Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	29.4%	27.1%	36.4%	40.3%	41.2%	32.9%	44.1%
EBITDA Margin	11.6%	14.6%	18.7%	8.3%	17.6%	16.4%	17.6%
EBITDAR	337	784	740	241	833	1,607	1,333
EBITDAR Margin	12.3%	15.0%	19.3%	10.9%	19.1%	17.1%	18.6%
EBIT Margin	11.4%	14.5%	18.5%	7.2%	17.0%	16.1%	17.2%
Net Profit Margin	11.4%	13.3%	17.6%	10.5%	17.7%	16.1%	16.1%
Operating Expense % of Sales	17.9%	12.6%	17.7%	32.1%	23.6%	16.5%	26.5%
Returns
Return on Assets (ROA)	23.8%	31.5%	30.3%	7.9%	18.3%	29.2%	18.0%
Return on Equity (ROE)	41.4%	49.3%	33.6%	10.5%	26.4%	35.4%	23.0%
ROIC [EBIT / Invested Capital]	80.2%	66.3%	56.2%	8.3%	30.6%	54.9%	35.2%
Leverage & debt balances
Debt-to-Assets	0.0%	0.0%	0.0%	12.4%	6.5%	4.8%	2.6%
Debt-to-Equity	0.00x	0.00x	0.00x	0.16x	0.09x	0.06x	0.03x
Debt-to-EBITDA	0.00x	0.00x	0.00x	1.98x	0.36x	0.16x	0.13x
Equity-to-Assets	57.5%	63.8%	90.2%	75.4%	69.3%	82.6%	78.3%
Net Debt	-363	-266	-740	-269	-511	-1,506	-1,504
Cash & Equivalents	363	266	740	630	783	1,757	1,671
Total Debt	N/A	N/A	N/A	361	272	251	167
Liquidity & working capital
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Quick Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Current Assets	846	1,088	1,301	2,557	3,870	4,831	6,076
Total Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Inventory	N/A	823	561	N/A	N/A	N/A	N/A
Trade Receivables	391	926	892	1,114	1,900	1,262	1,371
Trade Payables	556	799	217	272	948	637	483
Net Working Capital	846	1,088	1,301	2,557	3,870	4,831	6,076
Net Working Capital % of Revenue	30.8%	20.8%	33.9%	115.9%	88.9%	51.3%	84.7%
Trade Working Capital	-166	950	1,236	842	952	625	888
Trade Working Capital % of Revenue	-6.0%	18.1%	32.2%	38.2%	21.9%	6.6%	12.4%
Change in Trade Working Capital	N/A	1,115	286	-394	110	-327	263
Turnover & efficiency
Inventory Turnover	N/A	4.64x	4.35x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	78.7	83.9	N/A	N/A	N/A	N/A
Receivables Turnover	7.01x	5.66x	4.30x	1.98x	2.29x	7.46x	5.23x
Days Sales Outstanding (DSO)	52.1	64.5	84.9	184.2	159.3	48.9	69.8
Payables Turnover	3.48x	4.78x	11.23x	4.84x	2.70x	9.91x	8.30x
Days Payable Outstanding (DPO)	105.0	76.3	32.5	75.4	135.1	36.8	44.0
Cash Conversion Cycle	-52.9 days	66.8 days	136.3 days	108.9 days	24.2 days	12.1 days	25.8 days
Asset Turnover	2.09x	2.37x	1.73x	0.76x	1.03x	1.82x	1.12x
Cash flow & dividends
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow (OCF − Capex proxy)	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash Conversion (OCF / EBITDA)	N/A	N/A	N/A	N/A	N/A	N/A	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