Ratio	2022	2023	2024
Margins
Gross Margin	18.9%	15.3%	17.6%
EBITDA Margin	9.8%	6.0%	3.6%
EBITDAR	1,263	901	488
EBITDAR Margin	10.4%	6.6%	3.9%
EBIT Margin	9.1%	5.8%	3.3%
Net Profit Margin	7.3%	5.2%	1.9%
Operating Expense % of Sales	9.1%	9.3%	14.0%
Returns
Return on Assets (ROA)	33.9%	15.5%	4.3%
Return on Equity (ROE)	66.4%	46.9%	21.3%
ROIC [EBIT / Invested Capital]	52.1%	23.2%	10.6%
Leverage & liquidity
Debt-to-Assets	36.5%	49.8%	51.8%
Debt-to-Equity	0.71x	1.51x	2.55x
Debt-to-EBITDA	0.80x	2.76x	6.45x
Equity-to-Assets	51.1%	33.0%	20.3%
Net Debt	789	1,923	2,742
Cash & Equivalents	160	366	132
Total Debt	949	2,289	2,874
Efficiency & working capital
Inventory Turnover	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	N/A	N/A
Receivables Turnover	64.30x	27.43x	18.89x
Days Sales Outstanding (DSO)	5.7	13.3	19.3
Payables Turnover	70.78x	27.25x	18.16x
Days Payable Outstanding (DPO)	5.2	13.4	20.1
Cash Conversion Cycle	0.5 days	-0.1 days	-0.8 days
Asset Turnover	4.67x	2.99x	2.24x
Cash flow & dividends
Operating Cash Flow	1,541	857	-176
Free Cash Flow (OCF − Capex proxy)	253	-447	-589
Cash Conversion (OCF / EBITDA)	129.8%	103.5%	-39.5%
Dividends Declared	N/A	N/A	N/A
Dividend Payout Ratio	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