Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	12.2%	14.9%	17.1%	19.8%	22.8%	22.6%	16.9%
EBITDA Margin	2.9%	2.9%	4.2%	5.1%	6.6%	5.1%	3.5%
EBITDAR	68	83	124	193	283	203	167
EBITDAR Margin	3.2%	3.2%	4.5%	5.5%	7.0%	5.5%	3.9%
EBIT Margin	2.6%	2.5%	3.8%	4.8%	6.3%	4.8%	3.2%
Net Profit Margin	2.5%	2.4%	4.2%	4.9%	6.3%	4.8%	3.3%
Operating Expense % of Sales	9.3%	12.0%	13.0%	14.8%	16.2%	17.5%	13.4%
Returns
Return on Assets (ROA)	23.6%	18.5%	26.0%	25.5%	27.8%	16.8%	9.0%
Return on Equity (ROE)	35.5%	29.0%	37.4%	34.7%	35.6%	19.5%	13.8%
ROIC [EBIT / Invested Capital]	44.8%	35.0%	44.0%	40.3%	47.2%	22.2%	17.4%
Leverage & liquidity
Debt-to-Assets	0.0%	0.0%	0.0%	0.0%	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	0.00x	0.00x	0.00x	0.00x
Equity-to-Assets	66.5%	63.6%	69.4%	73.6%	77.9%	86.1%	65.3%
Net Debt	-28	-33	-70	-83	-180	-117	-243
Cash & Equivalents	28	33	70	83	180	117	243
Total Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Efficiency & working capital
Inventory Turnover	N/A	68.48x	26.23x	19.06x	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	5.3	13.9	19.2	N/A	N/A	N/A
Receivables Turnover	16.42x	11.11x	10.65x	8.50x	7.68x	5.41x	3.67x
Days Sales Outstanding (DSO)	22.2	32.9	34.3	42.9	47.5	67.5	99.5
Payables Turnover	25.41x	18.72x	16.89x	16.17x	15.56x	21.01x	6.59x
Days Payable Outstanding (DPO)	14.4	19.5	21.6	22.6	23.5	17.4	55.4
Cash Conversion Cycle	7.9 days	18.7 days	26.6 days	39.5 days	24.1 days	50.1 days	44.1 days
Asset Turnover	9.33x	7.68x	6.21x	5.19x	4.38x	3.50x	2.70x
Cash flow & dividends
Operating Cash Flow	7	35	37	13	97	-63	126
Free Cash Flow (OCF − Capex proxy)	3	5	37	13	97	-63	126
Cash Conversion (OCF / EBITDA)	10.5%	46.8%	31.7%	7.6%	36.2%	-33.5%	83.1%
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