Ratio	2018	2019	2020
Margins
Gross Margin	100.0%	100.0%	100.0%
EBITDA Margin	118.3%	52.6%	181.5%
EBITDAR	1,265	584	921
EBITDAR Margin	118.3%	52.6%	181.5%
EBIT Margin	98.3%	31.8%	139.6%
Net Profit Margin	128.1%	3.7%	-27.4%
Operating Expense % of Sales	18.3%	47.4%	81.5%
Returns
Return on Assets (ROA)	18.3%	0.6%	-2.1%
Return on Equity (ROE)	28.4%	0.9%	-3.4%
ROIC [EBIT / Invested Capital]	14.7%	5.2%	11.2%
Leverage & liquidity
Debt-to-Assets	32.3%	33.3%	35.2%
Debt-to-Equity	0.50x	0.51x	0.57x
Debt-to-EBITDA	1.91x	3.96x	2.49x
Equity-to-Assets	64.6%	64.8%	62.0%
Net Debt	2,332	2,311	2,293
Cash & Equivalents	86	5	1
Total Debt	2,418	2,316	2,294
Efficiency & working capital
Inventory Turnover	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	N/A	N/A
Receivables Turnover	3.19x	30.03x	20.14x
Days Sales Outstanding (DSO)	114.3	12.2	18.1
Payables Turnover	N/A	N/A	N/A
Days Payable Outstanding (DPO)	N/A	N/A	N/A
Cash Conversion Cycle	114.3 days	12.2 days	18.1 days
Asset Turnover	0.14x	0.16x	0.08x
Cash flow & dividends
Operating Cash Flow	140	439	324
Free Cash Flow (OCF − Capex proxy)	-2,107	439	324
Cash Conversion (OCF / EBITDA)	11.1%	75.1%	35.2%
Dividends Declared	N/A	N/A	N/A
Dividend Payout Ratio	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