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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 560 · FY2024 2,200 — 3-yr total 2,760
Georgian distribution arm of Berlin-Chemie/Menarini, the Italian-German pharmaceutical group, marketing its prescription medicines locally.
Subsidiary of Shezghuduli Pasukhismgeblobis Sazogadoeba Berlin Hemi 72445 Distribushens (100.0%)
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross Margin | 31.3% | 35.3% | 39.1% | 30.6% | 33.8% | 24.1% | 10.3% |
| EBITDA Margin | -2.2% | 3.9% | 15.5% | 4.9% | 4.4% | 3.8% | 3.6% |
| EBITDAR | -123 | 1,670 | 8,343 | 3,885 | 3,443 | 3,445 | 3,505 |
| EBITDAR Margin | -1.4% | 5.1% | 17.8% | 7.8% | 8.0% | 6.8% | 4.8% |
| EBIT Margin | -2.8% | 3.3% | 14.8% | 4.1% | 3.7% | 3.3% | 3.4% |
| Net Profit Margin | -4.3% | 2.5% | 13.7% | 3.9% | 1.4% | 3.0% | 2.5% |
| Operating Expense % of Sales | 33.6% | 31.4% | 23.6% | 25.7% | 30.9% | 20.3% | 6.8% |
| Returns | |||||||
| Return on Assets (ROA) | -2.8% | 3.8% | 34.2% | 12.0% | 3.7% | 5.5% | 11.6% |
| Return on Equity (ROE) | N/A | 164.3% | 92.9% | 22.1% | 6.3% | 14.4% | 18.3% |
| ROIC [EBIT / Invested Capital] | -14.7% | N/A | 111.9% | 23.7% | 21.6% | 20.9% | 27.9% |
| Leverage & debt balances | |||||||
| Debt-to-Assets | 15.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Debt-to-Equity | -6.71x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Debt-to-EBITDA | N/A | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Equity-to-Assets | -2.3% | 2.3% | 36.8% | 54.3% | 59.7% | 37.9% | 63.4% |
| Net Debt | 2,040 | -1,818 | -686 | -169 | -2,068 | -2,313 | -1,049 |
| Cash & Equivalents | 87 | 1,818 | 686 | 169 | 2,068 | 2,313 | 1,049 |
| Total Debt | 2,127 | N/A | N/A | N/A | N/A | N/A | N/A |
| Liquidity & working capital | |||||||
| Current Ratio | 0.87x | 0.95x | 1.48x | 2.08x | 2.40x | 1.59x | 2.68x |
| Quick Ratio | 0.62x | 0.61x | 1.02x | 1.35x | 1.63x | 0.98x | 1.76x |
| Cash Ratio | 0.01x | 0.09x | 0.06x | 0.02x | 0.32x | 0.14x | 0.18x |
| Total Current Assets | 12,286 | 19,530 | 17,568 | 15,487 | 15,330 | 27,074 | 15,487 |
| Total Current Liabilities | 14,086 | 20,605 | 11,840 | 7,436 | 6,377 | 17,001 | 5,774 |
| Inventory | 3,591 | 6,897 | 5,451 | 5,470 | 4,944 | 10,341 | 5,343 |
| Trade Receivables | 8,608 | 10,815 | 11,431 | 9,848 | 8,318 | 14,420 | 9,095 |
| Trade Payables | 11,959 | 20,605 | 11,840 | 6,090 | 5,044 | 15,562 | 4,258 |
| Net Working Capital | -1,800 | -1,075 | 5,728 | 8,051 | 8,953 | 10,073 | 9,713 |
| Net Working Capital % of Revenue | -19.9% | -3.3% | 12.2% | 16.1% | 20.7% | 19.9% | 13.3% |
| Trade Working Capital | 240 | -2,893 | 5,042 | 9,228 | 8,218 | 9,199 | 10,180 |
| Trade Working Capital % of Revenue | 2.7% | -8.8% | 10.8% | 18.4% | 19.0% | 18.2% | 13.9% |
| Change in Trade Working Capital | N/A | -3,133 | 7,935 | 4,186 | -1,010 | 981 | 981 |
| Turnover & efficiency | |||||||
| Inventory Turnover | 1.73x | 3.09x | 5.24x | 6.36x | 5.80x | 3.71x | 12.25x |
| Days Inventory Outstanding (DIO) | 211.5 | 118.3 | 69.7 | 57.4 | 63.0 | 98.4 | 29.8 |
| Receivables Turnover | 1.05x | 3.04x | 4.10x | 5.09x | 5.20x | 3.50x | 8.02x |
| Days Sales Outstanding (DSO) | 348.1 | 120.0 | 89.0 | 71.7 | 70.1 | 104.2 | 45.5 |
| Payables Turnover | 0.52x | 1.03x | 2.41x | 5.71x | 5.68x | 2.46x | 15.37x |
| Days Payable Outstanding (DPO) | 704.5 | 353.3 | 151.4 | 63.9 | 64.2 | 148.1 | 23.8 |
| Cash Conversion Cycle | -144.8 days | -115.0 days | 7.3 days | 65.2 days | 68.9 days | 54.5 days | 51.5 days |
| Asset Turnover | 0.66x | 1.56x | 2.50x | 3.08x | 2.74x | 1.85x | 4.62x |
| Cash flow & dividends | |||||||
| Operating Cash Flow | -464 | 4,453 | -1,226 | -39 | 1,669 | 951 | 595 |
| Free Cash Flow (OCF − Capex proxy) | -1,957 | 4,347 | -896 | 42 | 1,758 | 892 | 483 |
| Cash Conversion (OCF / EBITDA) | N/A | 348.2% | -16.9% | -1.6% | 88.1% | 49.2% | 22.7% |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 560 | 2,200 |
| Dividend Payout Ratio | N/A | 0.0% | 0.0% | 0.0% | 0.0% | 37.3% | 120.0% |
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).
Ranked by how close each latest revenue is to this one — not a curated comp set.