Ratio	2020	2021	2022	2023	2024
Margins
Gross Margin	52.6%	50.6%	42.5%	76.4%	41.5%
EBITDA Margin	25.5%	17.3%	14.0%	50.4%	9.9%
EBITDAR	1,028	498	682	1,210	554
EBITDAR Margin	25.5%	20.1%	15.8%	53.3%	13.0%
EBIT Margin	25.5%	17.0%	13.3%	49.3%	9.4%
Net Profit Margin	25.0%	15.5%	11.6%	46.1%	6.6%
Operating Expense % of Sales	27.1%	33.4%	28.5%	26.0%	31.6%
Returns
Return on Assets (ROA)	89.8%	32.2%	36.9%	55.1%	15.3%
Return on Equity (ROE)	109.4%	36.5%	44.4%	59.3%	20.6%
ROIC [EBIT / Invested Capital]	116.7%	40.6%	52.6%	63.6%	30.6%
Leverage & liquidity
Debt-to-Assets	0.0%	0.0%	0.0%	0.0%	0.0%
Debt-to-Equity	0.00x	0.00x	0.00x	0.00x	0.00x
Debt-to-EBITDA	0.00x	0.00x	0.00x	0.00x	0.00x
Equity-to-Assets	82.1%	88.4%	83.1%	92.9%	74.3%
Net Debt	-40	-8	-36	-5	-53
Cash & Equivalents	40	8	36	5	53
Total Debt	N/A	N/A	N/A	N/A	N/A
Efficiency & working capital
Inventory Turnover	4.42x	2.43x	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	82.6	150.1	N/A	N/A	N/A
Receivables Turnover	6.29x	4.58x	4.54x	3.77x	8.11x
Days Sales Outstanding (DSO)	58.0	79.8	80.4	96.8	45.0
Payables Turnover	21.72x	227.38x	151.17x	9.67x	7.52x
Days Payable Outstanding (DPO)	16.8	1.6	2.4	37.8	48.5
Cash Conversion Cycle	123.8 days	228.3 days	78.0 days	59.1 days	-3.5 days
Asset Turnover	3.59x	2.09x	3.19x	1.20x	2.32x
Cash flow & dividends
Operating Cash Flow	-210	-32	28	-32	49
Free Cash Flow (OCF − Capex proxy)	-210	-32	28	-32	49
Cash Conversion (OCF / EBITDA)	-20.4%	-7.6%	4.7%	-2.8%	11.5%
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