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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Operates in Retail — Apparel. Per the activity note to the FY2024 annual report, the company carries out retail trade in apparel and accessories in specialized shops.
| Ratio | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross Margin | 54.1% | 40.2% | 50.7% | 55.5% | 51.9% | 51.6% |
| EBITDA Margin | 12.8% | -4.2% | 17.2% | 22.7% | 8.6% | 8.3% |
| EBITDAR | 533 | 272 | 810 | 1,477 | 559 | 643 |
| EBITDAR Margin | 36.5% | 21.5% | 36.2% | 37.3% | 8.6% | 8.3% |
| EBIT Margin | 8.7% | -11.2% | 14.1% | 19.8% | 4.6% | 4.6% |
| Net Profit Margin | 3.1% | -31.7% | 15.4% | 22.1% | 2.2% | 6.1% |
| Operating Expense % of Sales | 41.3% | 44.5% | 33.5% | 32.8% | 43.3% | 43.3% |
| Returns | ||||||
| Return on Assets (ROA) | 3.2% | -29.4% | 30.2% | 38.9% | 3.8% | 11.4% |
| Return on Equity (ROE) | 48.2% | N/A | 1342.1% | 106.8% | 13.9% | 29.9% |
| ROIC [EBIT / Invested Capital] | 12.2% | -20.3% | 34.8% | 45.7% | 14.7% | 14.9% |
| Leverage & debt balances | ||||||
| Debt-to-Assets | 69.9% | 82.3% | 78.2% | 43.9% | 30.5% | 20.5% |
| Debt-to-Equity | 10.65x | -3.65x | 34.74x | 1.20x | 1.11x | 0.54x |
| Debt-to-EBITDA | 5.33x | N/A | 2.32x | 1.10x | 2.09x | 1.33x |
| Equity-to-Assets | 6.6% | -22.6% | 2.3% | 36.5% | 27.4% | 38.1% |
| Net Debt | 949 | 1,008 | 879 | 901 | 1,004 | 770 |
| Cash & Equivalents | 48 | 116 | 12 | 85 | 166 | 88 |
| Total Debt | 997 | 1,124 | 891 | 985 | 1,171 | 858 |
| Liquidity & working capital | ||||||
| Current Ratio | 0.83x | 0.65x | 0.76x | 2.84x | 1.70x | 1.76x |
| Quick Ratio | 0.13x | 0.09x | 0.76x | 2.84x | 1.70x | 1.76x |
| Cash Ratio | 0.04x | 0.07x | 0.01x | 0.14x | 0.10x | 0.05x |
| Total Current Assets | 992 | 1,001 | 844 | 1,721 | 2,754 | 3,204 |
| Total Current Liabilities | 1,199 | 1,546 | 1,113 | 606 | 1,620 | 1,822 |
| Inventory | 833 | 858 | N/A | N/A | N/A | N/A |
| Trade Receivables | 16 | 12 | 23 | 16 | 28 | 255 |
| Trade Payables | 312 | 526 | 200 | 334 | 1,497 | 1,594 |
| Net Working Capital | -207 | -545 | -270 | 1,115 | 1,134 | 1,382 |
| Net Working Capital % of Revenue | -14.2% | -42.9% | -12.0% | 28.1% | 17.4% | 17.8% |
| Trade Working Capital | 537 | 344 | -178 | -319 | -1,469 | -1,338 |
| Trade Working Capital % of Revenue | 36.7% | 27.1% | -7.9% | -8.0% | -22.5% | -17.3% |
| Change in Trade Working Capital | N/A | -192 | -522 | -141 | -1,150 | 131 |
| Turnover & efficiency | ||||||
| Inventory Turnover | 0.80x | 0.88x | N/A | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | 453.8 | 413.2 | N/A | N/A | N/A | N/A |
| Receivables Turnover | 93.45x | 107.89x | 99.25x | 253.07x | 232.12x | 30.35x |
| Days Sales Outstanding (DSO) | 3.9 | 3.4 | 3.7 | 1.4 | 1.6 | 12.0 |
| Payables Turnover | 2.15x | 1.44x | 5.51x | 5.27x | 2.10x | 2.35x |
| Days Payable Outstanding (DPO) | 169.9 | 253.1 | 66.2 | 69.2 | 173.7 | 155.1 |
| Cash Conversion Cycle | 287.8 days | 163.5 days | -62.5 days | -67.8 days | -172.1 days | -143.1 days |
| Asset Turnover | 1.02x | 0.93x | 1.97x | 1.76x | 1.70x | 1.85x |
| Cash flow & dividends | ||||||
| Operating Cash Flow | -387 | 104 | 29 | 475 | 750 | 388 |
| Free Cash Flow (OCF − Capex proxy) | -772 | 86 | 28 | 79 | -71 | 199 |
| Cash Conversion (OCF / EBITDA) | -207.1% | N/A | 7.5% | 52.8% | 134.1% | 60.4% |
| 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 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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