Ratio	2018	2019	2020	2021
Margins
Gross Margin	22.5%	22.3%	24.1%	22.5%
EBITDA Margin	18.1%	19.3%	19.3%	18.6%
EBITDAR	950	1,358	1,246	1,757
EBITDAR Margin	18.8%	20.6%	21.1%	19.9%
EBIT Margin	18.0%	19.3%	19.2%	18.6%
Net Profit Margin	18.0%	19.0%	17.1%	17.7%
Operating Expense % of Sales	4.4%	3.0%	4.9%	3.9%
Returns
Return on Assets (ROA)	43.3%	44.7%	33.1%	36.4%
Return on Equity (ROE)	48.8%	48.0%	34.9%	38.2%
ROIC [EBIT / Invested Capital]	51.7%	56.5%	45.3%	43.2%
Leverage & liquidity
Debt-to-Assets	0.0%	0.0%	0.0%	0.0%
Debt-to-Equity	0.00x	0.00x	0.00x	0.00x
Debt-to-EBITDA	0.00x	0.00x	0.00x	0.00x
Equity-to-Assets	88.8%	93.1%	94.9%	95.1%
Net Debt	-105	-361	-388	-308
Cash & Equivalents	105	361	388	308
Total Debt	N/A	N/A	N/A	N/A
Efficiency & working capital
Inventory Turnover	N/A	3.24x	2.65x	2.36x
Days Inventory Outstanding (DIO)	N/A	112.7	137.9	154.6
Receivables Turnover	7.69x	12.54x	7.26x	12.78x
Days Sales Outstanding (DSO)	47.5	29.1	50.3	28.6
Payables Turnover	17.30x	29.65x	35.30x	36.49x
Days Payable Outstanding (DPO)	21.1	12.3	10.3	10.0
Cash Conversion Cycle	26.4 days	129.5 days	177.8 days	173.2 days
Asset Turnover	2.40x	2.35x	1.93x	2.05x
Cash flow & dividends
Operating Cash Flow	-96	258	N/A	N/A
Free Cash Flow (OCF − Capex proxy)	-96	258	N/A	N/A
Cash Conversion (OCF / EBITDA)	-10.5%	20.3%	N/A	N/A
Dividends Declared	N/A	N/A	N/A	N/A
Dividend Payout Ratio	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