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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Operates in Industrial Goods — Glass & Ceramics. Per the activity note to the FY2024 annual report, the company manufactures and sells glass packaging made from sheet glass.
| Ratio | 2022 | 2023 | 2024 |
|---|---|---|---|
| Margins | |||
| Gross Margin | 19.0% | 49.3% | 40.8% |
| EBITDA Margin | -0.1% | 13.9% | 8.1% |
| EBITDAR | -4 | 432 | 213 |
| EBITDAR Margin | -0.1% | 13.9% | 8.1% |
| EBIT Margin | -0.4% | 13.2% | 7.2% |
| Net Profit Margin | 4.9% | 10.2% | 4.9% |
| Operating Expense % of Sales | 19.2% | 35.4% | 32.7% |
| Returns | |||
| Return on Assets (ROA) | 8.2% | 18.6% | 8.0% |
| Return on Equity (ROE) | 187.3% | 82.9% | 25.2% |
| ROIC [EBIT / Invested Capital] | -0.8% | 35.0% | 17.2% |
| Leverage & debt balances | |||
| Debt-to-Assets | 82.9% | 58.4% | 56.0% |
| Debt-to-Equity | 18.98x | 2.60x | 1.76x |
| Debt-to-EBITDA | N/A | 2.31x | 4.24x |
| Equity-to-Assets | 4.4% | 22.5% | 31.9% |
| Net Debt | 1,222 | 787 | 594 |
| Cash & Equivalents | 29 | 211 | 310 |
| Total Debt | 1,251 | 998 | 904 |
| Liquidity & working capital | |||
| Current Ratio | 1.56x | 1.58x | 1.72x |
| Quick Ratio | 1.56x | 1.58x | 1.72x |
| Cash Ratio | 0.03x | 0.21x | 0.36x |
| Total Current Assets | 1,357 | 1,564 | 1,489 |
| Total Current Liabilities | 868 | 993 | 868 |
| Inventory | N/A | N/A | N/A |
| Trade Receivables | 345 | 212 | 204 |
| Trade Payables | 159 | 248 | 127 |
| Net Working Capital | 489 | 572 | 621 |
| Net Working Capital % of Revenue | 19.3% | 18.3% | 23.5% |
| Trade Working Capital | 186 | -36 | 77 |
| Trade Working Capital % of Revenue | 7.3% | -1.2% | 2.9% |
| Change in Trade Working Capital | N/A | -221 | 113 |
| Turnover & efficiency | |||
| Inventory Turnover | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | N/A | N/A |
| Receivables Turnover | 7.36x | 14.69x | 12.91x |
| Days Sales Outstanding (DSO) | 49.6 | 24.8 | 28.3 |
| Payables Turnover | 12.91x | 6.37x | 12.26x |
| Days Payable Outstanding (DPO) | 28.3 | 57.3 | 29.8 |
| Cash Conversion Cycle | 21.3 days | -32.5 days | -1.5 days |
| Asset Turnover | 1.68x | 1.82x | 1.63x |
| Cash flow & dividends | |||
| Operating Cash Flow | -1,161 | 421 | 186 |
| Free Cash Flow (OCF − Capex proxy) | -1,321 | 405 | 182 |
| Cash Conversion (OCF / EBITDA) | N/A | 97.4% | 87.2% |
| Dividends Declared | N/A | N/A | N/A |
| Dividend Payout Ratio | N/A | N/A | N/A |
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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