Ratio	2020	2021	2022	2023	2024
Margins
Gross Margin	9.9%	9.9%	11.3%	14.1%	10.1%
EBITDA Margin	8.3%	8.7%	10.0%	12.5%	8.3%
EBITDAR	698	1,004	1,128	1,593	1,097
EBITDAR Margin	8.3%	8.7%	10.0%	12.5%	8.3%
EBIT Margin	7.8%	8.3%	9.6%	12.1%	7.9%
Net Profit Margin	6.7%	7.7%	9.1%	12.1%	7.9%
Operating Expense % of Sales	1.6%	1.2%	1.3%	1.6%	1.8%
Returns
Return on Assets (ROA)	12.1%	24.0%	23.6%	26.1%	14.4%
Return on Equity (ROE)	23.8%	28.3%	26.4%	29.0%	16.8%
ROIC [EBIT / Invested Capital]	14.2%	26.4%	28.2%	30.0%	16.2%
Leverage & liquidity
Debt-to-Assets	48.9%	15.1%	2.9%	0.5%	10.4%
Debt-to-Equity	0.96x	0.18x	0.03x	0.01x	0.12x
Debt-to-EBITDA	3.27x	0.56x	0.11x	0.02x	0.69x
Equity-to-Assets	50.8%	84.6%	89.3%	90.1%	85.6%
Net Debt	2,252	490	-45	-172	248
Cash & Equivalents	29	73	170	199	506
Total Debt	2,281	563	125	28	754
Efficiency & working capital
Inventory Turnover	2.16x	4.10x	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	169.0	89.1	N/A	N/A	N/A
Receivables Turnover	85.67x	93.01x	104.97x	26.30x	11.75x
Days Sales Outstanding (DSO)	4.3	3.9	3.5	13.9	31.1
Payables Turnover	513.20x	885.18x	29.05x	19.63x	40.83x
Days Payable Outstanding (DPO)	0.7	0.4	12.6	18.6	8.9
Cash Conversion Cycle	172.6 days	92.6 days	-9.1 days	-4.7 days	22.1 days
Asset Turnover	1.80x	3.10x	2.58x	2.16x	1.83x
Cash flow & dividends
Operating Cash Flow	N/A	N/A	98	29	N/A
Free Cash Flow (OCF − Capex proxy)	N/A	N/A	98	29	N/A
Cash Conversion (OCF / EBITDA)	N/A	N/A	8.7%	1.8%	N/A
Dividends Declared	N/A	N/A	N/A	N/A	N/A
Dividend Payout Ratio	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