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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2021 1,722 · FY2022 13,403 · FY2023 3,777 — 3-yr total 18,902
Operates in Oil & Gas — Distribution - Fuel. Per the activity note to the FY2023 annual report, the company operates fuel distribution stations and carries out subleasing of leased stations.
Group parent — controls 3 companies · ownership
| Ratio | 2021 | 2022 | 2023 |
|---|---|---|---|
| Margins | |||
| Gross Margin | 4.5% | 5.1% | 2.8% |
| EBITDA Margin | 2.3% | 3.9% | 2.9% |
| EBITDAR | 6,516 | 16,687 | 9,805 |
| EBITDAR Margin | 3.1% | 4.5% | 3.7% |
| EBIT Margin | 1.6% | 3.2% | 2.1% |
| Net Profit Margin | 0.8% | 1.8% | -4.2% |
| Operating Expense % of Sales | 2.1% | 1.2% | 0.1% |
| Returns | |||
| Return on Assets (ROA) | 4.0% | 10.5% | -40.5% |
| Return on Equity (ROE) | 20.2% | 507.6% | N/A |
| ROIC [EBIT / Invested Capital] | 12.9% | 35.2% | 33.4% |
| Leverage & debt balances | |||
| Debt-to-Assets | 47.6% | 54.6% | 102.2% |
| Debt-to-Equity | 2.42x | 26.47x | -2.48x |
| Debt-to-EBITDA | 3.96x | 2.38x | 3.67x |
| Equity-to-Assets | 19.7% | 2.1% | -41.3% |
| Net Debt | 18,637 | 32,816 | 27,634 |
| Cash & Equivalents | 707 | 1,335 | 1 |
| Total Debt | 19,344 | 34,151 | 27,635 |
| Liquidity & working capital | |||
| Current Ratio | 0.70x | 0.75x | 0.36x |
| Quick Ratio | 0.16x | 0.35x | 0.21x |
| Cash Ratio | 0.02x | 0.02x | 0.00x |
| Total Current Assets | 22,955 | 45,825 | 13,615 |
| Total Current Liabilities | 32,617 | 61,273 | 38,209 |
| Inventory | 17,730 | 24,564 | 5,766 |
| Trade Receivables | 1,869 | 12,200 | 4 |
| Trade Payables | 12,186 | 20,944 | 9,902 |
| Net Working Capital | -9,662 | -15,448 | -24,594 |
| Net Working Capital % of Revenue | -4.6% | -4.2% | -9.3% |
| Trade Working Capital | 7,413 | 15,820 | -4,132 |
| Trade Working Capital % of Revenue | 3.5% | 4.3% | -1.6% |
| Change in Trade Working Capital | N/A | 8,407 | -19,952 |
| Turnover & efficiency | |||
| Inventory Turnover | 11.38x | 14.34x | 44.39x |
| Days Inventory Outstanding (DIO) | 32.1 | 25.5 | 8.2 |
| Receivables Turnover | 113.04x | 30.40x | 68092.06x |
| Days Sales Outstanding (DSO) | 3.2 | 12.0 | 0.0 |
| Payables Turnover | 16.56x | 16.81x | 25.85x |
| Days Payable Outstanding (DPO) | 22.0 | 21.7 | 14.1 |
| Cash Conversion Cycle | 13.3 days | 15.8 days | -5.9 days |
| Asset Turnover | 5.20x | 5.93x | 9.74x |
| Cash flow & dividends | |||
| Operating Cash Flow | 18 | 7,831 | 6,285 |
| Free Cash Flow (OCF − Capex proxy) | -2,518 | 1,479 | 8,878 |
| Cash Conversion (OCF / EBITDA) | 0.4% | 54.5% | 83.5% |
| Dividends Declared | 1,722 | 13,403 | 3,777 |
| Dividend Payout Ratio | 106.6% | 204.7% | 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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