Ratio	2022	2023	2024
Margins
Gross Margin	10.3%	17.3%	15.2%
EBITDA Margin	2.4%	9.8%	0.6%
EBITDAR	159	1,080	70
EBITDAR Margin	2.4%	9.9%	0.7%
EBIT Margin	2.3%	9.6%	0.4%
Net Profit Margin	0.5%	7.5%	-1.0%
Operating Expense % of Sales	7.9%	7.5%	14.7%
Returns
Return on Assets (ROA)	1.5%	39.3%	-3.6%
Return on Equity (ROE)	36.6%	90.6%	-12.0%
ROIC [EBIT / Invested Capital]	8.4%	60.6%	1.9%
Leverage & liquidity
Debt-to-Assets	84.2%	44.9%	50.1%
Debt-to-Equity	20.47x	1.04x	1.67x
Debt-to-EBITDA	11.19x	0.88x	23.34x
Equity-to-Assets	4.1%	43.4%	30.0%
Net Debt	1,727	831	1,335
Cash & Equivalents	12	104	13
Total Debt	1,738	935	1,348
Efficiency & working capital
Inventory Turnover	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	N/A	N/A
Receivables Turnover	11.86x	27.38x	20.30x
Days Sales Outstanding (DSO)	30.8	13.3	18.0
Payables Turnover	25.49x	51.64x	16.36x
Days Payable Outstanding (DPO)	14.3	7.1	22.3
Cash Conversion Cycle	16.5 days	6.3 days	-4.3 days
Asset Turnover	3.17x	5.26x	3.75x
Cash flow & dividends
Operating Cash Flow	N/A	N/A	N/A
Free Cash Flow (OCF − Capex proxy)	N/A	N/A	N/A
Cash Conversion (OCF / EBITDA)	N/A	N/A	N/A
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