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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Operates in Real Estate — Mixed-Use Development. Per the activity note to the FY2024 annual report, the company implements development projects and constructs hydroelectric stations.
| Ratio | 2022 | 2023 | 2024 |
|---|---|---|---|
| Margins | |||
| Gross Margin | 40.0% | 41.1% | 20.8% |
| EBITDA Margin | 27.0% | 27.6% | -5.2% |
| EBITDAR | 571 | 1,515 | -474 |
| EBITDAR Margin | 27.0% | 27.6% | -5.2% |
| EBIT Margin | 26.6% | 24.6% | -13.2% |
| Net Profit Margin | 26.6% | 24.5% | -5.5% |
| Operating Expense % of Sales | 13.0% | 13.6% | 26.1% |
| Returns | |||
| Return on Assets (ROA) | 59.2% | 26.4% | -5.6% |
| Return on Equity (ROE) | 100.0% | 70.5% | -35.3% |
| ROIC [EBIT / Invested Capital] | 239.5% | 83.4% | N/A |
| Leverage & debt balances | |||
| Debt-to-Assets | 0.0% | 7.3% | 0.0% |
| Debt-to-Equity | 0.00x | 0.19x | 0.00x |
| Debt-to-EBITDA | 0.00x | 0.24x | N/A |
| Equity-to-Assets | 59.2% | 37.5% | 15.9% |
| Net Debt | -328 | -289 | -1,785 |
| Cash & Equivalents | 328 | 659 | 1,785 |
| Total Debt | N/A | 370 | N/A |
| Liquidity & working capital | |||
| Current Ratio | 0.68x | 0.71x | 0.28x |
| Quick Ratio | 0.68x | 0.71x | 0.28x |
| Cash Ratio | 0.84x | 0.21x | 0.24x |
| Total Current Assets | 266 | 2,279 | 2,091 |
| Total Current Liabilities | 389 | 3,189 | 7,494 |
| Inventory | N/A | N/A | N/A |
| Trade Receivables | 216 | 959 | 855 |
| Trade Payables | 277 | 246 | 745 |
| Net Working Capital | -123 | -910 | -5,403 |
| Net Working Capital % of Revenue | -5.8% | -16.6% | -59.8% |
| Trade Working Capital | -61 | 713 | 110 |
| Trade Working Capital % of Revenue | -2.9% | 13.0% | 1.2% |
| Change in Trade Working Capital | N/A | 774 | -602 |
| Turnover & efficiency | |||
| Inventory Turnover | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | N/A | N/A |
| Receivables Turnover | 9.79x | 5.74x | 10.56x |
| Days Sales Outstanding (DSO) | 37.3 | 63.6 | 34.6 |
| Payables Turnover | 4.58x | 13.14x | 9.60x |
| Days Payable Outstanding (DPO) | 79.7 | 27.8 | 38.0 |
| Cash Conversion Cycle | -42.4 days | 35.9 days | -3.5 days |
| Asset Turnover | 2.22x | 1.08x | 1.01x |
| Cash flow & dividends | |||
| Operating Cash Flow | 688 | 2,779 | 5,432 |
| Free Cash Flow (OCF − Capex proxy) | 321 | -29 | 1,471 |
| Cash Conversion (OCF / EBITDA) | 120.3% | 183.4% | 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 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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