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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 5,960 · FY2023 10,242 · FY2024 12,842 — 3-yr total 29,044
GDI LLC (ჯიდიაი) — the long-term distributor of Philip Morris tobacco products in Georgia (founded 8 July 2016, Tbilisi; Giorgi Mdivani St. 3a). It runs seven rented regional warehouses supplying supermarkets, small grocery stores and hypermarkets nationwide, and since 2020 also sells heated-tobacco products together with the related devices and accessories. Averaged 301 employees in 2024 (284 in 2023) and is a Category 1 reporting company under Georgian law. As of 31 December 2024 it was owned by Vioneo Holding (31.70%), Alpfordio Services (30.69%), Corinaria Management (20.00%) and Arevako Investment Limited (17.61%).
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross Margin | 5.9% | 4.6% | 4.9% | 4.3% | 4.6% | 4.6% | 4.5% | 4.8% |
| EBITDA Margin | 5.5% | 2.8% | 2.9% | 2.2% | 2.5% | 2.3% | 2.2% | 2.4% |
| EBITDAR | 20,954 | 12,208 | 12,816 | 11,481 | 15,354 | 14,449 | 17,572 | 20,975 |
| EBITDAR Margin | 5.6% | 2.9% | 2.9% | 2.3% | 2.5% | 2.4% | 2.3% | 2.5% |
| EBIT Margin | 5.4% | 2.7% | 2.8% | 2.1% | 2.3% | 2.1% | 2.0% | 2.3% |
| Net Profit Margin | 3.1% | 2.2% | 2.6% | 1.5% | 1.9% | 1.7% | 1.6% | 1.8% |
| Operating Expense % of Sales | 0.4% | 1.8% | 2.0% | 2.1% | 2.1% | 2.3% | 2.2% | 2.4% |
| Returns | ||||||||
| Return on Assets (ROA) | 35.8% | 35.4% | 47.9% | 19.0% | 28.8% | 20.4% | 22.7% | 29.0% |
| Return on Equity (ROE) | 646.2% | 566.6% | 493.4% | 756.8% | 216.7% | 104.6% | 100.8% | 98.9% |
| ROIC [EBIT / Invested Capital] | 1273.3% | 832.4% | 390.9% | 94.4% | 84.5% | 72.6% | 112.5% | 120.5% |
| Leverage & debt balances | ||||||||
| Debt-to-Assets | 24.9% | 0.4% | 16.8% | 44.3% | 33.4% | 29.2% | 20.5% | 1.9% |
| Debt-to-Equity | 4.49x | 0.06x | 1.73x | 17.60x | 2.52x | 1.50x | 0.91x | 0.06x |
| Debt-to-EBITDA | 0.40x | 0.01x | 0.31x | 1.60x | 0.91x | 1.07x | 0.67x | 0.05x |
| Equity-to-Assets | 5.5% | 6.3% | 9.7% | 2.5% | 13.3% | 19.5% | 22.5% | 29.3% |
| Net Debt | -224 | -258 | 825 | 10,265 | 11,194 | 7,728 | 1,395 | 215 |
| Cash & Equivalents | 8,421 | 357 | 3,183 | 7,842 | 2,617 | 7,446 | 9,917 | 778 |
| Total Debt | 8,197 | 99 | 4,008 | 18,107 | 13,811 | 15,174 | 11,312 | 993 |
| Liquidity & working capital | ||||||||
| Current Ratio | 0.97x | 1.02x | 1.07x | 0.97x | 1.06x | 1.17x | 1.23x | 1.34x |
| Quick Ratio | 0.32x | 0.26x | 0.28x | 0.38x | 0.29x | 0.43x | 0.56x | 0.76x |
| Cash Ratio | 0.27x | 0.01x | 0.15x | 0.20x | 0.08x | 0.18x | 0.23x | 0.02x |
| Total Current Assets | 30,067 | 25,476 | 22,594 | 37,225 | 35,874 | 47,659 | 51,837 | 49,006 |
| Total Current Liabilities | 30,885 | 24,868 | 21,124 | 38,270 | 33,882 | 40,715 | 42,258 | 36,595 |
| Inventory | 20,205 | 19,076 | 16,611 | 22,855 | 26,109 | 30,023 | 27,968 | 21,148 |
| Trade Receivables | 1,323 | 1,562 | 2,643 | 4,123 | 6,356 | 9,580 | 13,606 | 13,706 |
| Trade Payables | 21,280 | 23,083 | 17,533 | 21,680 | 21,946 | 26,540 | 30,985 | 34,685 |
| Net Working Capital | -818 | 608 | 1,470 | -1,045 | 1,992 | 6,944 | 9,579 | 12,411 |
| Net Working Capital % of Revenue | -0.2% | 0.1% | 0.3% | -0.2% | 0.3% | 1.1% | 1.3% | 1.5% |
| Trade Working Capital | 248 | -2,445 | 1,721 | 5,298 | 10,519 | 13,063 | 10,589 | 169 |
| Trade Working Capital % of Revenue | 0.1% | -0.6% | 0.4% | 1.0% | 1.7% | 2.1% | 1.4% | 0.0% |
| Change in Trade Working Capital | N/A | -2,693 | 4,166 | 3,577 | 5,221 | 2,544 | -2,474 | -10,420 |
| Turnover & efficiency | ||||||||
| Inventory Turnover | 17.49x | 21.34x | 25.27x | 21.27x | 22.61x | 19.41x | 26.03x | 37.42x |
| Days Inventory Outstanding (DIO) | 20.9 | 17.1 | 14.4 | 17.2 | 16.1 | 18.8 | 14.0 | 9.8 |
| Receivables Turnover | 283.80x | 273.24x | 166.92x | 123.23x | 97.30x | 63.78x | 56.00x | 60.65x |
| Days Sales Outstanding (DSO) | 1.3 | 1.3 | 2.2 | 3.0 | 3.8 | 5.7 | 6.5 | 6.0 |
| Payables Turnover | 16.60x | 17.64x | 23.94x | 22.42x | 26.89x | 21.96x | 23.49x | 22.81x |
| Days Payable Outstanding (DPO) | 22.0 | 20.7 | 15.2 | 16.3 | 13.6 | 16.6 | 15.5 | 16.0 |
| Cash Conversion Cycle | 0.2 days | -2.3 days | 1.4 days | 3.8 days | 6.3 days | 7.9 days | 5.0 days | -0.2 days |
| Asset Turnover | 11.39x | 16.09x | 18.49x | 12.42x | 14.96x | 11.76x | 13.81x | 15.74x |
| Cash flow & dividends | ||||||||
| Operating Cash Flow | 11,420 | 12,560 | 7,605 | 4,993 | 7,602 | 8,887 | 16,988 | 27,728 |
| Free Cash Flow (OCF − Capex proxy) | 11,420 | 9,639 | 3,659 | 2,246 | 7,834 | 9,436 | 16,649 | 13,957 |
| Cash Conversion (OCF / EBITDA) | 55.3% | 104.9% | 59.8% | 44.2% | 49.9% | 62.5% | 99.9% | 139.6% |
| Dividends Declared | 13,521 | 9,561 | 3,931 | 9,917 | 7,435 | 5,960 | 10,242 | 12,842 |
| Dividend Payout Ratio | 114.6% | 101.8% | 34.4% | 127.4% | 62.5% | 56.2% | 81.8% | 83.9% |
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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