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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 106 · FY2023 274 · FY2024 857 — 3-yr total 1,237
Operates in Pharma. Per the activity note to the FY2024 annual report, the company wholesales and manufactures food additives and dyes.
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross Margin | 38.9% | 40.7% | 45.5% | 40.5% | 27.4% | 36.9% | 39.0% |
| EBITDA Margin | 12.0% | 14.4% | 25.0% | 20.6% | 4.9% | 11.8% | 17.6% |
| EBITDAR | 88 | 226 | 473 | 493 | 164 | 412 | 576 |
| EBITDAR Margin | 12.0% | 14.4% | 25.0% | 20.6% | 4.9% | 11.8% | 17.6% |
| EBIT Margin | 8.2% | 12.4% | 23.3% | 19.2% | 4.4% | 11.1% | 17.2% |
| Net Profit Margin | 4.5% | 14.1% | 23.7% | 17.4% | 4.8% | 10.3% | 12.7% |
| Operating Expense % of Sales | 26.9% | 26.3% | 20.9% | 20.1% | 22.5% | 25.2% | 21.4% |
| Returns | |||||||
| Return on Assets (ROA) | 2.4% | 14.2% | 20.8% | 15.3% | 5.2% | 12.1% | 11.0% |
| Return on Equity (ROE) | 3.0% | 16.7% | 25.5% | 19.1% | 7.2% | 15.5% | 17.2% |
| ROIC [EBIT / Invested Capital] | 5.3% | 16.7% | 28.3% | 26.0% | 7.2% | 18.7% | 19.9% |
| Leverage & debt balances | |||||||
| Debt-to-Assets | 7.6% | 0.0% | 0.0% | 9.9% | 6.8% | 6.7% | 28.3% |
| Debt-to-Equity | 0.10x | 0.00x | 0.00x | 0.12x | 0.09x | 0.09x | 0.44x |
| Debt-to-EBITDA | 1.18x | 0.00x | 0.00x | 0.54x | 1.27x | 0.48x | 1.85x |
| Equity-to-Assets | 80.4% | 84.7% | 81.7% | 80.3% | 73.0% | 78.1% | 64.4% |
| Net Debt | 42 | -150 | -209 | -412 | -162 | -243 | 403 |
| Cash & Equivalents | 62 | 150 | 209 | 680 | 370 | 443 | 661 |
| Total Debt | 104 | N/A | N/A | 268 | 208 | 199 | 1,064 |
| Liquidity & working capital | |||||||
| Current Ratio | 1.83x | 2.86x | 3.34x | 5.00x | 3.09x | 4.29x | 9.48x |
| Quick Ratio | 0.98x | 1.64x | 1.30x | 2.48x | 1.28x | 2.42x | 6.80x |
| Cash Ratio | 0.23x | 0.63x | 0.53x | 1.77x | 0.50x | 0.94x | 2.22x |
| Total Current Assets | 490 | 677 | 1,319 | 1,922 | 2,281 | 2,015 | 2,828 |
| Total Current Liabilities | 268 | 237 | 394 | 384 | 737 | 470 | 298 |
| Inventory | 229 | 288 | 805 | 969 | 1,334 | 876 | 799 |
| Trade Receivables | 150 | 227 | 287 | 270 | 428 | 692 | 649 |
| Trade Payables | 163 | 222 | 391 | 236 | 601 | 425 | 216 |
| Net Working Capital | 223 | 440 | 925 | 1,537 | 1,544 | 1,545 | 2,529 |
| Net Working Capital % of Revenue | 30.2% | 28.1% | 48.9% | 64.1% | 46.2% | 44.1% | 77.2% |
| Trade Working Capital | 216 | 293 | 702 | 1,003 | 1,161 | 1,143 | 1,233 |
| Trade Working Capital % of Revenue | 29.3% | 18.7% | 37.1% | 41.8% | 34.7% | 32.6% | 37.6% |
| Change in Trade Working Capital | N/A | 77 | 409 | 302 | 157 | -18 | 90 |
| Turnover & efficiency | |||||||
| Inventory Turnover | 1.97x | 3.23x | 1.28x | 1.47x | 1.82x | 2.52x | 2.50x |
| Days Inventory Outstanding (DIO) | 185.3 | 113.0 | 285.2 | 247.7 | 200.8 | 144.7 | 146.0 |
| Receivables Turnover | 4.90x | 6.90x | 6.58x | 8.88x | 7.81x | 5.06x | 5.04x |
| Days Sales Outstanding (DSO) | 74.5 | 52.9 | 55.5 | 41.1 | 46.7 | 72.1 | 72.4 |
| Payables Turnover | 2.76x | 4.19x | 2.64x | 6.06x | 4.04x | 5.20x | 9.26x |
| Days Payable Outstanding (DPO) | 132.0 | 87.1 | 138.4 | 60.2 | 90.5 | 70.2 | 39.4 |
| Cash Conversion Cycle | 127.7 days | 78.7 days | 202.2 days | 228.6 days | 157.0 days | 146.6 days | 179.0 days |
| Asset Turnover | 0.54x | 1.01x | 0.88x | 0.88x | 1.09x | 1.18x | 0.87x |
| Cash flow & dividends | |||||||
| Operating Cash Flow | -158 | 249 | 48 | 239 | -87 | 554 | -30 |
| Free Cash Flow (OCF − Capex proxy) | -1,028 | 204 | 38 | 235 | -96 | 360 | -360 |
| Cash Conversion (OCF / EBITDA) | -179.3% | 110.3% | 10.2% | 48.4% | -53.0% | 134.4% | -5.1% |
| Dividends Declared | 0 | 0 | 0 | 0 | 106 | 274 | 857 |
| Dividend Payout Ratio | 0.0% | 0.0% | 0.0% | 0.0% | 66.0% | 76.1% | 206.2% |
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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