Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	34.6%	23.4%	25.2%	23.4%	22.7%	17.8%	25.2%
EBITDA Margin	31.9%	20.3%	22.8%	20.6%	19.3%	13.4%	18.3%
EBITDAR	694	641	909	1,025	862	522	739
EBITDAR Margin	33.3%	22.5%	24.1%	21.9%	20.7%	14.9%	20.9%
EBIT Margin	31.9%	20.3%	22.8%	20.6%	19.3%	13.4%	18.3%
Net Profit Margin	31.9%	20.3%	22.8%	20.6%	19.3%	13.1%	19.1%
Operating Expense % of Sales	2.7%	3.1%	2.4%	2.8%	3.5%	4.4%	7.0%
Returns
Return on Assets (ROA)	11.3%	9.1%	12.3%	12.4%	9.6%	5.5%	8.2%
Return on Equity (ROE)	12.3%	10.6%	14.2%	15.9%	11.7%	6.2%	8.4%
ROIC [EBIT / Invested Capital]	12.9%	10.8%	14.3%	16.9%	11.7%	6.5%	8.4%
Leverage & liquidity
Debt-to-Assets	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Debt-to-Equity	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
Debt-to-EBITDA	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
Equity-to-Assets	91.6%	85.9%	86.6%	77.9%	82.0%	88.4%	97.7%
Net Debt	-252	-83	-39	-351	-39	-164	-377
Cash & Equivalents	252	83	39	351	39	164	377
Total Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Efficiency & working capital
Inventory Turnover	N/A	0.40x	0.47x	0.56x	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	903.9	771.2	647.6	N/A	N/A	N/A
Receivables Turnover	4.08x	3.44x	3.86x	4.51x	3.95x	3.66x	3.35x
Days Sales Outstanding (DSO)	89.5	106.2	94.5	81.0	92.3	99.6	109.0
Payables Turnover	3.16x	2.58x	3.26x	2.09x	2.13x	2.99x	14.19x
Days Payable Outstanding (DPO)	115.4	141.4	111.8	174.4	171.6	122.2	25.7
Cash Conversion Cycle	-25.8 days	868.7 days	753.9 days	554.3 days	-79.3 days	-22.6 days	83.2 days
Asset Turnover	0.35x	0.45x	0.54x	0.60x	0.50x	0.42x	0.43x
Cash flow & dividends
Operating Cash Flow	147	-169	-45	312	-311	125	213
Free Cash Flow (OCF − Capex proxy)	147	-169	-45	312	-311	125	213
Cash Conversion (OCF / EBITDA)	22.1%	-29.2%	-5.2%	32.3%	-38.7%	26.6%	32.9%
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