Ratio	2017	2018	2019	2020	2021
Margins
Gross Margin	23.3%	21.5%	16.4%	34.1%	36.6%
EBITDA Margin	15.3%	11.7%	5.5%	12.7%	5.4%
EBITDAR	721	541	374	371	65
EBITDAR Margin	16.8%	13.3%	6.7%	14.0%	6.5%
EBIT Margin	14.9%	10.8%	4.8%	10.3%	0.1%
Net Profit Margin	15.3%	11.6%	4.8%	12.9%	5.4%
Operating Expense % of Sales	8.0%	9.9%	10.9%	21.4%	31.2%
Returns
Return on Assets (ROA)	45.2%	26.8%	13.3%	17.9%	3.1%
Return on Equity (ROE)	78.9%	99.2%	99.6%	115.2%	15.8%
ROIC [EBIT / Invested Capital]	77.8%	93.1%	N/A	95.0%	0.4%
Leverage & liquidity
Debt-to-Assets	0.0%	0.0%	0.0%	0.0%	0.0%
Debt-to-Equity	0.00x	0.00x	0.00x	0.00x	0.00x
Debt-to-EBITDA	0.00x	0.00x	0.00x	0.00x	0.00x
Equity-to-Assets	57.4%	27.0%	13.4%	15.5%	19.6%
Net Debt	-12	-4	-376	-10	-0
Cash & Equivalents	12	4	376	10	0
Total Debt	N/A	N/A	N/A	N/A	N/A
Efficiency & working capital
Inventory Turnover	N/A	N/A	55.06x	9.96x	3.78x
Days Inventory Outstanding (DIO)	N/A	N/A	6.6	36.6	96.4
Receivables Turnover	4.25x	3.21x	4.69x	2.15x	0.88x
Days Sales Outstanding (DSO)	86.0	113.6	77.8	169.9	416.1
Payables Turnover	26.10x	42.88x	45.92x	5.66x	6.14x
Days Payable Outstanding (DPO)	14.0	8.5	7.9	64.5	59.5
Cash Conversion Cycle	72.0 days	105.1 days	76.5 days	142.0 days	453.1 days
Asset Turnover	2.96x	2.30x	2.76x	1.38x	0.57x
Cash flow & dividends
Operating Cash Flow	-8	-8	372	-366	-10
Free Cash Flow (OCF − Capex proxy)	-8	-8	372	-366	-10
Cash Conversion (OCF / EBITDA)	-1.2%	-1.6%	121.3%	-108.4%	-18.5%
Dividends Declared	N/A	N/A	N/A	N/A	N/A
Dividend Payout Ratio	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 ₾ '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