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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 2,774 · FY2023 15,746 · FY2024 7,305 — 3-yr total 25,825
Petrocas Fuel Services Georgia LLC is part of Petrocas Energy Group (HQ Cyprus) — one of the country's largest jet-fuel suppliers and the FBO / handler at Tbilisi International Airport, providing into-plane fueling, aircraft and pilot services.
Subsidiary of GEIG (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 18.6% | 10.0% | 8.0% | 18.8% | 14.2% | 5.9% | 8.2% | 9.2% |
| EBITDA Margin | 14.4% | 7.8% | 6.1% | 14.5% | 11.4% | 1.4% | 5.5% | 5.7% |
| EBITDAR | 4,473 | 9,902 | 8,612 | 8,519 | 17,720 | 4,550 | 12,174 | 11,036 |
| EBITDAR Margin | 14.4% | 7.8% | 6.1% | 14.5% | 11.4% | 1.4% | 5.5% | 5.7% |
| EBIT Margin | 13.5% | 7.3% | 5.4% | 12.6% | 10.7% | 1.0% | 5.0% | 4.9% |
| Net Profit Margin | 12.6% | 7.3% | 7.7% | 13.6% | 10.7% | 1.1% | 5.4% | 6.1% |
| Operating Expense % of Sales | 4.1% | 2.2% | 2.2% | 5.1% | 2.8% | 4.5% | 2.7% | 3.5% |
| Returns | ||||||||
| Return on Assets (ROA) | 17.2% | 30.5% | 22.8% | 23.2% | 32.8% | 6.6% | 26.9% | 21.2% |
| Return on Equity (ROE) | 36.8% | 69.4% | 76.9% | 46.3% | 68.5% | 14.7% | 55.6% | 45.4% |
| ROIC [EBIT / Invested Capital] | 61.4% | 73.8% | 54.9% | 46.8% | 72.2% | 31.1% | 52.3% | 34.5% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 0.0% | 0.0% | 5.1% | 7.3% | 4.2% | 2.9% | 33.5% | 27.6% |
| Debt-to-Equity | 0.00x | 0.00x | 0.17x | 0.15x | 0.09x | 0.07x | 0.69x | 0.59x |
| Debt-to-EBITDA | 0.00x | 0.00x | 0.28x | 0.30x | 0.12x | 0.36x | 1.22x | 1.39x |
| Equity-to-Assets | 46.9% | 43.9% | 29.7% | 50.0% | 47.8% | 44.7% | 48.3% | 46.5% |
| Net Debt | -3,778 | -806 | -230 | -1,417 | -1,388 | -14,478 | -272 | 1,711 |
| Cash & Equivalents | 3,778 | 806 | 2,677 | 3,941 | 3,522 | 16,121 | 15,130 | 13,643 |
| Total Debt | N/A | N/A | 2,447 | 2,524 | 2,134 | 1,643 | 14,858 | 15,354 |
| Liquidity & working capital | ||||||||
| Current Ratio | 1.55x | 1.35x | 1.21x | 1.73x | 1.75x | 1.62x | 1.64x | 1.51x |
| Quick Ratio | 0.48x | 0.66x | 0.78x | 1.19x | 0.83x | 0.75x | 0.90x | 0.52x |
| Cash Ratio | 0.39x | 0.05x | 0.09x | 0.26x | 0.14x | 0.54x | 0.70x | 0.48x |
| Total Current Assets | 15,091 | 23,084 | 38,013 | 25,843 | 43,066 | 48,336 | 35,641 | 43,281 |
| Total Current Liabilities | 9,735 | 17,040 | 31,307 | 14,980 | 24,674 | 29,811 | 21,746 | 28,654 |
| Inventory | 10,435 | 11,861 | 13,519 | 7,976 | 22,695 | 25,865 | 16,024 | 28,349 |
| Trade Receivables | 878 | 10,082 | 17,979 | 13,495 | 16,043 | 5,444 | 2,237 | 645 |
| Trade Payables | 9,735 | 9,071 | 19,681 | 9,512 | 4,907 | 12,393 | 1,313 | 1,029 |
| Net Working Capital | 5,356 | 6,044 | 6,706 | 10,863 | 18,392 | 18,525 | 13,895 | 14,627 |
| Net Working Capital % of Revenue | 17.3% | 4.8% | 4.7% | 18.4% | 11.9% | 5.7% | 6.3% | 7.6% |
| Trade Working Capital | 1,578 | 12,872 | 11,817 | 11,959 | 33,831 | 18,916 | 16,948 | 27,965 |
| Trade Working Capital % of Revenue | 5.1% | 10.2% | 8.3% | 20.3% | 21.8% | 5.8% | 7.7% | 14.5% |
| Change in Trade Working Capital | N/A | 11,294 | -1,055 | 142 | 21,872 | -14,915 | -1,968 | 11,017 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 2.42x | 9.58x | 9.67x | 6.00x | 5.86x | 11.79x | 12.61x | 6.16x |
| Days Inventory Outstanding (DIO) | 151.0 | 38.1 | 37.8 | 60.8 | 62.3 | 31.0 | 29.0 | 59.3 |
| Receivables Turnover | 35.28x | 12.52x | 7.90x | 4.37x | 9.67x | 59.53x | 98.40x | 298.18x |
| Days Sales Outstanding (DSO) | 10.3 | 29.1 | 46.2 | 83.6 | 37.8 | 6.1 | 3.7 | 1.2 |
| Payables Turnover | 2.59x | 12.52x | 6.64x | 5.03x | 27.11x | 24.61x | 153.87x | 169.64x |
| Days Payable Outstanding (DPO) | 140.8 | 29.1 | 55.0 | 72.6 | 13.5 | 14.8 | 2.4 | 2.2 |
| Cash Conversion Cycle | 20.5 days | 38.1 days | 29.0 days | 71.9 days | 86.6 days | 22.3 days | 30.3 days | 58.3 days |
| Asset Turnover | 1.37x | 4.15x | 2.98x | 1.71x | 3.05x | 5.74x | 4.97x | 3.46x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 4,775 | 4,026 | 12,884 | 6,190 | 10,768 | 19,916 | 3,472 | 10,206 |
| Free Cash Flow (OCF − Capex proxy) | 4,775 | 3,575 | 12,045 | 6,108 | 10,442 | 18,484 | 1,954 | 5,308 |
| Cash Conversion (OCF / EBITDA) | 106.8% | 40.7% | 149.6% | 72.7% | 60.8% | 437.7% | 28.5% | 92.5% |
| Dividends Declared | 1,550 | 6,495 | 10,078 | 4,890 | 9,585 | 2,774 | 15,746 | 7,305 |
| Dividend Payout Ratio | 39.8% | 70.1% | 92.7% | 61.2% | 57.5% | 74.8% | 132.3% | 62.2% |
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.
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Ownership & directors from companyinfo.ge (public corporate registry).
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