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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Operates in Logistics & Transport — Warehousing & Distribution. Per the activity note to the FY2023 annual report, the company stores and warehouses frozen meat products, fruit and vegetables from both imported and local production. Founder: Milvus Holding Limited (Cyprus).
Subsidiary of Shezghuduli Pasukhismgeblobissazogadoeba Milvus Holding Limitedi (100.0%)
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross Margin | 99.9% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| EBITDA Margin | -39.9% | -224.1% | 32.4% | -31.5% | 44.8% | 6.9% | 59.3% |
| EBITDAR | -83 | -206 | 51 | -173 | 308 | 56 | 551 |
| EBITDAR Margin | -39.9% | -224.1% | 32.4% | -31.5% | 44.8% | 6.9% | 59.3% |
| EBIT Margin | -179.7% | -548.2% | -556.1% | -104.0% | 12.9% | -29.0% | 28.6% |
| Net Profit Margin | -39.8% | -224.1% | -559.9% | -31.5% | 5.8% | 7.0% | 29.1% |
| Operating Expense % of Sales | 139.8% | 324.1% | 67.6% | 131.5% | 55.2% | 93.1% | 40.7% |
| Returns | |||||||
| Return on Assets (ROA) | -1.7% | -4.0% | -20.3% | -3.5% | 0.8% | 1.2% | 5.2% |
| Return on Equity (ROE) | -1.7% | -4.4% | -23.3% | -4.8% | 1.1% | 1.5% | 6.9% |
| ROIC [EBIT / Invested Capital] | -7.9% | -9.7% | -20.3% | -11.8% | 1.9% | -5.0% | 5.4% |
| Leverage & debt balances | |||||||
| Debt-to-Assets | 0.0% | 10.3% | 12.5% | 25.7% | 23.0% | 21.0% | 23.6% |
| Debt-to-Equity | 0.00x | 0.12x | 0.14x | 0.36x | 0.30x | 0.27x | 0.31x |
| Debt-to-EBITDA | N/A | N/A | 10.61x | N/A | 3.56x | 17.62x | 2.22x |
| Equity-to-Assets | 99.9% | 89.5% | 87.3% | 72.1% | 76.4% | 78.3% | 75.7% |
| Net Debt | -139 | 527 | 529 | 1,261 | 1,068 | 983 | 1,019 |
| Cash & Equivalents | 139 | 10 | 14 | 25 | 31 | 11 | 204 |
| Total Debt | N/A | 537 | 543 | 1,287 | 1,099 | 993 | 1,223 |
| Liquidity & working capital | |||||||
| Current Ratio | 44.59x | 12.39x | 10.70x | 6.46x | 6.25x | 9.91x | 44.35x |
| Quick Ratio | 44.59x | 12.39x | 10.46x | 6.31x | 6.13x | 9.91x | 44.35x |
| Cash Ratio | 21.06x | 1.06x | 0.70x | 1.08x | 1.06x | 0.55x | 10.05x |
| Total Current Assets | 293 | 117 | 210 | 152 | 182 | 198 | 901 |
| Total Current Liabilities | 7 | 9 | 20 | 23 | 29 | 20 | 20 |
| Inventory | N/A | N/A | 5 | 3 | 3 | N/A | N/A |
| Trade Receivables | 105 | 93 | 82 | 112 | 147 | 198 | 143 |
| Trade Payables | 7 | 7 | N/A | 95 | 16 | 20 | 20 |
| Net Working Capital | 287 | 108 | 190 | 128 | 153 | 178 | 880 |
| Net Working Capital % of Revenue | 137.9% | 117.1% | 120.6% | 23.3% | 22.2% | 21.9% | 94.8% |
| Trade Working Capital | 99 | 86 | 86 | 20 | 135 | 178 | 122 |
| Trade Working Capital % of Revenue | 47.5% | 93.1% | 54.9% | 3.6% | 19.6% | 21.9% | 13.2% |
| Change in Trade Working Capital | N/A | -13 | 1 | -66 | 115 | 43 | -56 |
| Turnover & efficiency | |||||||
| Inventory Turnover | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Receivables Turnover | 1.97x | 0.99x | 1.93x | 4.92x | 4.67x | 4.11x | 6.51x |
| Days Sales Outstanding (DSO) | 184.9 | 368.3 | 189.2 | 74.1 | 78.1 | 88.9 | 56.1 |
| Payables Turnover | 0.02x | N/A | N/A | N/A | N/A | N/A | N/A |
| Days Payable Outstanding (DPO) | 20359.6 | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash Conversion Cycle | -20174.6 days | 368.3 days | 189.2 days | 74.1 days | 78.1 days | 88.9 days | 56.1 days |
| Asset Turnover | 0.04x | 0.02x | 0.04x | 0.11x | 0.14x | 0.17x | 0.18x |
| Cash flow & dividends | |||||||
| Operating Cash Flow | 31 | -25 | 130 | 21 | 5 | -20 | 630 |
| Free Cash Flow (OCF − Capex proxy) | 31 | -129 | 105 | 21 | 5 | -20 | 6 |
| Cash Conversion (OCF / EBITDA) | N/A | N/A | 254.5% | N/A | 1.8% | -35.4% | 114.3% |
| Dividends Declared | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Dividend Payout Ratio | N/A | N/A | 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 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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