Ratio	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	54.1%	49.1%	44.8%	34.1%	33.3%	31.2%
EBITDA Margin	42.7%	34.3%	39.4%	24.0%	16.3%	12.7%
EBITDAR	1,057	911	2,249	1,706	928	754
EBITDAR Margin	43.0%	34.6%	39.6%	25.9%	19.7%	16.0%
EBIT Margin	42.6%	34.1%	39.4%	24.0%	15.9%	12.4%
Net Profit Margin	40.6%	31.0%	37.1%	24.4%	12.2%	10.2%
Operating Expense % of Sales	11.3%	14.8%	5.4%	10.1%	17.0%	18.5%
Returns
Return on Assets (ROA)	56.6%	37.4%	58.9%	20.6%	11.7%	11.3%
Return on Equity (ROE)	59.6%	40.1%	64.5%	41.4%	16.4%	14.3%
ROIC [EBIT / Invested Capital]	62.8%	42.4%	75.9%	40.0%	23.0%	17.6%
Leverage & liquidity
Debt-to-Assets	4.9%	6.8%	0.0%	2.8%	0.0%	0.0%
Debt-to-Equity	0.05x	0.07x	0.00x	0.06x	0.00x	0.00x
Debt-to-EBITDA	0.08x	0.16x	0.00x	0.14x	0.00x	0.00x
Equity-to-Assets	94.9%	93.2%	91.3%	49.8%	71.0%	79.2%
Net Debt	-4	83	-322	66	-242	-45
Cash & Equivalents	90	65	322	154	242	45
Total Debt	86	148	N/A	219	N/A	N/A
Efficiency & working capital
Inventory Turnover	2.44x	2.29x	N/A	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	149.8	159.3	N/A	N/A	N/A	N/A
Receivables Turnover	2.07x	1.74x	2.11x	1.87x	1.52x	1.60x
Days Sales Outstanding (DSO)	176.6	210.0	173.4	194.9	239.8	228.6
Payables Turnover	307.74x	N/A	10.04x	1.18x	2.42x	3.93x
Days Payable Outstanding (DPO)	1.2	N/A	36.4	308.5	150.8	92.8
Cash Conversion Cycle	325.2 days	369.2 days	137.0 days	-113.6 days	89.0 days	135.8 days
Asset Turnover	1.39x	1.21x	1.59x	0.85x	0.95x	1.11x
Cash flow & dividends
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow (OCF − Capex proxy)	N/A	N/A	N/A	N/A	N/A	N/A
Cash Conversion (OCF / EBITDA)	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Declared	N/A	N/A	N/A	N/A	N/A	N/A
Dividend Payout Ratio	N/A	N/A	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