Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	99.6%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
EBITDA Margin	34.6%	-359.9%	-26.2%	19.2%	29.4%	5.7%	19.3%
EBITDAR	502	-1,034	-235	421	1,130	216	1,591
EBITDAR Margin	34.6%	-359.9%	-26.2%	19.2%	29.4%	5.7%	19.3%
EBIT Margin	32.7%	-379.6%	-33.8%	15.4%	28.3%	5.7%	19.3%
Net Profit Margin	35.9%	-355.1%	-25.3%	21.6%	26.1%	4.7%	19.1%
Operating Expense % of Sales	65.0%	459.9%	126.2%	80.8%	70.6%	94.3%	80.7%
Returns
Return on Assets (ROA)	24.8%	-97.0%	-28.7%	37.5%	48.2%	8.3%	32.2%
Return on Equity (ROE)	25.3%	-117.6%	-41.0%	65.8%	76.5%	14.4%	56.2%
ROIC [EBIT / Invested Capital]	117.0%	-480.9%	-162.2%	196.1%	235.9%	26.1%	440.9%
Leverage & debt balances
Debt-to-Assets	0.0%	0.1%	0.1%	0.0%	0.0%	0.0%	0.0%
Debt-to-Equity	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
Debt-to-EBITDA	0.00x	N/A	N/A	0.00x	0.00x	0.00x	0.00x
Equity-to-Assets	98.1%	82.5%	69.9%	57.0%	62.9%	57.7%	57.2%
Net Debt	-1,653	-641	-366	-546	-848	-399	-2,436
Cash & Equivalents	1,654	642	367	546	848	399	2,436
Total Debt	1	1	1	N/A	N/A	N/A	N/A
Liquidity & working capital
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Quick Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Current Assets	1,871	862	560	954	1,911	399	2,038
Total Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Inventory	N/A	7	8	N/A	N/A	N/A	N/A
Trade Receivables	198	220	193	408	1,055	1,473	1,564
Trade Payables	38	171	223	482	723	784	1,908
Net Working Capital	1,871	862	560	954	1,911	399	2,038
Net Working Capital % of Revenue	128.8%	300.1%	62.6%	43.5%	49.8%	10.5%	24.7%
Trade Working Capital	160	56	-22	-74	332	690	-345
Trade Working Capital % of Revenue	11.0%	19.6%	-2.4%	-3.4%	8.6%	18.2%	-4.2%
Change in Trade Working Capital	N/A	-104	-78	-53	406	358	-1,034
Turnover & efficiency
Inventory Turnover	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Receivables Turnover	7.35x	1.30x	4.63x	5.37x	3.64x	2.57x	5.27x
Days Sales Outstanding (DSO)	49.7	279.8	78.8	67.9	100.3	141.9	69.2
Payables Turnover	0.16x	N/A	N/A	N/A	N/A	N/A	N/A
Days Payable Outstanding (DPO)	2313.0	N/A	N/A	N/A	N/A	N/A	N/A
Cash Conversion Cycle	-2263.3 days	279.8 days	78.8 days	67.9 days	100.3 days	141.9 days	69.2 days
Asset Turnover	0.69x	0.27x	1.13x	1.74x	1.85x	1.79x	1.69x
Cash flow & dividends
Operating Cash Flow	366	-1,026	-283	199	429	-413	2,026
Free Cash Flow (OCF − Capex proxy)	366	-1,026	-283	199	429	-413	2,026
Cash Conversion (OCF / EBITDA)	72.8%	N/A	N/A	47.3%	38.0%	-191.7%	127.4%
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 ₾ '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