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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 0 · FY2024 0
Georgian subsidiary of Evolution AB, the Swedish live-casino technology provider. Operates live-dealer gaming studios in Tbilisi serving global online casino operators.
Subsidiary of Shezghuduli Pasukhismgeblobis Company Evolushenholding Limitedi С (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| EBITDA Margin | 33.4% | 18.5% | 20.2% | 36.4% | 15.1% | 12.7% | 18.7% | 17.7% |
| EBITDAR | 391 | 4,761 | 12,018 | 34,963 | 22,285 | 22,142 | 37,849 | 36,117 |
| EBITDAR Margin | 54.2% | 24.7% | 20.3% | 36.6% | 15.2% | 12.8% | 18.8% | 17.7% |
| EBIT Margin | 33.2% | 10.1% | 9.2% | 25.1% | 5.1% | 2.7% | 10.0% | 9.4% |
| Net Profit Margin | 8.9% | 5.5% | 2.7% | 6.4% | 9.2% | 6.9% | 6.9% | 7.3% |
| Operating Expense % of Sales | 66.6% | 81.5% | 79.8% | 63.6% | 84.9% | 87.3% | 81.3% | 82.3% |
| Returns | ||||||||
| Return on Assets (ROA) | 1.2% | 3.5% | 1.8% | 4.9% | 10.1% | 9.8% | 11.2% | 13.6% |
| Return on Equity (ROE) | 100.0% | 94.3% | 59.0% | 69.2% | 64.0% | 35.3% | 29.0% | 23.7% |
| ROIC [EBIT / Invested Capital] | 13.5% | 10.2% | 7.3% | 22.7% | 8.1% | 5.0% | 23.1% | 25.8% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 86.1% | 80.6% | 86.0% | 84.4% | 74.1% | 60.6% | 50.7% | 33.0% |
| Debt-to-Equity | 71.62x | 21.94x | 27.71x | 11.93x | 4.68x | 2.17x | 1.31x | 0.58x |
| Debt-to-EBITDA | 19.02x | 6.86x | 6.31x | 3.03x | 4.42x | 3.34x | 1.67x | 1.01x |
| Equity-to-Assets | 1.2% | 3.7% | 3.1% | 7.1% | 15.8% | 27.8% | 38.7% | 57.2% |
| Net Debt | 1,708 | 17,985 | 71,706 | 97,025 | 71,092 | 59,186 | 39,210 | 11,260 |
| Cash & Equivalents | 2,876 | 6,545 | 3,860 | 8,491 | 26,888 | 14,543 | 23,989 | 25,142 |
| Total Debt | 4,584 | 24,530 | 75,566 | 105,516 | 97,980 | 73,729 | 63,199 | 36,402 |
| Liquidity & working capital | ||||||||
| Current Ratio | 7.30x | 2.41x | 3.14x | 0.60x | 0.63x | 0.60x | 0.97x | 1.55x |
| Quick Ratio | 7.30x | 2.41x | 3.02x | 0.58x | 0.58x | 0.55x | 0.90x | 1.42x |
| Cash Ratio | 4.26x | 1.37x | 0.34x | 0.09x | 0.31x | 0.21x | 0.38x | 0.68x |
| Total Current Assets | 4,926 | 11,547 | 35,550 | 56,426 | 54,852 | 42,658 | 60,795 | 56,943 |
| Total Current Liabilities | 675 | 4,789 | 11,334 | 93,354 | 87,737 | 70,883 | 62,949 | 36,810 |
| Inventory | N/A | N/A | 1,310 | 2,224 | 3,808 | 3,966 | 3,852 | 4,542 |
| Trade Receivables | 1,126 | 5,002 | 22,186 | 40,024 | 19,374 | 23,618 | 27,960 | 21,778 |
| Trade Payables | 575 | 2,711 | 9,542 | 10,699 | 13,315 | 14,137 | 13,227 | 10,805 |
| Net Working Capital | 4,251 | 6,758 | 24,216 | -36,928 | -32,885 | -28,225 | -2,154 | 20,133 |
| Net Working Capital % of Revenue | 588.8% | 35.1% | 40.9% | -38.7% | -22.5% | -16.3% | -1.1% | 9.9% |
| Trade Working Capital | 551 | 2,291 | 13,954 | 31,549 | 9,867 | 13,447 | 18,585 | 15,515 |
| Trade Working Capital % of Revenue | 76.3% | 11.9% | 23.6% | 33.0% | 6.7% | 7.8% | 9.2% | 7.6% |
| Change in Trade Working Capital | N/A | 1,740 | 11,663 | 17,595 | -21,682 | 3,580 | 5,138 | -3,070 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Receivables Turnover | 0.64x | 3.85x | 2.67x | 2.39x | 7.56x | 7.33x | 7.21x | 9.36x |
| Days Sales Outstanding (DSO) | 569.2 | 94.8 | 136.7 | 153.0 | 48.3 | 49.8 | 50.6 | 39.0 |
| Payables Turnover | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Days Payable Outstanding (DPO) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash Conversion Cycle | 569.2 days | 94.8 days | 136.7 days | 153.0 days | 48.3 days | 49.8 days | 50.6 days | 39.0 days |
| Asset Turnover | 0.14x | 0.63x | 0.67x | 0.76x | 1.11x | 1.42x | 1.62x | 1.85x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | -602 | 3,333 | -10,159 | 22,812 | 43,845 | 15,737 | 24,576 | 37,611 |
| Free Cash Flow (OCF − Capex proxy) | -602 | -15,656 | -30,098 | -1,067 | 28,951 | 2,249 | 18,489 | 29,215 |
| Cash Conversion (OCF / EBITDA) | -249.8% | 93.3% | -84.8% | 65.5% | 197.8% | 71.4% | 65.0% | 104.3% |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
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.
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Ownership & directors from companyinfo.ge (public corporate registry).
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