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Operates in Agriculture — Production - Crops. Per the activity note to the FY2023 annual report, the company primarily processes and exports hazelnuts. 70% owned by Lasha Shengelia and 30% by Merab Chitanava.
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross Margin | 13.0% | 6.8% | 12.9% | 14.6% | 18.1% |
| EBITDA Margin | -3.3% | 2.9% | 7.7% | 8.9% | 10.6% |
| EBITDAR | -45 | 296 | 365 | 687 | 789 |
| EBITDAR Margin | -3.1% | 2.9% | 7.7% | 8.9% | 10.6% |
| EBIT Margin | -7.3% | 2.3% | 6.6% | 6.3% | 9.2% |
| Net Profit Margin | -3.3% | 2.9% | 2.2% | 2.8% | 2.2% |
| Operating Expense % of Sales | 16.3% | 3.9% | 5.2% | 5.7% | 7.5% |
| Returns | |||||
| Return on Assets (ROA) | -3.2% | 9.2% | 2.1% | 4.5% | 2.6% |
| Return on Equity (ROE) | -36.7% | 69.1% | 17.9% | 29.1% | 18.0% |
| ROIC [EBIT / Invested Capital] | -9.6% | 18.5% | 13.6% | 13.6% | 15.6% |
| Leverage & debt balances | |||||
| Debt-to-Assets | 71.8% | 44.7% | 65.4% | 79.5% | 57.7% |
| Debt-to-Equity | 8.22x | 3.34x | 5.55x | 5.14x | 4.02x |
| Debt-to-EBITDA | N/A | 4.83x | 8.83x | 5.62x | 4.66x |
| Equity-to-Assets | 8.7% | 13.4% | 11.8% | 15.5% | 14.4% |
| Net Debt | 997 | 809 | 1,697 | 2,785 | 3,490 |
| Cash & Equivalents | 88 | 622 | 1,529 | 1,072 | 189 |
| Total Debt | 1,086 | 1,430 | 3,226 | 3,857 | 3,679 |
| Liquidity & working capital | |||||
| Current Ratio | 0.16x | 2.19x | 3.14x | 14.12x | 1.32x |
| Quick Ratio | 0.16x | 1.84x | 2.16x | 6.68x | 1.32x |
| Cash Ratio | 0.30x | 0.49x | 1.36x | 4.37x | 0.11x |
| Total Current Assets | 46 | 2,792 | 3,539 | 3,467 | 2,345 |
| Total Current Liabilities | 295 | 1,274 | 1,127 | 246 | 1,778 |
| Inventory | N/A | 450 | 1,100 | 1,825 | N/A |
| Trade Receivables | 392 | 1,644 | 325 | 569 | 2,128 |
| Trade Payables | 284 | 1,263 | 1,127 | 246 | 1,778 |
| Net Working Capital | -249 | 1,518 | 2,412 | 3,221 | 567 |
| Net Working Capital % of Revenue | -16.9% | 15.0% | 50.9% | 42.0% | 7.6% |
| Trade Working Capital | 107 | 831 | 297 | 2,149 | 350 |
| Trade Working Capital % of Revenue | 7.3% | 8.2% | 6.3% | 28.0% | 4.7% |
| Change in Trade Working Capital | N/A | 724 | -534 | 1,851 | -1,799 |
| Turnover & efficiency | |||||
| Inventory Turnover | N/A | 20.95x | 3.75x | 3.59x | N/A |
| Days Inventory Outstanding (DIO) | N/A | 17.4 | 97.3 | 101.7 | N/A |
| Receivables Turnover | 3.76x | 6.15x | 14.59x | 13.48x | 3.50x |
| Days Sales Outstanding (DSO) | 97.0 | 59.3 | 25.0 | 27.1 | 104.2 |
| Payables Turnover | 4.51x | 7.46x | 3.66x | 26.67x | 3.43x |
| Days Payable Outstanding (DPO) | 80.9 | 48.9 | 99.7 | 13.7 | 106.4 |
| Cash Conversion Cycle | 16.1 days | 27.9 days | 22.6 days | 115.1 days | -2.1 days |
| Asset Turnover | 0.97x | 3.16x | 0.96x | 1.58x | 1.17x |
| Cash flow & dividends | |||||
| Operating Cash Flow | -466 | 533 | 907 | -457 | -883 |
| Free Cash Flow (OCF − Capex proxy) | -466 | 533 | 907 | -457 | -883 |
| Cash Conversion (OCF / EBITDA) | N/A | 180.3% | 248.4% | -66.5% | -112.0% |
| 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 GEL, thousands. Margins, returns and payout are percentages; turnover and leverage are multiples; DIO/DSO/DPO are days. Hover a metric name for its definition.
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.
Ownership & directors from companyinfo.ge (public corporate registry).
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