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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 350 · FY2023 9,490 · FY2024 2,430 — 3-yr total 12,270
Operates in Industrial Goods — Building Materials. Per the activity note to the FY2024 annual report, the company manufactures asphalt concrete.
Subsidiary of New Road (100.0%)
| Ratio | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| Margins | ||||||
| Gross Margin | 27.6% | 31.5% | 24.5% | 25.0% | 25.9% | 30.5% |
| EBITDA Margin | 27.3% | 30.1% | 23.3% | 24.3% | 24.6% | 29.4% |
| EBITDAR | 1,136 | 4,580 | 1,975 | 6,437 | 3,437 | 6,811 |
| EBITDAR Margin | 27.3% | 30.1% | 23.3% | 24.3% | 24.6% | 29.4% |
| EBIT Margin | 27.3% | 30.1% | 23.3% | 24.3% | 24.6% | 29.4% |
| Net Profit Margin | 67.0% | 29.3% | 20.8% | 24.4% | 24.0% | 29.9% |
| Operating Expense % of Sales | 0.2% | 1.4% | 1.2% | 0.6% | 1.3% | 1.2% |
| Returns | ||||||
| Return on Assets (ROA) | 41.8% | 68.7% | 36.7% | 59.7% | 90.0% | 70.3% |
| Return on Equity (ROE) | 101.8% | 162.2% | 81.7% | 77.6% | 153.5% | 103.7% |
| ROIC [EBIT / Invested Capital] | 37.9% | 132.1% | 65.5% | 74.4% | 136.6% | 102.8% |
| Leverage & debt balances | ||||||
| Debt-to-Assets | 10.0% | 12.4% | 18.4% | 4.3% | 9.1% | 0.2% |
| Debt-to-Equity | 0.24x | 0.29x | 0.41x | 0.06x | 0.15x | 0.00x |
| Debt-to-EBITDA | 0.58x | 0.18x | 0.45x | 0.07x | 0.10x | 0.00x |
| Equity-to-Assets | 41.1% | 42.3% | 44.9% | 76.9% | 58.6% | 67.8% |
| Net Debt | 261 | 717 | 851 | 334 | 336 | -70 |
| Cash & Equivalents | 403 | 87 | 37 | 128 | 2 | 92 |
| Total Debt | 664 | 804 | 887 | 463 | 338 | 22 |
| Liquidity & working capital | ||||||
| Current Ratio | 18.68x | 4.41x | 4.53x | 4.50x | 0.56x | 1.00x |
| Quick Ratio | 17.85x | 3.96x | 3.31x | 4.34x | 0.23x | 0.77x |
| Cash Ratio | 3.89x | 0.17x | 0.17x | 0.08x | 0.00x | 0.03x |
| Total Current Assets | 1,939 | 2,209 | 961 | 7,543 | 800 | 3,157 |
| Total Current Liabilities | 104 | 501 | 212 | 1,678 | 1,417 | 3,160 |
| Inventory | 87 | 225 | 258 | 267 | 480 | 728 |
| Trade Receivables | 1,347 | 1,781 | 531 | 7,148 | 317 | 2,337 |
| Trade Payables | 42 | 473 | 172 | 905 | 1,079 | 3,160 |
| Net Working Capital | 1,835 | 1,708 | 748 | 5,865 | -617 | -3 |
| Net Working Capital % of Revenue | 44.1% | 11.2% | 8.8% | 22.1% | -4.4% | -0.0% |
| Trade Working Capital | 1,392 | 1,533 | 617 | 6,510 | -281 | -95 |
| Trade Working Capital % of Revenue | 33.5% | 10.1% | 7.3% | 24.6% | -2.0% | -0.4% |
| Change in Trade Working Capital | N/A | 141 | -916 | 5,894 | -6,792 | 186 |
| Turnover & efficiency | ||||||
| Inventory Turnover | 34.79x | 46.40x | 24.82x | 74.40x | 21.55x | 22.16x |
| Days Inventory Outstanding (DIO) | 10.5 | 7.9 | 14.7 | 4.9 | 16.9 | 16.5 |
| Receivables Turnover | 3.09x | 8.55x | 15.99x | 3.70x | 44.04x | 9.93x |
| Days Sales Outstanding (DSO) | 118.3 | 42.7 | 22.8 | 98.5 | 8.3 | 36.8 |
| Payables Turnover | 71.78x | 22.08x | 37.27x | 21.96x | 9.60x | 5.10x |
| Days Payable Outstanding (DPO) | 5.1 | 16.5 | 9.8 | 16.6 | 38.0 | 71.5 |
| Cash Conversion Cycle | 123.7 days | 34.0 days | 27.7 days | 86.8 days | -12.8 days | -18.3 days |
| Asset Turnover | 0.62x | 2.34x | 1.76x | 2.45x | 3.75x | 2.35x |
| Cash flow & dividends | ||||||
| Operating Cash Flow | 1,692 | 5,003 | 3,436 | 1,588 | 10,470 | 5,958 |
| Free Cash Flow (OCF − Capex proxy) | 1,461 | 5,003 | 3,387 | 1,586 | 10,470 | 2,958 |
| Cash Conversion (OCF / EBITDA) | 148.9% | 109.2% | 173.9% | 24.7% | 304.6% | 87.5% |
| Dividends Declared | 50 | 4,448 | 2,354 | 350 | 9,490 | 2,430 |
| Dividend Payout Ratio | 1.8% | 99.7% | 133.2% | 5.4% | 283.5% | 35.0% |
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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