Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	29.7%	28.2%	29.1%	27.4%	33.9%	38.0%	33.9%
EBITDA Margin	21.8%	20.8%	21.9%	20.3%	26.6%	28.8%	23.5%
EBITDAR	747	902	1,051	1,132	1,865	1,892	1,543
EBITDAR Margin	21.8%	20.8%	21.9%	20.3%	27.3%	29.5%	24.2%
EBIT Margin	21.7%	20.6%	21.6%	20.0%	26.4%	28.5%	23.1%
Net Profit Margin	21.8%	20.8%	21.9%	20.3%	26.9%	24.9%	21.4%
Operating Expense % of Sales	8.0%	7.4%	7.3%	7.1%	7.3%	9.2%	10.5%
Returns
Return on Assets (ROA)	34.7%	33.0%	29.0%	34.6%	45.2%	39.3%	29.1%
Return on Equity (ROE)	41.1%	33.2%	30.4%	35.1%	53.5%	44.7%	33.2%
ROIC [EBIT / Invested Capital]	41.4%	33.8%	38.8%	42.6%	65.9%	57.1%	40.4%
Leverage & debt balances
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	84.4%	99.4%	95.5%	98.5%	84.5%	87.8%	87.9%
Net Debt	-24	-72	-777	-597	-703	-380	-470
Cash & Equivalents	24	72	777	597	703	380	470
Total Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Liquidity & working capital
Current Ratio	6.28x	170.35x	21.95x	65.80x	2.31x	8.63x	8.06x
Quick Ratio	6.28x	89.79x	13.54x	40.48x	2.31x	8.63x	8.06x
Cash Ratio	0.07x	4.70x	4.77x	12.45x	1.24x	0.83x	0.83x
Total Current Assets	2,105	2,605	3,573	3,157	1,309	3,948	4,564
Total Current Liabilities	335	15	163	48	568	457	567
Inventory	N/A	1,232	1,370	1,215	N/A	N/A	N/A
Trade Receivables	769	1,114	1,264	1,264	1,309	999	1,082
Trade Payables	335	15	43	5	534	80	119
Net Working Capital	1,770	2,589	3,411	3,109	742	3,491	3,998
Net Working Capital % of Revenue	51.6%	59.7%	71.0%	55.8%	10.9%	54.5%	62.8%
Trade Working Capital	434	2,330	2,591	2,473	776	920	963
Trade Working Capital % of Revenue	12.7%	53.7%	53.9%	44.4%	11.4%	14.4%	15.1%
Change in Trade Working Capital	N/A	1,896	261	-118	-1,698	144	44
Turnover & efficiency
Inventory Turnover	N/A	2.53x	2.49x	3.33x	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	144.3	146.8	109.5	N/A	N/A	N/A
Receivables Turnover	4.46x	3.90x	3.80x	4.41x	5.21x	6.41x	5.88x
Days Sales Outstanding (DSO)	81.9	93.7	96.0	82.7	70.0	56.9	62.0
Payables Turnover	7.19x	203.76x	79.65x	809.57x	8.45x	49.94x	35.30x
Days Payable Outstanding (DPO)	50.8	1.8	4.6	0.5	43.2	7.3	10.3
Cash Conversion Cycle	31.1 days	236.2 days	238.2 days	191.8 days	26.8 days	49.6 days	51.7 days
Asset Turnover	1.59x	1.59x	1.33x	1.71x	1.68x	1.57x	1.36x
Cash flow & dividends
Operating Cash Flow	-183	48	914	776	5,222	7,693	7,492
Free Cash Flow (OCF − Capex proxy)	-183	48	914	776	5,222	7,693	7,492
Cash Conversion (OCF / EBITDA)	-24.5%	5.3%	87.0%	68.6%	287.4%	417.2%	501.6%
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

Shareholders

მერაბ სალვარიძე100.0%

მერაბ სალვარიძეPartner / Shareholder100.0%

Directors & board

მერაბ სალვარიძეDirector

Ownership & directors from companyinfo.ge (public corporate registry).