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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Operates in Industrial Goods — Production - Furniture. Per the activity note to the FY2024 annual report, the company manufactures curtains, blinds and insect screens.
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross Margin | 59.6% | 60.2% | 59.7% | 59.3% | 58.3% | 53.5% | 59.8% |
| EBITDA Margin | 15.4% | 6.7% | 6.1% | 12.8% | 12.1% | -3.4% | 0.0% |
| EBITDAR | 290 | 171 | 142 | 265 | 256 | 35 | 95 |
| EBITDAR Margin | 19.0% | 11.4% | 10.3% | 16.7% | 16.4% | 1.8% | 5.5% |
| EBIT Margin | 13.7% | 5.0% | 4.3% | 11.2% | 10.3% | -5.4% | -2.6% |
| Net Profit Margin | 11.6% | 1.9% | 1.1% | 9.2% | 12.5% | -5.3% | -0.5% |
| Operating Expense % of Sales | 44.2% | 53.5% | 53.7% | 46.5% | 46.2% | 56.8% | 59.8% |
| Returns | |||||||
| Return on Assets (ROA) | 15.7% | 2.2% | 1.2% | 10.5% | 13.1% | -5.6% | -0.6% |
| Return on Equity (ROE) | 33.4% | 5.8% | 3.1% | 22.5% | 23.0% | -13.9% | -1.3% |
| ROIC [EBIT / Invested Capital] | 20.8% | 7.1% | 5.3% | 15.7% | 12.0% | -6.6% | -3.2% |
| Leverage & debt balances | |||||||
| Debt-to-Assets | 44.7% | 49.3% | 49.2% | 35.7% | 32.9% | 46.1% | 39.9% |
| Debt-to-Equity | 0.95x | 1.29x | 1.30x | 0.77x | 0.58x | 1.15x | 0.89x |
| Debt-to-EBITDA | 2.15x | 6.25x | 7.84x | 2.47x | 2.61x | N/A | 1630.37x |
| Equity-to-Assets | 47.0% | 38.3% | 37.7% | 46.4% | 57.0% | 40.0% | 44.7% |
| Net Debt | 478 | 567 | 615 | 488 | 485 | 841 | 654 |
| Cash & Equivalents | 28 | 64 | 45 | 14 | 5 | 16 | 3 |
| Total Debt | 506 | 631 | 660 | 502 | 489 | 858 | 657 |
| Liquidity & working capital | |||||||
| Current Ratio | 1.58x | 1.16x | 1.17x | 1.39x | 1.63x | 0.97x | 0.96x |
| Quick Ratio | 1.58x | 0.14x | 0.13x | 0.18x | 1.63x | 0.97x | 0.96x |
| Cash Ratio | 0.05x | 0.08x | 0.05x | 0.02x | 0.01x | 0.01x | 0.00x |
| Total Current Assets | 941 | 895 | 967 | 1,051 | 1,021 | 1,065 | 848 |
| Total Current Liabilities | 597 | 771 | 829 | 754 | 627 | 1,097 | 882 |
| Inventory | N/A | 785 | 856 | 916 | N/A | N/A | N/A |
| Trade Receivables | 32 | 29 | 53 | 79 | 68 | 118 | 44 |
| Trade Payables | 89 | 137 | 167 | 240 | 125 | 233 | 224 |
| Net Working Capital | 344 | 124 | 138 | 297 | 395 | -32 | -34 |
| Net Working Capital % of Revenue | 22.5% | 8.2% | 10.0% | 18.6% | 25.4% | -1.6% | -1.9% |
| Trade Working Capital | -57 | 677 | 741 | 755 | -58 | -115 | -180 |
| Trade Working Capital % of Revenue | -3.7% | 45.1% | 53.6% | 47.4% | -3.7% | -5.9% | -10.4% |
| Change in Trade Working Capital | N/A | 734 | 64 | 14 | -813 | -57 | -65 |
| Turnover & efficiency | |||||||
| Inventory Turnover | N/A | 0.76x | 0.65x | 0.71x | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | 479.3 | 561.0 | 514.9 | N/A | N/A | N/A |
| Receivables Turnover | 47.81x | 51.51x | 26.32x | 20.10x | 22.96x | 16.49x | 39.94x |
| Days Sales Outstanding (DSO) | 7.6 | 7.1 | 13.9 | 18.2 | 15.9 | 22.1 | 9.1 |
| Payables Turnover | 6.92x | 4.37x | 3.32x | 2.71x | 5.17x | 3.89x | 3.13x |
| Days Payable Outstanding (DPO) | 52.7 | 83.6 | 109.8 | 134.9 | 70.6 | 93.8 | 116.8 |
| Cash Conversion Cycle | -45.1 days | 402.8 days | 465.0 days | 398.2 days | -54.7 days | -71.7 days | -107.6 days |
| Asset Turnover | 1.35x | 1.17x | 1.03x | 1.13x | 1.04x | 1.05x | 1.06x |
| Cash flow & dividends | |||||||
| Operating Cash Flow | -96 | 300 | 203 | 122 | 1 | -66 | 282 |
| Free Cash Flow (OCF − Capex proxy) | -222 | 81 | 199 | 120 | -37 | -84 | 257 |
| Cash Conversion (OCF / EBITDA) | -40.7% | 297.2% | 241.2% | 60.0% | 0.8% | N/A | 70038.2% |
| 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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