Ratio	2018	2019	2020	2021
Margins
Gross Margin	54.9%	49.1%	8.9%	64.4%
EBITDA Margin	48.2%	44.1%	-4.4%	45.6%
EBITDAR	2,123	1,707	-151	347
EBITDAR Margin	48.2%	44.1%	-4.4%	45.6%
EBIT Margin	47.8%	43.5%	-5.4%	41.2%
Net Profit Margin	47.8%	43.3%	-7.0%	32.3%
Operating Expense % of Sales	6.7%	4.9%	13.2%	18.8%
Returns
Return on Assets (ROA)	236.5%	54.9%	-15.3%	13.9%
Return on Equity (ROE)	244.3%	55.6%	-15.9%	14.6%
ROIC [EBIT / Invested Capital]	551.7%	66.8%	-17.5%	18.8%
Leverage & liquidity
Debt-to-Assets	0.0%	0.0%	0.0%	0.0%
Debt-to-Equity	0.00x	0.00x	0.00x	0.00x
Debt-to-EBITDA	0.00x	0.00x	N/A	0.00x
Equity-to-Assets	96.8%	98.6%	96.2%	95.1%
Net Debt	-480	-494	-471	-17
Cash & Equivalents	480	494	471	17
Total Debt	N/A	N/A	N/A	N/A
Efficiency & working capital
Inventory Turnover	N/A	0.94x	55.11x	15.64x
Days Inventory Outstanding (DIO)	N/A	389.9	6.6	23.3
Receivables Turnover	N/A	N/A	4.61x	0.54x
Days Sales Outstanding (DSO)	N/A	N/A	79.2	678.0
Payables Turnover	69.39x	47.25x	52.64x	3.10x
Days Payable Outstanding (DPO)	5.3	7.7	6.9	117.8
Cash Conversion Cycle	-5.3 days	382.2 days	78.9 days	583.5 days
Asset Turnover	4.94x	1.27x	2.17x	0.43x
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