Ratio	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	41.0%	41.0%	44.6%	38.0%	40.3%	40.7%
EBITDA Margin	32.5%	31.6%	33.9%	29.4%	29.6%	28.8%
EBITDAR	723	683	992	1,206	1,096	1,188
EBITDAR Margin	34.2%	33.4%	37.1%	32.2%	32.5%	31.8%
EBIT Margin	32.4%	31.5%	33.6%	29.2%	29.4%	28.4%
Net Profit Margin	24.2%	24.6%	25.4%	20.4%	25.6%	22.4%
Operating Expense % of Sales	8.5%	9.4%	10.7%	8.7%	10.7%	11.9%
Returns
Return on Assets (ROA)	33.1%	24.4%	21.5%	28.4%	29.1%	25.0%
Return on Equity (ROE)	38.4%	33.4%	37.0%	47.7%	39.6%	34.0%
ROIC [EBIT / Invested Capital]	44.8%	34.2%	35.4%	41.4%	34.7%	33.3%
Leverage & liquidity
Debt-to-Assets	13.8%	26.9%	41.9%	40.5%	26.5%	26.4%
Debt-to-Equity	0.16x	0.37x	0.72x	0.68x	0.36x	0.36x
Debt-to-EBITDA	0.31x	0.86x	1.46x	0.99x	0.79x	0.82x
Equity-to-Assets	86.2%	73.1%	58.1%	59.5%	73.5%	73.6%
Net Debt	200	374	706	1,037	679	722
Cash & Equivalents	14	183	619	53	109	161
Total Debt	214	557	1,325	1,090	788	883
Efficiency & working capital
Inventory Turnover	1.00x	0.70x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	363.4	518.9	N/A	N/A	N/A	N/A
Receivables Turnover	53.46x	33.84x	40.41x	31.67x	17.44x	19.77x
Days Sales Outstanding (DSO)	6.8	10.8	9.0	11.5	20.9	18.5
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	370.3 days	529.6 days	9.0 days	11.5 days	20.9 days	18.5 days
Asset Turnover	1.37x	0.99x	0.85x	1.39x	1.13x	1.12x
Cash flow & dividends
Operating Cash Flow	-103	482	436	9,083	8,640	9,168
Free Cash Flow (OCF − Capex proxy)	-106	482	436	9,083	8,640	9,168
Cash Conversion (OCF / EBITDA)	-15.0%	74.5%	48.1%	826.0%	867.3%	852.3%
Dividends Declared	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

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