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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 3,800 · FY2024 0 — 3-yr total 3,800
Operates in Healthcare Services — In-patient & out-patient services. Per the activity note to the FY2024 annual report, the company provides medical services including emergency care, ambulatory and in-patient treatment, neurology and intervention services. Founded 1979. Located in Saburtalo, Al. Kazbegi Avenue, 16, Tbilisi.
Subsidiary of Aversi-Pharma (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 83.2% | 81.5% | 79.9% | 79.4% | 78.3% | 76.6% | 77.7% | 79.9% |
| EBITDA Margin | 62.6% | 22.1% | 25.6% | 27.6% | 30.5% | 15.9% | 0.3% | 17.7% |
| EBITDAR | 5,451 | 3,899 | 4,718 | 6,849 | 12,518 | 4,493 | 66 | 4,938 |
| EBITDAR Margin | 71.4% | 27.2% | 25.6% | 28.4% | 30.9% | 16.4% | 0.3% | 17.7% |
| EBIT Margin | 49.4% | 10.5% | 13.9% | 19.5% | 25.2% | 7.8% | -10.8% | 9.4% |
| Net Profit Margin | 0.7% | 11.3% | 11.4% | 17.9% | 24.4% | 7.2% | -10.6% | 8.7% |
| Operating Expense % of Sales | 20.6% | 59.4% | 54.9% | 52.2% | 48.3% | 61.7% | 78.5% | 62.8% |
| Returns | ||||||||
| Return on Assets (ROA) | 0.4% | 9.0% | 9.0% | 17.9% | 32.6% | 7.7% | -10.1% | 10.8% |
| Return on Equity (ROE) | 0.5% | 12.4% | 13.6% | 25.1% | 42.9% | 9.6% | -14.2% | 14.1% |
| ROIC [EBIT / Invested Capital] | 34.4% | 11.9% | 13.1% | 23.0% | 38.5% | 10.6% | -12.1% | 14.6% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 0.7% | 0.0% | 19.8% | 14.8% | 12.0% | 13.4% | 15.5% | 13.2% |
| Debt-to-Equity | 0.01x | 0.00x | 0.30x | 0.21x | 0.16x | 0.17x | 0.22x | 0.17x |
| Debt-to-EBITDA | 0.02x | 0.00x | 0.99x | 0.54x | 0.29x | 0.79x | 48.21x | 0.60x |
| Equity-to-Assets | 83.1% | 72.3% | 65.9% | 71.1% | 76.1% | 80.3% | 71.3% | 76.2% |
| Net Debt | -228 | -331 | 3,984 | 3,232 | 3,416 | -526 | 2,938 | 846 |
| Cash & Equivalents | 328 | 331 | 671 | 361 | 234 | 3,961 | 258 | 2,134 |
| Total Debt | 100 | N/A | 4,655 | 3,592 | 3,650 | 3,436 | 3,196 | 2,981 |
| Liquidity & working capital | ||||||||
| Current Ratio | 1.24x | 1.33x | 2.07x | 2.88x | 3.91x | 6.31x | 2.13x | 3.28x |
| Quick Ratio | 1.11x | 1.23x | 1.90x | 2.47x | 3.25x | 5.52x | 1.78x | 2.93x |
| Cash Ratio | 0.15x | 0.07x | 0.15x | 0.10x | 0.06x | 2.16x | 0.09x | 0.78x |
| Total Current Assets | 2,706 | 6,637 | 9,164 | 10,336 | 14,979 | 11,578 | 6,471 | 8,973 |
| Total Current Liabilities | 2,177 | 4,992 | 4,427 | 3,587 | 3,835 | 1,835 | 3,036 | 2,735 |
| Inventory | 284 | 520 | 772 | 1,462 | 2,526 | 1,449 | 1,078 | 957 |
| Trade Receivables | 2,093 | 5,786 | 7,721 | 8,514 | 12,219 | 6,168 | 5,135 | 5,882 |
| Trade Payables | 2,177 | 4,992 | 2,551 | 2,293 | 3,621 | 1,637 | 2,742 | 2,389 |
| Net Working Capital | 529 | 1,644 | 4,737 | 6,750 | 11,144 | 9,743 | 3,435 | 6,238 |
| Net Working Capital % of Revenue | 6.9% | 11.5% | 25.7% | 28.0% | 27.5% | 35.5% | 17.3% | 22.3% |
| Trade Working Capital | 201 | 1,313 | 5,942 | 7,683 | 11,124 | 5,980 | 3,471 | 4,449 |
| Trade Working Capital % of Revenue | 2.6% | 9.2% | 32.2% | 31.9% | 27.4% | 21.8% | 17.5% | 15.9% |
| Change in Trade Working Capital | N/A | 1,113 | 4,628 | 1,741 | 3,441 | -5,144 | -2,509 | 978 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 4.50x | 5.09x | 4.79x | 3.39x | 3.48x | 4.43x | 4.09x | 5.87x |
| Days Inventory Outstanding (DIO) | 81.1 | 71.7 | 76.1 | 107.5 | 104.7 | 82.3 | 89.2 | 62.2 |
| Receivables Turnover | 3.65x | 2.48x | 2.39x | 2.83x | 3.32x | 4.45x | 3.86x | 4.75x |
| Days Sales Outstanding (DSO) | 100.1 | 147.3 | 152.8 | 128.9 | 110.0 | 82.0 | 94.5 | 76.9 |
| Payables Turnover | 0.59x | 0.53x | 1.45x | 2.16x | 2.43x | 3.93x | 1.61x | 2.35x |
| Days Payable Outstanding (DPO) | 620.6 | 688.4 | 251.6 | 168.7 | 150.2 | 92.9 | 226.9 | 155.3 |
| Cash Conversion Cycle | -439.4 days | -469.4 days | -22.7 days | 67.8 days | 64.6 days | 71.4 days | -43.1 days | -16.2 days |
| Asset Turnover | 0.57x | 0.80x | 0.78x | 1.00x | 1.33x | 1.07x | 0.96x | 1.24x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 240 | 1,935 | 1,804 | 5,867 | 6,687 | 9,247 | 1,915 | 4,396 |
| Free Cash Flow (OCF − Capex proxy) | 240 | -97 | -20 | 3,363 | 4,056 | 8,401 | 336 | 2,092 |
| Cash Conversion (OCF / EBITDA) | 5.0% | 61.0% | 38.2% | 88.2% | 54.0% | 212.5% | 2888.7% | 89.0% |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 0 | 3,800 | 0 |
| Dividend Payout Ratio | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | N/A | 0.0% |
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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