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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 0 · FY2023 0 · FY2024 0
Georgian operation of HAVI, a global logistics provider specializing in supply-chain services for the foodservice industry (notably McDonald's and other QSR chains).
| Ratio | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross Margin | N/A | 7.5% | 8.1% | 6.7% | 1.7% | 4.7% |
| EBITDA Margin | N/A | 3.3% | 3.7% | 2.4% | -1.6% | 0.8% |
| EBITDAR | -2 | 2,368 | 2,543 | 2,164 | -1,090 | 2,299 |
| EBITDAR Margin | N/A | 5.3% | 3.9% | 2.5% | -1.1% | 1.9% |
| EBIT Margin | N/A | 2.9% | 3.4% | 2.1% | -1.8% | 0.4% |
| Net Profit Margin | N/A | -3.0% | 4.6% | 1.7% | -3.0% | 0.3% |
| Operating Expense % of Sales | N/A | 5.5% | 4.9% | 4.8% | 3.7% | 4.3% |
| Returns | ||||||
| Return on Assets (ROA) | -3.9% | -8.4% | 21.4% | 8.2% | -23.4% | 2.8% |
| Return on Equity (ROE) | -3.9% | N/A | 137.7% | 41.1% | -487.2% | 37.7% |
| ROIC [EBIT / Invested Capital] | -2.8% | 31.9% | 62.5% | 30.6% | -111.8% | 229.5% |
| Leverage & debt balances | ||||||
| Debt-to-Assets | 0.0% | 31.0% | 33.7% | 24.6% | 9.4% | 0.0% |
| Debt-to-Equity | 0.00x | -6.22x | 2.17x | 1.23x | 1.95x | 0.00x |
| Debt-to-EBITDA | N/A | 3.46x | 1.93x | 2.22x | N/A | 0.00x |
| Equity-to-Assets | 99.8% | -5.0% | 15.5% | 20.1% | 4.8% | 7.5% |
| Net Debt | -489 | 4,877 | 1,403 | 2,130 | 1,055 | -770 |
| Cash & Equivalents | 489 | 173 | 3,265 | 2,363 | 161 | 770 |
| Total Debt | N/A | 5,050 | 4,667 | 4,493 | 1,216 | N/A |
| Liquidity & working capital | ||||||
| Current Ratio | 521.58x | 0.95x | 1.18x | 1.25x | 0.98x | 1.02x |
| Quick Ratio | 521.58x | 0.76x | 0.74x | 0.69x | 0.37x | 0.21x |
| Cash Ratio | 467.20x | 0.01x | 0.28x | 0.16x | 0.01x | 0.06x |
| Total Current Assets | 546 | 16,277 | 13,864 | 18,237 | 12,091 | 12,471 |
| Total Current Liabilities | 1 | 17,095 | 11,708 | 14,579 | 12,334 | 12,274 |
| Inventory | N/A | 3,201 | 5,148 | 8,139 | 7,494 | 9,844 |
| Trade Receivables | N/A | 12,033 | 3,367 | 6,588 | 4,368 | 1,847 |
| Trade Payables | 1 | 10,815 | 5,654 | 9,281 | 9,806 | 12,274 |
| Net Working Capital | 545 | -818 | 2,155 | 3,658 | -243 | 198 |
| Net Working Capital % of Revenue | N/A | -1.8% | 3.3% | 4.3% | -0.2% | 0.2% |
| Trade Working Capital | -1 | 4,418 | 2,861 | 5,446 | 2,056 | -582 |
| Trade Working Capital % of Revenue | N/A | 9.9% | 4.4% | 6.3% | 2.0% | -0.5% |
| Change in Trade Working Capital | N/A | 4,420 | -1,557 | 2,585 | -3,390 | -2,638 |
| Turnover & efficiency | ||||||
| Inventory Turnover | N/A | 12.95x | 11.63x | 9.85x | 13.33x | 11.49x |
| Days Inventory Outstanding (DIO) | N/A | 28.2 | 31.4 | 37.0 | 27.4 | 31.8 |
| Receivables Turnover | N/A | 3.72x | 19.35x | 13.05x | 23.25x | 64.28x |
| Days Sales Outstanding (DSO) | N/A | 98.0 | 18.9 | 28.0 | 15.7 | 5.7 |
| Payables Turnover | N/A | 3.83x | 10.59x | 8.64x | 10.18x | 9.22x |
| Days Payable Outstanding (DPO) | N/A | 95.2 | 34.5 | 42.2 | 35.8 | 39.6 |
| Cash Conversion Cycle | N/A | 31.0 days | 15.8 days | 22.8 days | 7.2 days | -2.2 days |
| Asset Turnover | 0.00x | 2.75x | 4.70x | 4.71x | 7.84x | 8.95x |
| Cash flow & dividends | ||||||
| Operating Cash Flow | -55 | -2,458 | 3,362 | -1,249 | 1,498 | 2,374 |
| Free Cash Flow (OCF − Capex proxy) | -57 | -3,034 | 2,443 | -1,303 | 1,279 | 2,172 |
| Cash Conversion (OCF / EBITDA) | N/A | -168.4% | 138.8% | -61.6% | N/A | 239.0% |
| Dividends Declared | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio | N/A | 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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