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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Operates in Alcoholic Beverages — Production - Spirits. Per the activity note to the FY2023 annual report, the company produces distilled alcoholic beverages and exports spirits distilled and rectified abroad.
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross Margin | 25.6% | 27.7% | 26.7% | 29.6% | 22.5% | 37.4% |
| EBITDA Margin | 16.0% | 26.3% | 23.1% | 27.8% | 21.9% | 32.2% |
| EBITDAR | 1,629 | 3,205 | 4,108 | 6,410 | 3,250 | 3,474 |
| EBITDAR Margin | 16.2% | 26.6% | 23.2% | 27.9% | 22.0% | 32.4% |
| EBIT Margin | 15.9% | 26.3% | 22.7% | 27.7% | 21.0% | 31.0% |
| Net Profit Margin | 13.9% | 23.9% | 24.9% | 21.7% | 18.5% | 28.5% |
| Operating Expense % of Sales | 9.6% | 1.4% | 3.6% | 1.8% | 0.6% | 5.2% |
| Returns | ||||||
| Return on Assets (ROA) | 10.4% | 21.9% | 26.7% | 31.1% | 18.3% | 16.8% |
| Return on Equity (ROE) | 55.1% | 55.1% | 88.5% | 196.3% | 174.1% | 98.6% |
| ROIC [EBIT / Invested Capital] | 90.9% | 113.7% | N/A | 1788.4% | N/A | N/A |
| 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 | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Equity-to-Assets | 18.9% | 39.8% | 30.2% | 15.8% | 10.5% | 17.0% |
| Net Debt | -783 | -2,438 | -5,463 | -2,178 | -1,640 | -4,838 |
| Cash & Equivalents | 783 | 2,438 | 5,463 | 2,178 | 1,640 | 4,838 |
| Total Debt | N/A | N/A | N/A | N/A | N/A | N/A |
| Liquidity & working capital | ||||||
| Current Ratio | 1.23x | 1.66x | 1.27x | 0.94x | 0.86x | 0.98x |
| Quick Ratio | 1.23x | 1.10x | 0.99x | 0.94x | 0.86x | 0.98x |
| Cash Ratio | 0.07x | 0.31x | 0.47x | 0.16x | 0.12x | 0.32x |
| Total Current Assets | 13,392 | 13,099 | 14,658 | 12,651 | 11,474 | 14,782 |
| Total Current Liabilities | 10,891 | 7,906 | 11,534 | 13,457 | 13,376 | 15,098 |
| Inventory | N/A | 4,376 | 3,287 | N/A | N/A | N/A |
| Trade Receivables | 4,456 | 6,285 | 5,907 | 6,802 | 7,474 | 8,661 |
| Trade Payables | 10,891 | 7,906 | 11,534 | 13,357 | 13,376 | 15,090 |
| Net Working Capital | 2,500 | 5,194 | 3,124 | -806 | -1,903 | -316 |
| Net Working Capital % of Revenue | 24.8% | 43.1% | 17.6% | -3.5% | -12.9% | -3.0% |
| Trade Working Capital | -6,435 | 2,756 | -2,339 | -6,555 | -5,902 | -6,429 |
| Trade Working Capital % of Revenue | -63.8% | 22.8% | -13.2% | -28.5% | -40.0% | -60.0% |
| Change in Trade Working Capital | N/A | 9,191 | -5,095 | -4,217 | 653 | -526 |
| Turnover & efficiency | ||||||
| Inventory Turnover | N/A | 1.99x | 3.95x | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | 183.1 | 92.4 | N/A | N/A | N/A |
| Receivables Turnover | 2.26x | 1.92x | 3.00x | 3.38x | 1.97x | 1.24x |
| Days Sales Outstanding (DSO) | 161.4 | 190.2 | 121.8 | 108.1 | 184.9 | 295.1 |
| Payables Turnover | 0.69x | 1.10x | 1.13x | 1.21x | 0.86x | 0.44x |
| Days Payable Outstanding (DPO) | 529.9 | 330.8 | 324.3 | 301.5 | 426.9 | 821.6 |
| Cash Conversion Cycle | -368.5 days | 42.5 days | -110.1 days | -193.5 days | -242.0 days | -526.5 days |
| Asset Turnover | 0.75x | 0.92x | 1.07x | 1.44x | 0.99x | 0.59x |
| Cash flow & dividends | ||||||
| Operating Cash Flow | 1,041 | 1,603 | 8,512 | 3,771 | 2,693 | 4,806 |
| Free Cash Flow (OCF − Capex proxy) | 1,041 | 1,601 | 6,361 | 3,771 | 2,693 | 4,806 |
| Cash Conversion (OCF / EBITDA) | 64.8% | 50.4% | 208.4% | 59.1% | 83.5% | 139.3% |
| 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 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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