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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2021 0 · FY2022 3,663 · FY2023 3,426 — 3-yr total 7,089
Georgian steel trading company.
Group parent — controls 1 company · ownership
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross Margin | 5.8% | 10.0% | 0.1% | 25.7% | 22.3% | 10.8% |
| EBITDA Margin | 5.6% | 9.1% | -17.7% | 33.5% | 18.6% | -8.9% |
| EBITDAR | 3,637 | 14,902 | -28,977 | 237,685 | 124,109 | -32,014 |
| EBITDAR Margin | 5.6% | 9.1% | -17.7% | 33.5% | 18.6% | -8.9% |
| EBIT Margin | 4.1% | 7.1% | -17.7% | 33.5% | 17.3% | -10.4% |
| Net Profit Margin | 2.4% | -21.7% | -23.9% | 32.7% | 8.1% | -4.2% |
| Operating Expense % of Sales | 0.2% | 0.9% | 22.3% | 1.2% | 3.7% | 19.8% |
| Returns | ||||||
| Return on Assets (ROA) | 7.3% | -95.3% | -47.9% | 48.4% | 13.5% | -2.7% |
| Return on Equity (ROE) | 158.6% | N/A | N/A | 150.7% | 26.7% | -8.0% |
| ROIC [EBIT / Invested Capital] | 36.6% | 104.9% | -128.4% | 77.0% | 36.5% | -11.5% |
| Leverage & debt balances | ||||||
| Debt-to-Assets | 46.3% | 139.8% | 124.4% | 35.1% | 34.0% | 24.8% |
| Debt-to-Equity | 10.08x | -1.39x | -1.32x | 1.09x | 0.67x | 0.74x |
| Debt-to-EBITDA | 2.68x | 3.50x | N/A | 0.71x | 1.10x | N/A |
| Equity-to-Assets | 4.6% | -100.7% | -94.5% | 32.1% | 50.6% | 33.5% |
| Net Debt | 6,244 | 48,686 | 99,728 | 154,734 | 112,797 | 135,750 |
| Cash & Equivalents | 3,517 | 3,483 | 1,861 | 13,625 | 23,762 | 3,971 |
| Total Debt | 9,761 | 52,169 | 101,589 | 168,359 | 136,559 | 139,721 |
| Liquidity & working capital | ||||||
| Current Ratio | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Quick Ratio | -0.00x | -0.12x | -0.08x | -0.15x | -0.34x | -0.52x |
| Cash Ratio | 0.17x | 0.05x | 0.01x | 0.06x | 0.15x | 0.01x |
| Total Current Assets | 0 | 0 | 0 | 0 | 70 | 70 |
| Total Current Liabilities | 20,179 | 71,176 | 135,657 | 230,667 | 161,095 | 300,946 |
| Inventory | 14 | 8,691 | 10,830 | 35,361 | 55,029 | 157,751 |
| Trade Receivables | 16,504 | 19,579 | 28,547 | 250,596 | 117,806 | 204,967 |
| Trade Payables | 10,335 | 15,203 | 42,735 | 140,701 | 49,906 | 207,114 |
| Net Working Capital | -20,179 | -71,176 | -135,657 | -230,667 | -161,025 | -300,876 |
| Net Working Capital % of Revenue | -31.2% | -43.5% | -82.9% | -32.5% | -24.1% | -83.8% |
| Trade Working Capital | 6,183 | 13,067 | -3,357 | 145,257 | 122,928 | 155,603 |
| Trade Working Capital % of Revenue | 9.6% | 8.0% | -2.1% | 20.5% | 18.4% | 43.3% |
| Change in Trade Working Capital | N/A | 6,884 | -16,425 | 148,614 | -22,329 | 32,675 |
| Turnover & efficiency | ||||||
| Inventory Turnover | 4208.80x | 16.96x | 15.10x | 14.92x | 9.44x | 2.03x |
| Days Inventory Outstanding (DIO) | 0.1 | 21.5 | 24.2 | 24.5 | 38.7 | 179.9 |
| Receivables Turnover | 3.92x | 8.36x | 5.73x | 2.83x | 5.67x | 1.75x |
| Days Sales Outstanding (DSO) | 93.2 | 43.6 | 63.7 | 128.8 | 64.3 | 208.4 |
| Payables Turnover | 5.89x | 9.69x | 3.83x | 3.75x | 10.41x | 1.55x |
| Days Payable Outstanding (DPO) | 62.0 | 37.7 | 95.4 | 97.3 | 35.1 | 236.2 |
| Cash Conversion Cycle | 31.3 days | 27.5 days | -7.5 days | 56.0 days | 67.9 days | 152.1 days |
| Asset Turnover | 3.07x | 4.39x | 2.00x | 1.48x | 1.66x | 0.64x |
| Cash flow & dividends | ||||||
| Operating Cash Flow | -4,051 | 4,385 | 18,599 | -17,308 | 73,865 | -32,902 |
| Free Cash Flow (OCF − Capex proxy) | -4,754 | 3,155 | -40,289 | -49,229 | 26,624 | -29,838 |
| Cash Conversion (OCF / EBITDA) | -111.4% | 29.4% | N/A | -7.3% | 59.5% | N/A |
| Dividends Declared | 568 | 1,474 | 568 | 0 | 3,663 | 3,426 |
| Dividend Payout Ratio | 37.0% | N/A | N/A | 0.0% | 6.7% | 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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