Ratio	2021	2022	2023	2024
Margins
Gross Margin	17.6%	12.6%	15.7%	20.5%
EBITDA Margin	11.3%	3.0%	7.1%	10.9%
EBITDAR	201	100	325	600
EBITDAR Margin	11.3%	3.0%	7.1%	10.9%
EBIT Margin	11.3%	3.0%	7.1%	10.9%
Net Profit Margin	10.4%	2.3%	5.4%	9.5%
Operating Expense % of Sales	6.3%	9.5%	8.6%	9.5%
Returns
Return on Assets (ROA)	11.3%	4.8%	13.1%	24.3%
Return on Equity (ROE)	34.6%	12.8%	30.7%	44.8%
ROIC [EBIT / Invested Capital]	39.8%	15.1%	28.8%	46.2%
Leverage & liquidity
Debt-to-Assets	0.0%	10.3%	19.3%	13.8%
Debt-to-Equity	0.00x	0.28x	0.45x	0.25x
Debt-to-EBITDA	0.00x	1.60x	1.13x	0.50x
Equity-to-Assets	32.8%	37.3%	42.6%	54.3%
Net Debt	-27	83	317	132
Cash & Equivalents	27	77	49	165
Total Debt	N/A	160	366	297
Efficiency & working capital
Inventory Turnover	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	N/A	N/A	N/A
Receivables Turnover	3.56x	9.72x	6.48x	6.60x
Days Sales Outstanding (DSO)	102.4	37.6	56.3	55.3
Payables Turnover	1.42x	3.96x	6.95x	8.53x
Days Payable Outstanding (DPO)	256.2	92.2	52.5	42.8
Cash Conversion Cycle	-153.8 days	-54.6 days	3.8 days	12.5 days
Asset Turnover	1.09x	2.11x	2.40x	2.56x
Cash flow & dividends
Operating Cash Flow	N/A	N/A	N/A	N/A
Free Cash Flow (OCF − Capex proxy)	N/A	N/A	N/A	N/A
Cash Conversion (OCF / EBITDA)	N/A	N/A	N/A	N/A
Dividends Declared	N/A	N/A	N/A	N/A
Dividend Payout Ratio	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