Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	22.0%	28.2%	32.1%	21.3%	27.8%	39.2%	8.1%
EBITDA Margin	11.8%	12.4%	13.2%	-0.9%	3.9%	19.5%	-3.9%
EBITDAR	948	951	807	115	293	1,699	-94
EBITDAR Margin	16.7%	18.1%	19.4%	2.6%	7.8%	21.9%	-1.1%
EBIT Margin	11.6%	12.0%	12.6%	-1.5%	3.3%	16.4%	-7.4%
Net Profit Margin	11.2%	11.6%	9.6%	11.6%	30.6%	20.4%	-3.3%
Operating Expense % of Sales	10.1%	15.8%	18.9%	22.1%	23.9%	19.7%	12.0%
Returns
Return on Assets (ROA)	54.0%	40.6%	6.5%	6.5%	13.0%	19.0%	-3.5%
Return on Equity (ROE)	89.7%	92.8%	38.9%	33.4%	46.5%	37.8%	-6.9%
ROIC [EBIT / Invested Capital]	94.7%	132.4%	12.8%	-1.0%	1.6%	18.5%	-9.2%
Leverage & debt balances
Debt-to-Assets	8.8%	4.3%	51.1%	64.1%	63.4%	37.7%	35.5%
Debt-to-Equity	0.15x	0.10x	3.06x	3.30x	2.28x	0.75x	0.71x
Debt-to-EBITDA	0.15x	0.10x	5.68x	N/A	38.48x	2.07x	N/A
Equity-to-Assets	60.3%	43.7%	16.7%	19.4%	27.8%	50.3%	50.3%
Net Debt	-14	-180	3,075	4,712	5,138	2,675	2,664
Cash & Equivalents	117	245	60	371	475	470	109
Total Debt	104	64	3,135	5,083	5,614	3,145	2,773
Liquidity & working capital
Current Ratio	10.34x	21.91x	N/A	1.56x	2.75x	1.58x	1.19x
Quick Ratio	10.34x	7.52x	N/A	0.99x	2.75x	1.58x	1.19x
Cash Ratio	1.13x	3.80x	N/A	0.28x	0.61x	0.47x	0.10x
Total Current Assets	1,072	1,412	1,142	2,037	2,131	1,571	1,316
Total Current Liabilities	104	64	N/A	1,307	774	997	1,107
Inventory	N/A	928	886	746	N/A	N/A	N/A
Trade Receivables	177	235	172	255	N/A	265	168
Trade Payables	139	151	1,419	602	30	285	439
Net Working Capital	968	1,348	1,142	729	1,356	574	209
Net Working Capital % of Revenue	17.1%	25.7%	27.4%	16.5%	36.2%	7.4%	2.6%
Trade Working Capital	38	1,011	-361	398	-30	-20	-270
Trade Working Capital % of Revenue	0.7%	19.3%	-8.7%	9.0%	-0.8%	-0.3%	-3.3%
Change in Trade Working Capital	N/A	974	-1,372	760	-429	11	-251
Turnover & efficiency
Inventory Turnover	N/A	4.06x	3.19x	4.66x	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	90.0	114.3	78.4	N/A	N/A	N/A
Receivables Turnover	32.05x	22.30x	24.24x	17.29x	N/A	29.27x	48.61x
Days Sales Outstanding (DSO)	11.4	16.4	15.1	21.1	N/A	12.5	7.5
Payables Turnover	31.79x	24.85x	1.99x	5.77x	89.13x	16.58x	17.13x
Days Payable Outstanding (DPO)	11.5	14.7	183.1	63.3	4.1	22.0	21.3
Cash Conversion Cycle	-0.1 days	91.7 days	-53.7 days	36.2 days	-4.1 days	-9.6 days	-13.8 days
Asset Turnover	4.83x	3.49x	0.68x	0.56x	0.42x	0.93x	1.05x
Cash flow & dividends
Operating Cash Flow	6,770	6,142	-107	-1,473	-384	5,620	21
Free Cash Flow (OCF − Capex proxy)	127	135	-3,046	-1,974	-427	2,477	11
Cash Conversion (OCF / EBITDA)	1010.7%	943.2%	-19.4%	N/A	-263.0%	370.3%	N/A
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 ₾ '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

Shareholders

ბეჰზად გასემზადეჰ50.0%
რეზა ყასემზადე50.0%

ბეჰზად გასემზადეჰPartner / Shareholder50.0%რეზა ყასემზადეPartner / Shareholder50.0%

Key metrics

Revenue & margins

Financial statements

Ownership & group structure

Shareholders

Directors & board