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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2020 0 · FY2021 0 · FY2022 0 — 3-yr total 0
Operates in Construction — Infrastructure & Roads. Per the activity note to the FY2022 annual report, the company constructs roads and highways.
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross Margin | 15.6% | 11.1% | 14.7% | 7.6% | 11.5% |
| EBITDA Margin | 9.7% | 3.7% | 12.2% | -1.5% | 4.5% |
| EBITDAR | 1,615 | 1,298 | 2,912 | -343 | 1,136 |
| EBITDAR Margin | 9.8% | 3.8% | 12.2% | -1.5% | 4.5% |
| EBIT Margin | 8.9% | 2.7% | 12.2% | -1.5% | 4.5% |
| Net Profit Margin | 9.5% | 2.1% | 10.9% | -4.1% | 1.7% |
| Operating Expense % of Sales | 6.0% | 7.4% | 2.6% | 9.1% | 7.0% |
| Returns | |||||
| Return on Assets (ROA) | 38.9% | 6.2% | 17.8% | -4.6% | 1.9% |
| Return on Equity (ROE) | 68.8% | 21.1% | 45.1% | -19.0% | 8.3% |
| ROIC [EBIT / Invested Capital] | 57.6% | 11.1% | 24.7% | -2.8% | 10.8% |
| Leverage & debt balances | |||||
| Debt-to-Assets | 12.2% | 44.7% | 45.2% | 38.1% | 24.3% |
| Debt-to-Equity | 0.22x | 1.51x | 1.15x | 1.56x | 1.05x |
| Debt-to-EBITDA | 0.31x | 4.14x | 2.27x | N/A | 4.75x |
| Equity-to-Assets | 56.5% | 29.5% | 39.4% | 24.4% | 23.1% |
| Net Debt | 252 | 5,027 | 6,039 | 7,547 | 5,360 |
| Cash & Equivalents | 241 | 168 | 569 | 16 | 38 |
| Total Debt | 493 | 5,196 | 6,607 | 7,563 | 5,398 |
| Liquidity & working capital | |||||
| Current Ratio | 1.82x | 1.17x | 0.93x | 5.58x | 0.75x |
| Quick Ratio | 1.82x | 1.06x | 0.83x | 4.95x | 0.52x |
| Cash Ratio | 0.19x | 0.05x | 0.12x | 0.01x | 0.00x |
| Total Current Assets | 2,315 | 3,886 | 4,353 | 8,864 | 12,111 |
| Total Current Liabilities | 1,272 | 3,331 | 4,691 | 1,589 | 16,224 |
| Inventory | N/A | 340 | 461 | 994 | 3,732 |
| Trade Receivables | 2,074 | 3,393 | 3,075 | 7,077 | 7,108 |
| Trade Payables | 1,217 | 2,621 | 1,103 | 3,912 | 3,575 |
| Net Working Capital | 1,042 | 555 | -337 | 7,274 | -4,113 |
| Net Working Capital % of Revenue | 6.3% | 1.6% | -1.4% | 32.1% | -16.4% |
| Trade Working Capital | 856 | 1,112 | 2,433 | 4,159 | 7,265 |
| Trade Working Capital % of Revenue | 5.2% | 3.3% | 10.2% | 18.4% | 28.9% |
| Change in Trade Working Capital | N/A | 256 | 1,321 | 1,726 | 3,106 |
| Turnover & efficiency | |||||
| Inventory Turnover | N/A | 89.24x | 44.24x | 21.04x | 5.95x |
| Days Inventory Outstanding (DIO) | N/A | 4.1 | 8.3 | 17.3 | 61.3 |
| Receivables Turnover | 7.92x | 10.06x | 7.78x | 3.20x | 3.53x |
| Days Sales Outstanding (DSO) | 46.1 | 36.3 | 46.9 | 114.1 | 103.3 |
| Payables Turnover | 11.38x | 11.58x | 18.49x | 5.35x | 6.22x |
| Days Payable Outstanding (DPO) | 32.1 | 31.5 | 19.7 | 68.3 | 58.7 |
| Cash Conversion Cycle | 14.0 days | 8.9 days | 35.4 days | 63.2 days | 105.9 days |
| Asset Turnover | 4.08x | 2.94x | 1.64x | 1.14x | 1.13x |
| Cash flow & dividends | |||||
| Operating Cash Flow | 368 | -1,381 | 4,980 | 1,631 | 3,966 |
| Free Cash Flow (OCF − Capex proxy) | -717 | -1,073 | 3,025 | -610 | 2,871 |
| Cash Conversion (OCF / EBITDA) | 23.1% | -110.0% | 171.0% | N/A | 349.2% |
| Dividends Declared | N/A | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | N/A | 0.0% | 0.0% | N/A | 0.0% |
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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