Ratio	2022	2023	2024
Margins
Gross Margin	1.0%	3.5%	4.7%
EBITDA Margin	0.3%	0.4%	0.7%
EBITDAR	40	37	60
EBITDAR Margin	0.3%	0.4%	0.7%
EBIT Margin	0.3%	0.4%	0.7%
Net Profit Margin	0.3%	0.4%	0.7%
Operating Expense % of Sales	0.7%	3.1%	4.0%
Returns
Return on Assets (ROA)	2.3%	2.2%	3.4%
Return on Equity (ROE)	26.0%	19.5%	22.2%
ROIC [EBIT / Invested Capital]	2.4%	2.3%	3.4%
Leverage & debt balances
Debt-to-Assets	88.2%	88.6%	84.7%
Debt-to-Equity	9.78x	7.87x	5.53x
Debt-to-EBITDA	37.58x	40.28x	24.95x
Equity-to-Assets	9.0%	11.3%	15.3%
Net Debt	1,471	1,435	1,487
Cash & Equivalents	29	65	13
Total Debt	1,500	1,500	1,500
Liquidity & working capital
Current Ratio	1.13x	1.13x	1.18x
Quick Ratio	1.13x	1.13x	1.18x
Cash Ratio	0.02x	0.04x	0.01x
Total Current Assets	1,699	1,692	1,771
Total Current Liabilities	1,500	1,500	1,500
Inventory	N/A	N/A	N/A
Trade Receivables	1,457	1,385	1,584
Trade Payables	43	N/A	N/A
Net Working Capital	199	192	271
Net Working Capital % of Revenue	1.3%	2.0%	3.3%
Trade Working Capital	1,413	1,385	1,584
Trade Working Capital % of Revenue	9.0%	14.7%	19.2%
Change in Trade Working Capital	N/A	-29	200
Turnover & efficiency
Inventory Turnover	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	N/A	N/A
Receivables Turnover	10.77x	6.82x	5.21x
Days Sales Outstanding (DSO)	33.9	53.5	70.0
Payables Turnover	357.18x	N/A	N/A
Days Payable Outstanding (DPO)	1.0	N/A	N/A
Cash Conversion Cycle	32.9 days	53.5 days	70.0 days
Asset Turnover	9.23x	5.58x	4.66x
Cash flow & dividends
Operating Cash Flow	-1,442	282	213
Free Cash Flow (OCF − Capex proxy)	-1,442	282	213
Cash Conversion (OCF / EBITDA)	-3612.3%	758.5%	354.2%
Dividends Declared	N/A	N/A	N/A
Dividend Payout Ratio	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