Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	13.5%	14.3%	18.2%	20.2%	20.1%	22.0%	26.3%
EBITDA Margin	10.1%	11.5%	14.7%	16.2%	14.7%	14.3%	14.1%
EBITDAR	464	617	672	841	807	756	627
EBITDAR Margin	11.1%	12.3%	15.6%	17.0%	15.4%	15.5%	15.5%
EBIT Margin	10.1%	11.5%	14.7%	16.1%	14.6%	14.2%	14.0%
Net Profit Margin	9.8%	11.2%	14.1%	14.8%	13.5%	13.7%	14.5%
Operating Expense % of Sales	3.4%	2.9%	3.5%	4.1%	5.4%	7.8%	12.2%
Returns
Return on Assets (ROA)	36.4%	17.5%	17.2%	17.7%	16.8%	13.9%	11.7%
Return on Equity (ROE)	36.8%	33.5%	26.5%	24.3%	19.0%	15.2%	11.7%
ROIC [EBIT / Invested Capital]	64.6%	20.0%	21.0%	23.2%	21.6%	20.9%	15.6%
Leverage & liquidity
Debt-to-Assets	0.0%	39.3%	27.9%	17.0%	10.8%	4.7%	0.0%
Debt-to-Equity	0.00x	0.75x	0.43x	0.23x	0.12x	0.05x	0.00x
Debt-to-EBITDA	0.00x	2.19x	1.56x	0.88x	0.59x	0.33x	0.00x
Equity-to-Assets	98.9%	52.2%	64.9%	72.9%	88.7%	91.4%	99.9%
Net Debt	-460	1,202	727	424	-194	-1,072	-1,362
Cash & Equivalents	460	61	258	281	648	1,300	1,362
Total Debt	N/A	1,262	984	705	455	228	N/A
Efficiency & working capital
Inventory Turnover	N/A	5.77x	4.16x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	63.3	87.7	N/A	N/A	N/A	N/A
Receivables Turnover	43712.59x	332.53x	288.60x	571.19x	743.32x	129.59x	113.68x
Days Sales Outstanding (DSO)	0.0	1.1	1.3	0.6	0.5	2.8	3.2
Payables Turnover	866.02x	16.16x	14.17x	9.64x	N/A	21.66x	N/A
Days Payable Outstanding (DPO)	0.4	22.6	25.8	37.9	N/A	16.9	N/A
Cash Conversion Cycle	-0.4 days	41.8 days	63.2 days	-37.2 days	0.5 days	-14.0 days	3.2 days
Asset Turnover	3.72x	1.56x	1.22x	1.20x	1.25x	1.02x	0.81x
Cash flow & dividends
Operating Cash Flow	332	-399	197	23	368	652	62
Free Cash Flow (OCF − Capex proxy)	332	-399	197	23	368	652	62
Cash Conversion (OCF / EBITDA)	78.1%	-69.2%	31.1%	2.9%	47.9%	93.6%	10.9%
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