Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	12.4%	18.5%	17.6%	18.0%	18.3%	19.8%	30.6%
EBITDA Margin	2.1%	12.5%	9.6%	10.8%	10.4%	9.3%	10.7%
EBITDAR	43	497	423	488	564	580	970
EBITDAR Margin	2.1%	12.5%	10.6%	11.3%	11.1%	10.4%	13.4%
EBIT Margin	1.1%	11.7%	8.8%	10.2%	9.3%	8.1%	9.4%
Net Profit Margin	1.1%	11.7%	8.8%	10.2%	9.3%	8.1%	9.4%
Operating Expense % of Sales	10.3%	6.0%	8.0%	7.2%	7.9%	10.6%	19.9%
Returns
Return on Assets (ROA)	6.9%	57.0%	31.8%	28.7%	31.5%	27.2%	27.5%
Return on Equity (ROE)	7.1%	60.4%	32.4%	28.9%	34.9%	30.2%	31.2%
ROIC [EBIT / Invested Capital]	9.0%	116.2%	74.0%	68.8%	39.3%	31.6%	37.4%
Leverage & liquidity
Debt-to-Assets	0.0%	0.0%	0.0%	0.2%	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	0.01x	0.00x	0.00x	0.00x
Equity-to-Assets	96.9%	94.3%	98.3%	99.2%	90.2%	90.1%	88.2%
Net Debt	-65	-371	-609	-882	-152	-66	-360
Cash & Equivalents	65	371	609	886	152	66	360
Total Debt	N/A	N/A	N/A	4	N/A	N/A	N/A
Efficiency & working capital
Inventory Turnover	N/A	10.78x	9.74x	6.70x	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	33.9	37.5	54.5	N/A	N/A	N/A
Receivables Turnover	N/A	N/A	241.05x	N/A	55.44x	30.02x	14.80x
Days Sales Outstanding (DSO)	N/A	N/A	1.5	N/A	6.6	12.2	24.7
Payables Turnover	N/A	69.13x	329.73x	N/A	54.61x	36.39x	23.38x
Days Payable Outstanding (DPO)	N/A	5.3	1.1	N/A	6.7	10.0	15.6
Cash Conversion Cycle	N/A	28.6 days	37.9 days	54.5 days	-0.1 days	2.1 days	9.1 days
Asset Turnover	6.40x	4.86x	3.63x	2.81x	3.40x	3.37x	2.93x
Cash flow & dividends
Operating Cash Flow	64	336	325	285	8,569	10,218	294
Free Cash Flow (OCF − Capex proxy)	-1	306	269	277	-734	-86	294
Cash Conversion (OCF / EBITDA)	149.7%	67.5%	84.8%	61.3%	1614.5%	1971.5%	37.9%
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