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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 0 · FY2023 0 · FY2024 0
Operates in Hospitality — Accommodation. Per the activity note to the FY2024 annual report, the company provides hotel, restaurant and related hospitality services.
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 74.8% | 77.8% | 76.1% | 58.8% | 81.2% | 79.8% | 77.6% | 77.5% |
| EBITDA Margin | 50.8% | 22.9% | 17.9% | -49.4% | 27.4% | 26.0% | 8.6% | 7.0% |
| EBITDAR | 2,242 | 1,995 | 1,506 | -836 | 1,386 | 2,133 | 655 | 510 |
| EBITDAR Margin | 50.8% | 22.9% | 17.9% | -49.4% | 27.4% | 26.0% | 8.6% | 7.0% |
| EBIT Margin | 39.9% | 14.2% | 9.2% | -92.9% | 15.0% | 16.6% | 1.7% | -0.3% |
| Net Profit Margin | -4.9% | -2.3% | -20.9% | -352.9% | 36.6% | 50.0% | -24.5% | -22.0% |
| Operating Expense % of Sales | 24.0% | 54.9% | 58.3% | 108.2% | 53.7% | 53.7% | 69.1% | 70.6% |
| Returns | ||||||||
| Return on Assets (ROA) | -1.1% | -1.1% | -10.1% | -37.5% | 11.4% | 15.2% | -6.9% | -5.8% |
| Return on Equity (ROE) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| ROIC [EBIT / Invested Capital] | 9.1% | 7.1% | 4.7% | -10.1% | 5.1% | 8.9% | 0.9% | -0.1% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 106.3% | 107.6% | 118.3% | 157.1% | 143.4% | 111.5% | 118.5% | 124.2% |
| Debt-to-Equity | -15.02x | -12.23x | -6.09x | -2.67x | -3.11x | -8.84x | -6.11x | -4.98x |
| Debt-to-EBITDA | 9.46x | 9.90x | 13.65x | N/A | 16.85x | 14.11x | 49.19x | 67.28x |
| Equity-to-Assets | -7.1% | -8.8% | -19.4% | -58.7% | -46.1% | -12.6% | -19.4% | -24.9% |
| Net Debt | 20,665 | 19,059 | 20,021 | 24,943 | 22,476 | 18,688 | 20,250 | 29,002 |
| Cash & Equivalents | 543 | 684 | 534 | 69 | 871 | 11,398 | 11,988 | 5,317 |
| Total Debt | 21,208 | 19,743 | 20,554 | 25,012 | 23,347 | 30,087 | 32,238 | 34,319 |
| Liquidity & working capital | ||||||||
| Current Ratio | 0.12x | 0.07x | 0.05x | 0.01x | 0.05x | 0.39x | 0.38x | 0.16x |
| Quick Ratio | 0.11x | 0.05x | 0.03x | 0.00x | 0.04x | 0.38x | 0.37x | 0.16x |
| Cash Ratio | 0.03x | 0.03x | 0.03x | 0.00x | 0.04x | 0.38x | 0.37x | 0.15x |
| Total Current Assets | 2,668 | 1,352 | 1,009 | 289 | 1,239 | 11,704 | 12,350 | 5,640 |
| Total Current Liabilities | 21,363 | 19,743 | 20,333 | 25,272 | 23,783 | 30,395 | 32,484 | 34,526 |
| Inventory | 270 | 348 | 310 | 206 | 213 | 201 | 245 | 204 |
| Trade Receivables | 307 | 295 | 165 | 15 | 155 | 42 | 30 | 11 |
| Trade Payables | 155 | 213 | 196 | 261 | 435 | 308 | 246 | 207 |
| Net Working Capital | -18,695 | -18,392 | -19,324 | -24,983 | -22,543 | -18,691 | -20,134 | -28,886 |
| Net Working Capital % of Revenue | -423.8% | -211.0% | -229.1% | -1474.8% | -446.4% | -228.1% | -263.5% | -393.9% |
| Trade Working Capital | 422 | 430 | 280 | -40 | -67 | -65 | 29 | 8 |
| Trade Working Capital % of Revenue | 9.6% | 4.9% | 3.3% | -2.4% | -1.3% | -0.8% | 0.4% | 0.1% |
| Change in Trade Working Capital | N/A | 9 | -151 | -320 | -27 | 2 | 94 | -20 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 4.11x | 5.57x | 6.49x | 3.38x | 4.46x | 8.25x | 6.97x | 8.08x |
| Days Inventory Outstanding (DIO) | 88.7 | 65.6 | 56.2 | 107.9 | 81.9 | 44.2 | 52.4 | 45.2 |
| Receivables Turnover | 14.39x | 29.57x | 51.15x | 115.85x | 32.50x | 195.01x | 258.06x | 641.75x |
| Days Sales Outstanding (DSO) | 25.4 | 12.3 | 7.1 | 3.2 | 11.2 | 1.9 | 1.4 | 0.6 |
| Payables Turnover | 7.18x | 9.11x | 10.30x | 2.67x | 2.18x | 5.38x | 6.95x | 7.97x |
| Days Payable Outstanding (DPO) | 50.9 | 40.1 | 35.4 | 136.5 | 167.2 | 67.8 | 52.5 | 45.8 |
| Cash Conversion Cycle | 63.2 days | 37.9 days | 27.9 days | -25.4 days | -74.1 days | -21.7 days | 1.3 days | -0.1 days |
| Asset Turnover | 0.22x | 0.48x | 0.49x | 0.11x | 0.31x | 0.30x | 0.28x | 0.27x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 245 | 3,377 | 1,311 | -540 | 1,408 | 2,135 | 696 | 660 |
| Free Cash Flow (OCF − Capex proxy) | 245 | 2,953 | 1,259 | -548 | 1,373 | 1,065 | 628 | -6,792 |
| Cash Conversion (OCF / EBITDA) | 10.9% | 169.3% | 87.1% | N/A | 101.6% | 100.1% | 106.1% | 129.3% |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | N/A | N/A | N/A | N/A | 0.0% | 0.0% | 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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