Ratio	2018	2019	2020
Margins
Gross Margin	98.1%	98.9%	26.6%
EBITDA Margin	6.4%	7.0%	-56.8%
EBITDAR	174	121	-137
EBITDAR Margin	9.4%	10.5%	-44.4%
EBIT Margin	-7.4%	-11.7%	-159.4%
Net Profit Margin	-8.1%	-12.9%	-152.6%
Operating Expense % of Sales	91.7%	91.9%	83.4%
Returns
Return on Assets (ROA)	-10.6%	-12.1%	-54.4%
Return on Equity (ROE)	-11.9%	-13.3%	-72.5%
ROIC [EBIT / Invested Capital]	-11.1%	-12.6%	-77.5%
Leverage & liquidity
Debt-to-Assets	3.5%	0.0%	0.0%
Debt-to-Equity	0.04x	0.00x	0.00x
Debt-to-EBITDA	0.42x	0.00x	N/A
Equity-to-Assets	89.4%	91.2%	75.1%
Net Debt	-21	-43	-15
Cash & Equivalents	71	43	15
Total Debt	50	N/A	N/A
Efficiency & working capital
Inventory Turnover	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	N/A	N/A
Receivables Turnover	674.10x	100.27x	37.20x
Days Sales Outstanding (DSO)	0.5	3.6	9.8
Payables Turnover	0.55x	0.21x	4.86x
Days Payable Outstanding (DPO)	665.0	1714.2	75.1
Cash Conversion Cycle	-664.4 days	-1710.5 days	-65.3 days
Asset Turnover	1.31x	0.94x	0.36x
Cash flow & dividends
Operating Cash Flow	N/A	N/A	N/A
Free Cash Flow (OCF − Capex proxy)	N/A	N/A	N/A
Cash Conversion (OCF / EBITDA)	N/A	N/A	N/A
Dividends Declared	N/A	N/A	N/A
Dividend Payout Ratio	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