Ratio	2022	2023	2024
Margins
Gross Margin	42.0%	32.3%	42.5%
EBITDA Margin	11.4%	7.3%	16.9%
EBITDAR	279	600	2,789
EBITDAR Margin	11.4%	7.3%	16.9%
EBIT Margin	10.8%	6.2%	16.2%
Net Profit Margin	12.7%	7.1%	15.4%
Operating Expense % of Sales	30.6%	25.0%	25.6%
Returns
Return on Assets (ROA)	6.3%	13.6%	24.6%
Return on Equity (ROE)	50.8%	48.9%	64.0%
ROIC [EBIT / Invested Capital]	5.6%	35.0%	41.5%
Leverage & liquidity
Debt-to-Assets	87.3%	8.8%	34.1%
Debt-to-Equity	7.05x	0.32x	0.89x
Debt-to-EBITDA	15.53x	0.63x	1.26x
Equity-to-Assets	12.4%	27.7%	38.5%
Net Debt	4,133	254	2,479
Cash & Equivalents	195	127	1,031
Total Debt	4,328	381	3,510
Efficiency & working capital
Inventory Turnover	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	N/A	N/A
Receivables Turnover	7.77x	22.25x	13.45x
Days Sales Outstanding (DSO)	47.0	16.4	27.1
Payables Turnover	N/A	11.85x	19.34x
Days Payable Outstanding (DPO)	N/A	30.8	18.9
Cash Conversion Cycle	47.0 days	-14.4 days	8.3 days
Asset Turnover	0.49x	1.90x	1.60x
Cash flow & dividends
Operating Cash Flow	N/A	-88	957
Free Cash Flow (OCF − Capex proxy)	N/A	-344	-1,916
Cash Conversion (OCF / EBITDA)	N/A	-14.6%	34.3%
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