Ratio	2022	2023	2024
Margins
Gross Margin	45.4%	45.1%	47.8%
EBITDA Margin	9.6%	8.0%	-2.9%
EBITDAR	515	556	6
EBITDAR Margin	10.7%	9.8%	0.1%
EBIT Margin	9.1%	7.5%	-3.2%
Net Profit Margin	12.4%	10.3%	-5.3%
Operating Expense % of Sales	35.7%	37.1%	50.7%
Returns
Return on Assets (ROA)	26.6%	23.1%	-11.3%
Return on Equity (ROE)	100.7%	50.6%	-26.9%
ROIC [EBIT / Invested Capital]	76.0%	37.9%	-15.0%
Leverage & liquidity
Debt-to-Assets	0.0%	0.0%	3.7%
Debt-to-Equity	0.00x	0.00x	0.09x
Debt-to-EBITDA	0.00x	0.00x	N/A
Equity-to-Assets	26.4%	45.6%	41.9%
Net Debt	-18	-35	62
Cash & Equivalents	18	35	13
Total Debt	N/A	N/A	75
Efficiency & working capital
Inventory Turnover	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	N/A	N/A
Receivables Turnover	3.62x	3.49x	3.23x
Days Sales Outstanding (DSO)	101.0	104.7	113.1
Payables Turnover	2.10x	2.76x	2.39x
Days Payable Outstanding (DPO)	174.2	132.2	152.8
Cash Conversion Cycle	-73.2 days	-27.5 days	-39.7 days
Asset Turnover	2.14x	2.24x	2.11x
Cash flow & dividends
Operating Cash Flow	8	17	-22
Free Cash Flow (OCF − Capex proxy)	8	17	-22
Cash Conversion (OCF / EBITDA)	1.6%	3.7%	N/A
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 ₾ '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