Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	99.3%	100.0%	30.0%	34.0%	25.0%	26.8%	30.5%
EBITDA Margin	33.9%	41.3%	26.4%	28.7%	21.0%	22.6%	25.4%
EBITDAR	3,932	5,698	3,076	2,985	2,857	2,907	4,158
EBITDAR Margin	33.9%	41.3%	26.4%	28.7%	21.0%	22.6%	25.4%
EBIT Margin	33.1%	40.0%	25.9%	28.2%	19.6%	21.3%	25.3%
Net Profit Margin	4.6%	5.3%	25.6%	26.1%	18.7%	19.1%	24.5%
Operating Expense % of Sales	65.4%	58.7%	3.6%	5.3%	4.0%	4.3%	5.2%
Returns
Return on Assets (ROA)	21.8%	22.9%	102.9%	89.5%	79.7%	80.1%	92.6%
Return on Equity (ROE)	62.1%	32.1%	177.4%	474.2%	446.2%	267.7%	365.2%
ROIC [EBIT / Invested Capital]	397.3%	273.0%	169.7%	182.2%	202.4%	142.5%	201.9%
Leverage & liquidity
Debt-to-Assets	17.8%	5.5%	10.3%	49.7%	39.7%	43.6%	34.2%
Debt-to-Equity	0.51x	0.08x	0.18x	2.63x	2.22x	1.46x	1.35x
Debt-to-EBITDA	0.11x	0.03x	0.10x	0.50x	0.44x	0.46x	0.36x
Equity-to-Assets	35.2%	71.4%	58.0%	18.9%	17.9%	29.9%	25.4%
Net Debt	101	-250	96	1,035	749	1,009	952
Cash & Equivalents	337	425	204	472	520	334	530
Total Debt	438	175	300	1,507	1,270	1,343	1,482
Efficiency & working capital
Inventory Turnover	-0.02x	0.03x	35.71x	19.36x	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	-15702.3	13788.8	10.2	18.9	N/A	N/A	N/A
Receivables Turnover	10.44x	7.78x	7.29x	6.88x	10.12x	10.24x	8.54x
Days Sales Outstanding (DSO)	35.0	46.9	50.1	53.0	36.1	35.7	42.7
Payables Turnover	0.07x	0.00x	8.89x	7.21x	7.53x	11.61x	6.50x
Days Payable Outstanding (DPO)	5067.4	89249.7	41.0	50.6	48.5	31.4	56.2
Cash Conversion Cycle	-20734.7 days	-75414.0 days	19.3 days	21.3 days	-12.4 days	4.2 days	-13.5 days
Asset Turnover	4.71x	4.33x	4.02x	3.43x	4.26x	4.19x	3.78x
Cash flow & dividends
Operating Cash Flow	282	88	-221	268	48	-186	196
Free Cash Flow (OCF − Capex proxy)	282	88	-221	268	48	-186	196
Cash Conversion (OCF / EBITDA)	7.2%	1.5%	-7.2%	9.0%	1.7%	-6.4%	4.7%
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