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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 71,000 · FY2023 46,500 · FY2024 75,000 — 3-yr total 192,500
Aviator LLC is a Tbilisi gambling / totalizator operator founded in 2023, associated with the well-known 'Aviator' crash-game brand and an Evolution Dual Play Roulette partnership at Casino Aviator Tbilisi.
Subsidiary of Atlas Holdings (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 73.0% | 71.1% | 70.9% | 70.0% | 63.9% | 54.9% | 50.5% | 47.9% |
| EBITDA Margin | 61.1% | 46.5% | 37.5% | 35.5% | 41.0% | 25.8% | 18.1% | 19.1% |
| EBITDAR | 80,607 | 81,761 | 82,638 | 95,101 | 156,169 | 91,143 | 73,190 | 94,790 |
| EBITDAR Margin | 61.1% | 46.5% | 37.5% | 35.5% | 41.0% | 25.8% | 18.1% | 19.1% |
| EBIT Margin | 60.2% | 45.5% | 35.0% | 32.3% | 38.5% | 21.6% | 13.9% | 15.5% |
| Net Profit Margin | 40.0% | 45.7% | 34.6% | 31.7% | 38.6% | 21.9% | 14.1% | 15.7% |
| Operating Expense % of Sales | 12.0% | 24.6% | 33.9% | 35.5% | 26.0% | 31.8% | 35.7% | 32.1% |
| Returns | ||||||||
| Return on Assets (ROA) | 290.4% | 326.7% | 71.4% | 127.6% | 176.9% | 81.6% | 51.1% | 56.2% |
| Return on Equity (ROE) | 1018.0% | 753.7% | 90.4% | 437.8% | 535.3% | 206.2% | 110.4% | 130.8% |
| ROIC [EBIT / Invested Capital] | 6102.1% | 1647.3% | 291.1% | 514.9% | 580.3% | 200.7% | 143.8% | 2128.4% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 0.0% | 0.0% | 1.5% | 11.1% | 7.1% | 4.5% | 3.2% | 2.2% |
| Debt-to-Equity | 0.00x | 0.00x | 0.02x | 0.38x | 0.21x | 0.11x | 0.07x | 0.05x |
| Debt-to-EBITDA | 0.00x | 0.00x | 0.02x | 0.08x | 0.04x | 0.05x | 0.05x | 0.03x |
| Equity-to-Assets | 28.5% | 43.3% | 79.0% | 29.2% | 33.1% | 39.6% | 46.3% | 43.0% |
| Net Debt | -3,889 | -5,821 | -58,096 | -2,565 | -2,225 | 532 | -12,579 | -56,295 |
| Cash & Equivalents | 3,889 | 5,821 | 59,658 | 9,958 | 8,111 | 3,694 | 16,101 | 59,405 |
| Total Debt | N/A | N/A | 1,562 | 7,393 | 5,886 | 4,226 | 3,522 | 3,110 |
| Liquidity & working capital | ||||||||
| Current Ratio | 1.95x | 1.23x | 4.07x | 0.89x | 0.77x | 0.90x | 1.17x | 1.32x |
| Quick Ratio | 1.92x | 1.18x | 4.06x | 0.88x | 0.77x | 0.89x | 1.16x | 1.32x |
| Cash Ratio | 0.57x | 0.42x | 2.71x | 0.24x | 0.16x | 0.07x | 0.28x | 0.77x |
| Total Current Assets | 13,293 | 17,172 | 89,620 | 37,064 | 39,177 | 48,411 | 67,133 | 102,013 |
| Total Current Liabilities | 6,816 | 13,964 | 22,042 | 41,659 | 50,581 | 53,854 | 57,423 | 77,288 |
| Inventory | 211 | 687 | 235 | 259 | 243 | 291 | 353 | 277 |
| Trade Receivables | 9,193 | 6,727 | 22,605 | 26,253 | 30,336 | 43,667 | 49,963 | 38,883 |
| Trade Payables | 6,816 | 8,531 | 13,589 | 28,781 | 41,895 | 40,951 | 43,054 | 58,506 |
| Net Working Capital | 6,477 | 3,208 | 67,578 | -4,595 | -11,404 | -5,443 | 9,710 | 24,725 |
| Net Working Capital % of Revenue | 4.9% | 1.8% | 30.6% | -1.7% | -3.0% | -1.5% | 2.4% | 5.0% |
| Trade Working Capital | 2,588 | -1,117 | 9,251 | -2,269 | -11,316 | 3,007 | 7,262 | -19,346 |
| Trade Working Capital % of Revenue | 2.0% | -0.6% | 4.2% | -0.8% | -3.0% | 0.9% | 1.8% | -3.9% |
| Change in Trade Working Capital | N/A | -3,705 | 10,368 | -11,520 | -9,047 | 14,323 | 4,255 | -26,608 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 168.71x | 74.05x | 273.26x | 310.72x | 566.62x | 546.23x | 567.06x | 935.84x |
| Days Inventory Outstanding (DIO) | 2.2 | 4.9 | 1.3 | 1.2 | 0.6 | 0.7 | 0.6 | 0.4 |
| Receivables Turnover | 14.36x | 26.16x | 9.76x | 10.21x | 12.57x | 8.08x | 8.09x | 12.79x |
| Days Sales Outstanding (DSO) | 25.4 | 14.0 | 37.4 | 35.8 | 29.0 | 45.2 | 45.1 | 28.5 |
| Payables Turnover | 5.22x | 5.96x | 4.73x | 2.80x | 3.29x | 3.88x | 4.65x | 4.43x |
| Days Payable Outstanding (DPO) | 69.9 | 61.2 | 77.2 | 130.5 | 111.1 | 94.0 | 78.5 | 82.4 |
| Cash Conversion Cycle | -42.3 days | -42.3 days | -38.5 days | -93.6 days | -81.4 days | -48.2 days | -32.8 days | -53.5 days |
| Asset Turnover | 7.25x | 7.14x | 2.06x | 4.03x | 4.58x | 3.72x | 3.62x | 3.57x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 34,433 | 90,473 | 78,461 | 88,274 | 152,696 | 86,475 | 88,326 | 129,350 |
| Free Cash Flow (OCF − Capex proxy) | 34,433 | 76,123 | 59,132 | 81,066 | 123,413 | 67,199 | 70,922 | 119,048 |
| Cash Conversion (OCF / EBITDA) | 42.7% | 110.7% | 94.9% | 92.8% | 97.8% | 94.9% | 120.7% | 136.5% |
| Dividends Declared | 52,854 | 75,000 | 2,519 | 130,000 | 141,000 | 71,000 | 46,500 | 75,000 |
| Dividend Payout Ratio | 100.0% | 93.2% | 3.3% | 153.2% | 95.8% | 91.8% | 81.5% | 95.7% |
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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