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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Operates in Construction — Residential & Commercial Building. Per the activity note to the FY2024 annual report, the company constructs residential buildings.
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross Margin | 43.7% | 71.8% | 87.5% | 55.0% | 78.6% | 34.7% | 33.0% |
| EBITDA Margin | 27.8% | 62.9% | 82.1% | 38.9% | 71.2% | 28.8% | 29.6% |
| EBITDAR | 1,510 | 3,187 | 7,579 | 1,455 | 6,685 | 2,856 | 4,005 |
| EBITDAR Margin | 27.8% | 63.8% | 82.6% | 40.4% | 71.7% | 29.3% | 30.0% |
| EBIT Margin | 27.2% | 62.4% | 81.8% | 38.1% | 70.5% | 26.9% | 28.2% |
| Net Profit Margin | 27.7% | 55.3% | 80.7% | 50.4% | 182.9% | 14.9% | 22.8% |
| Operating Expense % of Sales | 15.9% | 8.9% | 5.4% | 16.1% | 7.4% | 5.9% | 3.4% |
| Returns | |||||||
| Return on Assets (ROA) | 25.7% | 39.1% | 82.3% | 8.2% | 37.4% | 3.3% | 7.7% |
| Return on Equity (ROE) | N/A | N/A | 252.8% | 38.3% | 78.2% | 6.3% | 11.6% |
| ROIC [EBIT / Invested Capital] | N/A | N/A | 519.8% | 13.0% | 20.8% | 7.6% | 10.6% |
| Leverage & debt balances | |||||||
| Debt-to-Assets | 82.1% | 39.1% | 8.2% | 26.8% | 29.2% | 26.6% | 26.0% |
| Debt-to-Equity | -0.66x | -0.62x | 0.25x | 1.25x | 0.61x | 0.51x | 0.39x |
| Debt-to-EBITDA | 3.18x | 0.88x | 0.10x | 4.22x | 2.00x | 4.17x | 2.60x |
| Equity-to-Assets | -123.6% | -63.3% | 32.5% | 21.5% | 47.9% | 52.7% | 66.4% |
| Net Debt | 4,468 | 1,827 | -1,485 | 5,800 | 9,831 | 11,207 | 9,360 |
| Cash & Equivalents | 338 | 936 | 2,225 | 117 | 3,449 | 534 | 937 |
| Total Debt | 4,805 | 2,763 | 740 | 5,916 | 13,281 | 11,741 | 10,298 |
| Liquidity & working capital | |||||||
| Current Ratio | 0.58x | 0.67x | 1.51x | 1.01x | 3.39x | 3.06x | 6.58x |
| Quick Ratio | 0.58x | 0.21x | 0.62x | 1.01x | 3.39x | 3.06x | 6.58x |
| Cash Ratio | 0.03x | 0.09x | 0.40x | 0.01x | 0.31x | 0.05x | 0.22x |
| Total Current Assets | 5,758 | 6,994 | 8,479 | 11,734 | 37,243 | 30,544 | 28,298 |
| Total Current Liabilities | 9,904 | 10,456 | 5,626 | 11,601 | 10,971 | 9,997 | 4,298 |
| Inventory | N/A | 4,771 | 5,019 | N/A | N/A | N/A | N/A |
| Trade Receivables | 108 | 80 | 264 | 300 | 19,019 | 16,146 | 20,176 |
| Trade Payables | 8,289 | 8,783 | 5,331 | 11,356 | 6,102 | 3,825 | 629 |
| Net Working Capital | -4,146 | -3,461 | 2,853 | 134 | 26,272 | 20,548 | 24,000 |
| Net Working Capital % of Revenue | -76.2% | -69.3% | 31.1% | 3.7% | 281.9% | 210.6% | 179.6% |
| Trade Working Capital | -8,181 | -3,932 | -48 | -11,056 | 12,917 | 12,321 | 19,547 |
| Trade Working Capital % of Revenue | -150.4% | -78.7% | -0.5% | -306.6% | 138.6% | 126.3% | 146.3% |
| Change in Trade Working Capital | N/A | 4,250 | 3,883 | -11,008 | 23,972 | -596 | 7,227 |
| Turnover & efficiency | |||||||
| Inventory Turnover | N/A | 0.29x | 0.23x | N/A | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | 1237.4 | 1595.7 | N/A | N/A | N/A | N/A |
| Receivables Turnover | 50.30x | 62.08x | 34.75x | 12.01x | 0.49x | 0.60x | 0.66x |
| Days Sales Outstanding (DSO) | 7.3 | 5.9 | 10.5 | 30.4 | 744.9 | 604.0 | 551.2 |
| Payables Turnover | 0.37x | 0.16x | 0.22x | 0.14x | 0.33x | 1.67x | 14.23x |
| Days Payable Outstanding (DPO) | 987.7 | 2277.9 | 1695.0 | 2553.6 | 1116.9 | 219.1 | 25.7 |
| Cash Conversion Cycle | -980.5 days | -1034.7 days | -88.8 days | -2523.2 days | -372.0 days | 384.9 days | 525.6 days |
| Asset Turnover | 0.93x | 0.71x | 1.02x | 0.16x | 0.20x | 0.22x | 0.34x |
| Cash flow & dividends | |||||||
| Operating Cash Flow | 2,221 | 2,977 | 3,955 | -3,351 | -21,490 | 4,531 | 400 |
| Free Cash Flow (OCF − Capex proxy) | 2,213 | 2,970 | 3,567 | -7,308 | -2,148 | 4,432 | 4,479 |
| Cash Conversion (OCF / EBITDA) | 147.2% | 94.7% | 52.5% | -238.8% | -323.7% | 161.1% | 10.1% |
| 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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