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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Operates in Alcoholic Beverages — Production - Spirits. Per the activity note to the FY2024 annual report, the company produces alcoholic spirits and liqueurs.
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross Margin | 25.8% | 23.4% | 48.7% | 41.2% | 11.5% | 22.7% | 26.1% |
| EBITDA Margin | -7.6% | 8.5% | -214.1% | -87.9% | -16.3% | -25.7% | -19.3% |
| EBITDAR | -99 | 236 | -1,171 | -873 | -227 | -988 | -938 |
| EBITDAR Margin | -4.8% | 11.0% | -204.9% | -83.0% | -13.3% | -24.4% | -18.2% |
| EBIT Margin | -19.0% | 0.5% | -270.7% | -102.1% | -16.3% | -29.9% | -26.6% |
| Net Profit Margin | -7.2% | -6.6% | -215.6% | -81.7% | -30.1% | -25.2% | -18.2% |
| Operating Expense % of Sales | 33.3% | 14.9% | 262.9% | 129.1% | 27.8% | 48.4% | 45.4% |
| Returns | |||||||
| Return on Assets (ROA) | -1.7% | -1.4% | -11.7% | -7.2% | -4.0% | -6.9% | -7.0% |
| Return on Equity (ROE) | N/A | N/A | N/A | N/A | N/A | N/A | -25.4% |
| ROIC [EBIT / Invested Capital] | -7.3% | 0.2% | -25.8% | -16.1% | -3.6% | -16.4% | -21.6% |
| Leverage & debt balances | |||||||
| Debt-to-Assets | 106.1% | 104.4% | 110.6% | 109.6% | 114.3% | 112.9% | 20.2% |
| Debt-to-Equity | -2.30x | -2.47x | -2.10x | -2.04x | -2.10x | -2.09x | 0.73x |
| Debt-to-EBITDA | N/A | 58.79x | N/A | N/A | N/A | N/A | N/A |
| Equity-to-Assets | -46.1% | -42.3% | -52.8% | -53.8% | -54.3% | -53.9% | 27.6% |
| Net Debt | 9,427 | 10,704 | 11,575 | 13,082 | 14,596 | 15,341 | 2,660 |
| Cash & Equivalents | 4 | 0 | 102 | 10 | 3 | 1,334 | 39 |
| Total Debt | 9,431 | 10,704 | 11,677 | 13,092 | 14,600 | 16,675 | 2,699 |
| Liquidity & working capital | |||||||
| Current Ratio | 2.02x | 1.98x | 1.69x | 22.10x | 1.68x | 53.65x | 52.44x |
| Quick Ratio | 2.02x | 0.23x | 0.09x | 1.12x | 1.68x | 53.65x | 52.44x |
| Cash Ratio | 0.00x | 0.00x | 0.02x | 0.03x | 0.00x | 7.54x | 0.26x |
| Total Current Assets | 7,178 | 7,712 | 7,543 | 7,874 | 8,586 | 9,487 | 7,727 |
| Total Current Liabilities | 3,557 | 3,885 | 4,450 | 356 | 5,120 | 177 | 147 |
| Inventory | N/A | 6,802 | 7,160 | 7,474 | N/A | N/A | N/A |
| Trade Receivables | 244 | 738 | 213 | 219 | 1,560 | 221 | 208 |
| Trade Payables | 814 | 189 | 241 | 353 | 190 | 177 | 102 |
| Net Working Capital | 3,621 | 3,827 | 3,093 | 7,518 | 3,466 | 9,311 | 7,579 |
| Net Working Capital % of Revenue | 175.4% | 178.9% | 541.4% | 715.4% | 203.0% | 230.1% | 147.0% |
| Trade Working Capital | -570 | 7,351 | 7,132 | 7,341 | 1,370 | 44 | 106 |
| Trade Working Capital % of Revenue | -27.6% | 343.6% | 1248.6% | 698.6% | 80.3% | 1.1% | 2.0% |
| Change in Trade Working Capital | N/A | 7,921 | -218 | 209 | -5,971 | -1,326 | 62 |
| Turnover & efficiency | |||||||
| Inventory Turnover | N/A | 0.24x | 0.04x | 0.08x | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | 1515.7 | 8926.5 | 4414.3 | N/A | N/A | N/A |
| Receivables Turnover | 8.46x | 2.90x | 2.68x | 4.79x | 1.09x | 18.33x | 24.81x |
| Days Sales Outstanding (DSO) | 43.1 | 125.9 | 136.3 | 76.2 | 333.5 | 19.9 | 14.7 |
| Payables Turnover | 1.88x | 8.67x | 1.21x | 1.75x | 7.97x | 17.69x | 37.26x |
| Days Payable Outstanding (DPO) | 193.8 | 42.1 | 300.9 | 208.2 | 45.8 | 20.6 | 9.8 |
| Cash Conversion Cycle | -150.7 days | 1599.5 days | 8761.9 days | 4282.3 days | 287.7 days | -0.7 days | 4.9 days |
| Asset Turnover | 0.23x | 0.21x | 0.05x | 0.09x | 0.13x | 0.27x | 0.39x |
| Cash flow & dividends | |||||||
| Operating Cash Flow | -1,297 | -286 | 179 | -400 | -1,155 | 1,337 | 859 |
| Free Cash Flow (OCF − Capex proxy) | -1,872 | -1,284 | -616 | -1,608 | -1,506 | -735 | 407 |
| Cash Conversion (OCF / EBITDA) | N/A | -157.0% | N/A | N/A | N/A | N/A | N/A |
| 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 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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