Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	23.9%	23.3%	23.7%	28.6%	23.3%	26.3%	30.7%
EBITDA Margin	16.5%	14.4%	16.5%	15.7%	13.4%	13.5%	17.9%
EBITDAR	931	724	642	618	591	508	676
EBITDAR Margin	20.3%	16.4%	18.3%	18.6%	15.5%	15.7%	19.7%
EBIT Margin	16.4%	14.3%	16.4%	15.5%	13.0%	13.1%	17.6%
Net Profit Margin	13.8%	11.8%	8.8%	17.4%	13.4%	12.5%	18.0%
Operating Expense % of Sales	7.4%	8.9%	7.3%	12.9%	9.9%	12.8%	12.7%
Returns
Return on Assets (ROA)	24.8%	20.4%	12.7%	27.4%	20.2%	15.8%	20.4%
Return on Equity (ROE)	47.9%	32.0%	18.7%	35.4%	29.5%	17.5%	20.6%
ROIC [EBIT / Invested Capital]	38.3%	27.3%	23.9%	27.4%	23.3%	16.8%	20.2%
Leverage & liquidity
Debt-to-Assets	27.6%	32.8%	30.9%	17.4%	16.6%	8.9%	0.6%
Debt-to-Equity	0.53x	0.51x	0.46x	0.22x	0.24x	0.10x	0.01x
Debt-to-EBITDA	0.93x	1.32x	1.30x	0.70x	0.82x	0.52x	0.03x
Equity-to-Assets	51.7%	63.8%	68.0%	77.5%	68.4%	90.6%	99.2%
Net Debt	640	681	740	249	407	206	-15
Cash & Equivalents	68	158	12	119	11	23	33
Total Debt	708	839	753	368	419	229	18
Efficiency & working capital
Inventory Turnover	N/A	1.86x	1.94x	2.16x	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	196.1	188.6	168.9	N/A	N/A	N/A
Receivables Turnover	17.42x	11.52x	27.49x	16.77x	75.04x	12.53x	7.46x
Days Sales Outstanding (DSO)	21.0	31.7	13.3	21.8	4.9	29.1	49.0
Payables Turnover	6.60x	38.65x	102.08x	21.82x	7.73x	211.64x	469.42x
Days Payable Outstanding (DPO)	55.3	9.4	3.6	16.7	47.2	1.7	0.8
Cash Conversion Cycle	-34.4 days	218.4 days	198.3 days	173.9 days	-42.4 days	27.4 days	48.2 days
Asset Turnover	1.79x	1.73x	1.44x	1.57x	1.51x	1.27x	1.13x
Cash flow & dividends
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow (OCF − Capex proxy)	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash Conversion (OCF / EBITDA)	N/A	N/A	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 ₾ '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