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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Operates in Asset Management — Investment Management. Per the activity note to the FY2024 annual report, the group invests in and manages subsidiary companies.
Group parent — controls 1 company · ownership
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross Margin | 33.0% | 31.8% | 31.9% | 31.0% | 38.2% | 39.9% | 36.7% |
| EBITDA Margin | 23.0% | 23.1% | 22.8% | 21.6% | 28.2% | 26.7% | 21.1% |
| EBITDAR | 933 | 1,715 | 1,679 | 2,431 | 4,368 | 4,691 | 4,448 |
| EBITDAR Margin | 24.7% | 24.1% | 24.1% | 22.8% | 29.7% | 28.4% | 22.7% |
| EBIT Margin | 22.7% | 22.9% | 22.5% | 21.3% | 28.0% | 26.3% | 20.6% |
| Net Profit Margin | 20.7% | 21.8% | 22.7% | 22.0% | 27.2% | 26.6% | 20.7% |
| Operating Expense % of Sales | 10.0% | 8.7% | 9.1% | 9.4% | 10.0% | 13.2% | 15.6% |
| Returns | |||||||
| Return on Assets (ROA) | 29.9% | 42.7% | 34.2% | 34.6% | 42.4% | 37.8% | 26.8% |
| Return on Equity (ROE) | 49.4% | 53.0% | 39.2% | 41.7% | 46.8% | 40.6% | 31.3% |
| ROIC [EBIT / Invested Capital] | 54.7% | 62.9% | 45.3% | 48.2% | 63.5% | 50.5% | 32.1% |
| Leverage & debt balances | |||||||
| Debt-to-Assets | 9.2% | 3.3% | 0.9% | 0.7% | 0.0% | 0.0% | 7.4% |
| Debt-to-Equity | 0.15x | 0.04x | 0.01x | 0.01x | 0.00x | 0.00x | 0.09x |
| Debt-to-EBITDA | 0.28x | 0.07x | 0.03x | 0.02x | 0.00x | 0.00x | 0.27x |
| Equity-to-Assets | 60.6% | 80.4% | 87.3% | 83.1% | 90.6% | 93.1% | 85.4% |
| Net Debt | -20 | -340 | -580 | -929 | -2,081 | -2,227 | -427 |
| Cash & Equivalents | 261 | 459 | 622 | 973 | 2,081 | 2,227 | 1,555 |
| Total Debt | 241 | 119 | 43 | 44 | N/A | N/A | 1,128 |
| Liquidity & working capital | |||||||
| Current Ratio | 2.43x | 4.82x | 7.58x | 5.74x | 10.31x | 13.80x | 10.92x |
| Quick Ratio | 2.46x | 3.63x | 5.55x | 3.69x | 10.38x | 13.94x | 10.96x |
| Cash Ratio | 0.25x | 0.65x | 1.07x | 0.85x | 2.34x | 2.78x | 1.27x |
| Total Current Assets | 2,509 | 3,429 | 4,429 | 6,551 | 9,188 | 11,052 | 13,324 |
| Total Current Liabilities | 1,032 | 712 | 584 | 1,142 | 891 | 801 | 1,220 |
| Inventory | -30 | 843 | 1,185 | 2,341 | -63 | -115 | -55 |
| Trade Receivables | 1,112 | 1,870 | 2,029 | 2,463 | 3,556 | 4,188 | 5,263 |
| Trade Payables | 378 | 502 | 503 | 632 | 505 | 522 | 938 |
| Net Working Capital | 1,477 | 2,717 | 3,845 | 5,409 | 8,297 | 10,251 | 12,103 |
| Net Working Capital % of Revenue | 39.1% | 38.2% | 55.3% | 50.8% | 56.3% | 62.1% | 61.7% |
| Trade Working Capital | 704 | 2,211 | 2,710 | 4,172 | 2,988 | 3,551 | 4,270 |
| Trade Working Capital % of Revenue | 18.7% | 31.1% | 39.0% | 39.2% | 20.3% | 21.5% | 21.8% |
| Change in Trade Working Capital | N/A | 1,506 | 500 | 1,461 | -1,184 | 563 | 719 |
| Turnover & efficiency | |||||||
| Inventory Turnover | -82.90x | 5.75x | 4.00x | 3.14x | -144.46x | -86.07x | -226.54x |
| Days Inventory Outstanding (DIO) | -4.4 | 63.4 | 91.3 | 116.2 | -2.5 | -4.2 | -1.6 |
| Receivables Turnover | 3.39x | 3.81x | 3.43x | 4.33x | 4.14x | 3.94x | 3.73x |
| Days Sales Outstanding (DSO) | 107.6 | 95.9 | 106.5 | 84.4 | 88.1 | 92.6 | 97.9 |
| Payables Turnover | 6.70x | 9.66x | 9.41x | 11.62x | 18.03x | 19.00x | 13.23x |
| Days Payable Outstanding (DPO) | 54.5 | 37.8 | 38.8 | 31.4 | 20.2 | 19.2 | 27.6 |
| Cash Conversion Cycle | 48.7 days | 121.6 days | 159.0 days | 169.2 days | 65.4 days | 69.2 days | 68.8 days |
| Asset Turnover | 1.44x | 1.96x | 1.51x | 1.57x | 1.56x | 1.42x | 1.29x |
| Cash flow & dividends | |||||||
| Operating Cash Flow | 292 | 559 | 709 | 1,224 | 2,373 | 2,477 | 1,502 |
| Free Cash Flow (OCF − Capex proxy) | 249 | 429 | 680 | 1,122 | 2,231 | 2,264 | 145 |
| Cash Conversion (OCF / EBITDA) | 33.7% | 34.1% | 44.7% | 53.3% | 57.1% | 56.3% | 36.4% |
| 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 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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