days Sales Outstanding (DSO) | 40.1 | 33.2 | 40.8 | 34.3 | 40.7 | 39.5 | 39.9 |
| Payables Turnover | 4.63x | 5.93x | 2.42x | 3.12x | 3.42x | 6.72x | 6.43x |
| Days Payable Outstanding (DPO) | 78.8 | 61.6 | 150.7 | 117.1 | 106.8 | 54.3 | 56.8 |
| Cash Conversion Cycle | -38.8 days | -28.4 days | -97.3 days | -75.4 days | -59.4 days | -6.2 days | -11.6 days |
| Asset Turnover | 6.44x | 7.24x | 4.74x | 6.73x | 6.51x | 6.51x | 6.28x |
| Cash flow & dividends | |||||||
| Operating Cash Flow | 1,139 | -2,754 | 694 | 311 | 746 | 1,153 | 647 |
| Free Cash Flow (OCF − Capex proxy) | 1,139 | -2,754 | 549 | 274 | 569 | 404 | -2,712 |
| Cash Conversion (OCF / EBITDA) | 58.1% | -114.7% | N/A | N/A | 161.8% | 179.8% | N/A |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 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 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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