Ratio	2019	2020	2021	2022	2023
Margins
Gross Margin	28.6%	26.3%	29.4%	28.8%	35.7%
EBITDA Margin	16.0%	15.5%	20.4%	13.0%	-23.0%
EBITDAR	556	655	1,032	590	-78
EBITDAR Margin	20.2%	17.8%	23.0%	16.1%	-14.8%
EBIT Margin	15.8%	15.1%	20.0%	12.4%	-27.9%
Net Profit Margin	14.8%	14.0%	18.4%	9.1%	-40.9%
Operating Expense % of Sales	12.6%	10.9%	9.0%	15.8%	58.7%
Returns
Return on Assets (ROA)	84.9%	41.3%	73.5%	33.5%	-29.1%
Return on Equity (ROE)	169.3%	100.1%	88.7%	36.1%	-32.5%
ROIC [EBIT / Invested Capital]	249.6%	282.1%	322.9%	393.2%	-28.9%
Leverage & liquidity
Debt-to-Assets	0.0%	1.5%	0.0%	0.0%	0.0%
Debt-to-Equity	0.00x	0.04x	0.00x	0.00x	0.00x
Debt-to-EBITDA	0.00x	0.03x	0.00x	0.00x	N/A
Equity-to-Assets	50.1%	41.3%	82.9%	92.8%	89.5%
Net Debt	-66	-317	-651	-814	-154
Cash & Equivalents	66	337	651	814	154
Total Debt	N/A	19	N/A	N/A	N/A
Efficiency & working capital
Inventory Turnover	7.61x	4.18x	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	48.0	87.3	N/A	N/A	N/A
Receivables Turnover	222.72x	135.52x	224.13x	1595.76x	1.39x
Days Sales Outstanding (DSO)	1.6	2.7	1.6	0.2	263.2
Payables Turnover	486.63x	N/A	1179.17x	854.54x	84.26x
Days Payable Outstanding (DPO)	0.8	N/A	0.3	0.4	4.3
Cash Conversion Cycle	48.9 days	90.0 days	1.3 days	-0.2 days	258.8 days
Asset Turnover	5.75x	2.95x	4.00x	3.67x	0.71x
Cash flow & dividends
Operating Cash Flow	327	540	723	609	-489
Free Cash Flow (OCF − Capex proxy)	210	499	698	509	-617
Cash Conversion (OCF / EBITDA)	74.2%	94.8%	79.0%	127.8%	N/A
Dividends Declared	N/A	N/A	N/A	N/A	N/A
Dividend Payout Ratio	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