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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 FY2023 annual report, the company constructs residential and non-residential buildings and supplies construction objects to customers.
| Ratio | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|
| Margins | ||||
| Gross Margin | 48.6% | 51.5% | 61.1% | 48.0% |
| EBITDA Margin | 46.3% | 48.6% | 54.7% | 1.0% |
| EBITDAR | 5,372 | 9,591 | 4,419 | 3 |
| EBITDAR Margin | 46.3% | 48.6% | 54.7% | 1.0% |
| EBIT Margin | 46.1% | 48.5% | 54.6% | -3.1% |
| Net Profit Margin | 26.4% | 46.7% | 38.4% | -7.0% |
| Operating Expense % of Sales | 2.3% | 3.0% | 6.4% | 46.9% |
| Returns | ||||
| Return on Assets (ROA) | 17.2% | 74.3% | 40.9% | -0.2% |
| Return on Equity (ROE) | 354.3% | 91.5% | 43.3% | -0.2% |
| ROIC [EBIT / Invested Capital] | 99.7% | 175.8% | 93.3% | -0.2% |
| Leverage & debt balances | ||||
| Debt-to-Assets | 41.9% | 1.5% | 0.0% | 0.0% |
| Debt-to-Equity | 8.64x | 0.02x | 0.00x | 0.00x |
| Debt-to-EBITDA | 1.39x | 0.02x | 0.00x | 0.00x |
| Equity-to-Assets | 4.8% | 81.2% | 94.5% | 97.1% |
| Net Debt | 4,500 | -4,630 | -2,435 | -2,553 |
| Cash & Equivalents | 2,962 | 4,820 | 2,435 | 2,553 |
| Total Debt | 7,462 | 190 | N/A | N/A |
| Liquidity & working capital | ||||
| Current Ratio | 1.94x | 6.01x | 18.07x | 33.85x |
| Quick Ratio | 0.44x | 6.01x | 18.07x | 33.85x |
| Cash Ratio | 0.33x | 2.38x | 5.89x | 11.89x |
| Total Current Assets | 17,472 | 12,184 | 7,477 | 7,271 |
| Total Current Liabilities | 9,007 | 2,027 | 414 | 215 |
| Inventory | 13,483 | N/A | N/A | N/A |
| Trade Receivables | 546 | 995 | 2,014 | 1,886 |
| Trade Payables | 9,007 | 2,027 | 409 | 164 |
| Net Working Capital | 8,465 | 10,158 | 7,063 | 7,056 |
| Net Working Capital % of Revenue | 73.0% | 51.4% | 87.5% | 2814.5% |
| Trade Working Capital | 5,022 | -1,031 | 1,605 | 1,721 |
| Trade Working Capital % of Revenue | 43.3% | -5.2% | 19.9% | 686.6% |
| Change in Trade Working Capital | N/A | -6,053 | 2,636 | 116 |
| Turnover & efficiency | ||||
| Inventory Turnover | 0.44x | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | 825.7 | N/A | N/A | N/A |
| Receivables Turnover | 21.23x | 19.84x | 4.01x | 0.13x |
| Days Sales Outstanding (DSO) | 17.2 | 18.4 | 91.0 | 2745.5 |
| Payables Turnover | 0.66x | 4.72x | 7.69x | 0.79x |
| Days Payable Outstanding (DPO) | 551.6 | 77.3 | 47.5 | 460.2 |
| Cash Conversion Cycle | 291.3 days | -58.9 days | 43.5 days | 2285.3 days |
| Asset Turnover | 0.65x | 1.59x | 1.07x | 0.03x |
| Cash flow & dividends | ||||
| Operating Cash Flow | 7,899 | 9,598 | 2,969 | 118 |
| Free Cash Flow (OCF − Capex proxy) | 7,887 | 9,720 | 2,969 | 118 |
| Cash Conversion (OCF / EBITDA) | 147.0% | 100.1% | 67.2% | 4599.5% |
| 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 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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