Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	34.0%	37.0%	45.9%	38.8%	49.0%	51.1%	46.5%
EBITDA Margin	4.9%	10.0%	0.3%	19.4%	7.3%	14.4%	8.4%
EBITDAR	167	502	36	1,449	234	671	519
EBITDAR Margin	4.9%	10.0%	1.3%	19.8%	8.3%	15.1%	8.9%
EBIT Margin	4.5%	9.7%	-0.3%	19.1%	6.5%	14.1%	8.1%
Net Profit Margin	3.8%	8.0%	2.4%	17.5%	-0.8%	11.4%	7.2%
Operating Expense % of Sales	29.1%	27.1%	45.6%	19.5%	41.7%	36.7%	38.1%
Returns
Return on Assets (ROA)	4.2%	11.5%	1.1%	33.0%	-0.5%	9.5%	6.5%
Return on Equity (ROE)	87.1%	150.9%	71.6%	137.9%	-5.8%	140.8%	180.7%
ROIC [EBIT / Invested Capital]	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Leverage & liquidity
Debt-to-Assets	0.0%	0.0%	0.0%	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	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
Equity-to-Assets	4.8%	7.6%	1.6%	23.9%	8.5%	6.8%	3.6%
Net Debt	-629	-1,023	-1,435	-1,096	-1,219	-1,474	-959
Cash & Equivalents	629	1,023	1,435	1,096	1,219	1,474	959
Total Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Efficiency & working capital
Inventory Turnover	N/A	1.56x	0.43x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	233.5	847.6	N/A	N/A	N/A	N/A
Receivables Turnover	23.61x	43.84x	9.63x	36.14x	14.86x	21.06x	20.55x
Days Sales Outstanding (DSO)	15.5	8.3	37.9	10.1	24.6	17.3	17.8
Payables Turnover	58.92x	N/A	159.29x	43.41x	12.93x	28.48x	40.58x
Days Payable Outstanding (DPO)	6.2	N/A	2.3	8.4	28.2	12.8	9.0
Cash Conversion Cycle	9.3 days	241.8 days	883.2 days	1.7 days	-3.7 days	4.5 days	8.8 days
Asset Turnover	1.10x	1.44x	0.48x	1.89x	0.60x	0.83x	0.89x
Cash flow & dividends
Operating Cash Flow	475	394	412	-339	122	255	-515
Free Cash Flow (OCF − Capex proxy)	475	394	412	-339	122	255	-515
Cash Conversion (OCF / EBITDA)	284.3%	78.4%	5068.6%	-23.8%	59.8%	39.8%	-105.2%
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