Ratio	2019	2020	2021	2022	2023
Margins
Gross Margin	7.7%	18.5%	7.1%	13.7%	10.3%
EBITDA Margin	1.6%	11.0%	-1.1%	6.0%	2.1%
EBITDAR	107	652	-49	357	156
EBITDAR Margin	2.0%	11.4%	-0.7%	6.3%	2.5%
EBIT Margin	1.6%	11.0%	-1.1%	5.9%	2.0%
Net Profit Margin	1.8%	9.4%	-2.7%	4.3%	2.4%
Operating Expense % of Sales	6.1%	7.5%	8.2%	7.8%	8.2%
Returns
Return on Assets (ROA)	5.6%	28.7%	-13.2%	11.5%	22.0%
Return on Equity (ROE)	N/A	162.9%	-117.5%	61.6%	27.3%
ROIC [EBIT / Invested Capital]	N/A	496.6%	N/A	N/A	28.2%
Leverage & liquidity
Debt-to-Assets	0.0%	0.0%	0.0%	0.0%	0.0%
Debt-to-Equity	-0.00x	0.00x	0.00x	0.00x	0.00x
Debt-to-EBITDA	0.00x	0.00x	N/A	0.00x	0.00x
Equity-to-Assets	-11.9%	17.6%	11.2%	18.6%	80.4%
Net Debt	-214	-203	-210	-411	-94
Cash & Equivalents	214	203	210	411	94
Total Debt	N/A	N/A	N/A	N/A	N/A
Efficiency & working capital
Inventory Turnover	28.34x	12.92x	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	12.9	28.3	N/A	N/A	N/A
Receivables Turnover	3.91x	4.43x	8.97x	4.30x	34.94x
Days Sales Outstanding (DSO)	93.5	82.4	40.7	84.9	10.4
Payables Turnover	2.49x	3.03x	5.14x	2.83x	41.86x
Days Payable Outstanding (DPO)	146.7	120.5	71.0	129.0	8.7
Cash Conversion Cycle	-40.4 days	-9.8 days	-30.3 days	-44.1 days	1.7 days
Asset Turnover	3.02x	3.06x	4.91x	2.67x	9.15x
Cash flow & dividends
Operating Cash Flow	-4	-11	6	201	12,305
Free Cash Flow (OCF − Capex proxy)	-4	-11	6	201	12,305
Cash Conversion (OCF / EBITDA)	-4.4%	-1.7%	N/A	59.7%	9529.6%
Dividends Declared	N/A	N/A	N/A	N/A	N/A
Dividend Payout Ratio	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