Ratio	2022	2023	2024
Margins
Gross Margin	32.2%	31.6%	27.4%
EBITDA Margin	13.1%	9.3%	6.5%
EBITDAR	407	417	551
EBITDAR Margin	14.8%	10.7%	7.8%
EBIT Margin	12.4%	8.8%	6.0%
Net Profit Margin	13.6%	5.5%	3.6%
Operating Expense % of Sales	19.1%	22.3%	20.9%
Returns
Return on Assets (ROA)	33.7%	14.6%	11.0%
Return on Equity (ROE)	76.3%	68.0%	68.4%
ROIC [EBIT / Invested Capital]	53.1%	57.6%	58.6%
Leverage & liquidity
Debt-to-Assets	35.0%	31.6%	16.0%
Debt-to-Equity	0.79x	1.47x	0.99x
Debt-to-EBITDA	1.08x	1.28x	0.81x
Equity-to-Assets	44.1%	21.5%	16.2%
Net Debt	149	277	343
Cash & Equivalents	240	186	26
Total Debt	389	463	369
Efficiency & working capital
Inventory Turnover	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	N/A	N/A
Receivables Turnover	9.30x	8.13x	5.62x
Days Sales Outstanding (DSO)	39.2	44.9	65.0
Payables Turnover	10.85x	4.63x	3.48x
Days Payable Outstanding (DPO)	33.7	78.9	104.8
Cash Conversion Cycle	5.6 days	-34.0 days	-39.8 days
Asset Turnover	2.47x	2.65x	3.04x
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