Ratio	2018	2019	2020	2021
Margins
Gross Margin	55.9%	57.0%	49.0%	55.3%
EBITDA Margin	21.4%	24.3%	7.4%	-5.8%
EBITDAR	1,026	2,518	837	-433
EBITDAR Margin	21.4%	24.5%	8.3%	-4.7%
EBIT Margin	21.4%	19.8%	-2.1%	-18.7%
Net Profit Margin	21.6%	24.9%	7.6%	-5.3%
Operating Expense % of Sales	34.4%	32.7%	41.6%	61.1%
Returns
Return on Assets (ROA)	20.3%	41.4%	12.5%	-6.4%
Return on Equity (ROE)	51.8%	56.2%	15.8%	-12.0%
ROIC [EBIT / Invested Capital]	54.4%	42.4%	-3.7%	-40.5%
Leverage & debt balances
Debt-to-Assets	0.0%	10.7%	16.1%	9.7%
Debt-to-Equity	0.00x	0.14x	0.20x	0.18x
Debt-to-EBITDA	0.00x	0.26x	1.34x	N/A
Equity-to-Assets	39.3%	73.6%	79.1%	53.2%
Net Debt	-111	251	900	165
Cash & Equivalents	111	406	95	571
Total Debt	N/A	658	995	736
Liquidity & working capital
Current Ratio	N/A	N/A	N/A	N/A
Quick Ratio	N/A	N/A	N/A	N/A
Cash Ratio	N/A	N/A	N/A	N/A
Total Current Assets	0	0	1,100	2,977
Total Current Liabilities	N/A	N/A	N/A	N/A
Inventory	N/A	331	557	1,028
Trade Receivables	1,615	538	312	1,231
Trade Payables	2,483	902	123	528
Net Working Capital	0	0	1,100	2,977
Net Working Capital % of Revenue	0.0%	0.0%	10.9%	32.6%
Trade Working Capital	-869	-33	747	1,731
Trade Working Capital % of Revenue	-18.1%	-0.3%	7.4%	18.9%
Change in Trade Working Capital	N/A	836	780	984
Turnover & efficiency
Inventory Turnover	N/A	13.35x	9.24x	3.98x
Days Inventory Outstanding (DIO)	N/A	27.3	39.5	91.8
Receivables Turnover	2.96x	19.09x	32.36x	7.42x
Days Sales Outstanding (DSO)	123.1	19.1	11.3	49.2
Payables Turnover	0.85x	4.90x	41.93x	7.74x
Days Payable Outstanding (DPO)	429.0	74.5	8.7	47.2
Cash Conversion Cycle	-305.9 days	-28.0 days	42.1 days	93.8 days
Asset Turnover	0.94x	1.66x	1.63x	1.20x
Cash flow & dividends
Operating Cash Flow	N/A	N/A	N/A	N/A
Free Cash Flow (OCF − Capex proxy)	N/A	N/A	N/A	N/A
Cash Conversion (OCF / EBITDA)	N/A	N/A	N/A	N/A
Dividends Declared	N/A	N/A	N/A	N/A
Dividend Payout Ratio	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