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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Operates in FMCG — Distribution. Per the activity note to the FY2023 annual report, the company imports and wholesales non-alcoholic beverages.
Subsidiary of Olan (75.0%)
| Ratio | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|
| Margins | ||||
| Gross Margin | 17.4% | 17.9% | 6.1% | 14.2% |
| EBITDA Margin | 7.8% | 11.2% | -0.1% | 8.8% |
| EBITDAR | 325 | 501 | -10 | 1,041 |
| EBITDAR Margin | 7.8% | 11.2% | -0.1% | 8.8% |
| EBIT Margin | 7.8% | 11.1% | -0.1% | 8.8% |
| Net Profit Margin | 2.9% | 13.5% | 22.8% | 8.8% |
| Operating Expense % of Sales | 9.6% | 6.8% | 6.2% | 5.4% |
| Returns | ||||
| Return on Assets (ROA) | 5.4% | 23.2% | 48.1% | 15.4% |
| Return on Equity (ROE) | 17.8% | 41.5% | 57.8% | 19.7% |
| ROIC [EBIT / Invested Capital] | 47.9% | 39.0% | -0.2% | 19.7% |
| Leverage & debt balances | ||||
| Debt-to-Assets | 0.0% | 0.0% | 0.0% | 0.0% |
| Debt-to-Equity | 0.00x | 0.00x | 0.00x | 0.00x |
| Debt-to-EBITDA | 0.00x | 0.00x | N/A | 0.00x |
| Equity-to-Assets | 30.4% | 55.9% | 83.3% | 77.8% |
| Net Debt | -12 | -180 | -35 | -2 |
| Cash & Equivalents | 12 | 180 | 35 | 2 |
| Total Debt | N/A | N/A | N/A | N/A |
| Liquidity & working capital | ||||
| Current Ratio | 1.44x | 2.27x | 5.99x | 4.19x |
| Quick Ratio | 1.36x | 2.00x | 5.99x | 4.19x |
| Cash Ratio | 0.01x | 0.16x | 0.04x | 0.00x |
| Total Current Assets | 2,268 | 2,611 | 5,792 | 5,852 |
| Total Current Liabilities | 1,578 | 1,151 | 966 | 1,396 |
| Inventory | 119 | 308 | N/A | N/A |
| Trade Receivables | 2,141 | 2,097 | 5,191 | 5,833 |
| Trade Payables | 1,303 | 956 | 764 | 1,396 |
| Net Working Capital | 690 | 1,461 | 4,825 | 4,457 |
| Net Working Capital % of Revenue | 16.6% | 32.6% | 39.4% | 37.8% |
| Trade Working Capital | 958 | 1,450 | 4,427 | 4,437 |
| Trade Working Capital % of Revenue | 23.0% | 32.3% | 36.1% | 37.7% |
| Change in Trade Working Capital | N/A | 492 | 2,977 | 11 |
| Turnover & efficiency | ||||
| Inventory Turnover | 28.88x | 11.94x | N/A | N/A |
| Days Inventory Outstanding (DIO) | 12.6 | 30.6 | N/A | N/A |
| Receivables Turnover | 1.95x | 2.14x | 2.36x | 2.02x |
| Days Sales Outstanding (DSO) | 187.5 | 170.6 | 154.7 | 180.7 |
| Payables Turnover | 2.64x | 3.85x | 15.05x | 7.24x |
| Days Payable Outstanding (DPO) | 138.1 | 94.7 | 24.3 | 50.4 |
| Cash Conversion Cycle | 62.1 days | 106.5 days | 130.4 days | 130.3 days |
| Asset Turnover | 1.84x | 1.72x | 2.11x | 1.74x |
| Cash flow & dividends | ||||
| Operating Cash Flow | 535 | 561 | -1,481 | N/A |
| Free Cash Flow (OCF − Capex proxy) | 12 | 202 | -901 | N/A |
| Cash Conversion (OCF / EBITDA) | 164.6% | 111.8% | N/A | N/A |
| Dividends Declared | N/A | N/A | N/A | N/A |
| Dividend Payout Ratio | 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).
Ranked by how close each latest revenue is to this one — not a curated comp set.