Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	161.4%	100.0%	42.3%	49.7%	43.1%	47.9%	50.4%
EBITDA Margin	136.9%	53.8%	24.9%	11.7%	24.8%	26.4%	19.5%
EBITDAR	3,250	518	617	363	1,153	1,053	827
EBITDAR Margin	136.9%	53.8%	24.9%	13.5%	27.0%	26.4%	19.5%
EBIT Margin	136.8%	53.5%	24.8%	11.5%	24.6%	26.3%	19.4%
Net Profit Margin	75.5%	43.9%	24.8%	9.4%	22.6%	23.1%	17.5%
Operating Expense % of Sales	24.5%	46.2%	17.4%	38.0%	18.4%	21.5%	30.9%
Returns
Return on Assets (ROA)	82.6%	18.5%	31.6%	10.0%	31.4%	27.9%	22.4%
Return on Equity (ROE)	96.6%	24.1%	65.5%	10.1%	35.8%	29.9%	23.3%
ROIC [EBIT / Invested Capital]	197.1%	36.5%	89.6%	13.8%	39.4%	36.9%	25.9%
Leverage & liquidity
Debt-to-Assets	9.1%	0.0%	0.0%	0.0%	11.1%	0.0%	0.0%
Debt-to-Equity	0.11x	0.00x	0.00x	0.00x	0.13x	0.00x	0.00x
Debt-to-EBITDA	0.06x	0.00x	0.00x	0.00x	0.32x	0.00x	0.00x
Equity-to-Assets	85.5%	76.6%	48.3%	99.9%	87.5%	93.3%	96.3%
Net Debt	-209	-342	-253	-246	-21	-241	-27
Cash & Equivalents	407	342	253	246	361	241	27
Total Debt	198	N/A	N/A	N/A	340	N/A	N/A
Efficiency & working capital
Inventory Turnover	N/A	N/A	0.93x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	N/A	392.2	N/A	N/A	N/A	N/A
Receivables Turnover	13.88x	1.84x	17.59x	30.15x	25.43x	22.76x	26.10x
Days Sales Outstanding (DSO)	26.3	198.7	20.8	12.1	14.4	16.0	14.0
Payables Turnover	12.59x	N/A	1.44x	N/A	81.12x	9.65x	16.98x
Days Payable Outstanding (DPO)	29.0	N/A	253.3	N/A	4.5	37.8	21.5
Cash Conversion Cycle	-2.7 days	198.7 days	159.6 days	12.1 days	9.9 days	-21.8 days	-7.5 days
Asset Turnover	1.09x	0.42x	1.27x	1.07x	1.39x	1.20x	1.28x
Cash flow & dividends
Operating Cash Flow	27	-66	-88	-7	115	N/A	N/A
Free Cash Flow (OCF − Capex proxy)	27	-66	-88	-7	115	N/A	N/A
Cash Conversion (OCF / EBITDA)	0.8%	-12.7%	-14.3%	-2.2%	10.9%	N/A	N/A
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