Ratio	2017	2018	2019	2020	2021
Margins
Gross Margin	18.3%	28.4%	29.9%	16.4%	100.0%
EBITDA Margin	2.3%	10.1%	14.1%	-77.6%	-44.6%
EBITDAR	1,889	4,905	19,581	-11,266	-917
EBITDAR Margin	2.3%	10.1%	14.1%	-77.6%	-44.6%
EBIT Margin	2.3%	10.1%	14.1%	-77.6%	-44.6%
Net Profit Margin	-0.9%	9.6%	12.9%	-62.0%	-58.1%
Operating Expense % of Sales	16.0%	18.3%	15.8%	94.0%	144.6%
Returns
Return on Assets (ROA)	-4.4%	20.8%	84.1%	-232.5%	-213.9%
Return on Equity (ROE)	-7.7%	34.1%	116.9%	-272.1%	-213.9%
ROIC [EBIT / Invested Capital]	26.8%	45.0%	N/A	-6282.3%	-1020.4%
Leverage & liquidity
Debt-to-Assets	0.0%	0.0%	0.0%	0.0%	0.0%
Debt-to-Equity	0.00x	0.00x	0.00x	0.00x	0.00x
Debt-to-EBITDA	0.00x	0.00x	0.00x	N/A	N/A
Equity-to-Assets	57.2%	61.1%	71.9%	85.4%	100.0%
Net Debt	-2,931	-2,771	-15,438	-3,126	-469
Cash & Equivalents	2,931	2,771	15,438	3,126	469
Total Debt	N/A	N/A	N/A	N/A	N/A
Efficiency & working capital
Inventory Turnover	17.14x	4.00x	24.46x	25.49x	N/A
Days Inventory Outstanding (DIO)	21.3	91.2	14.9	14.3	N/A
Receivables Turnover	28.13x	9.23x	526.77x	57.50x	N/A
Days Sales Outstanding (DSO)	13.0	39.5	0.7	6.3	N/A
Payables Turnover	10.07x	4.57x	20.81x	21.53x	N/A
Days Payable Outstanding (DPO)	36.2	79.9	17.5	17.0	N/A
Cash Conversion Cycle	-2.0 days	50.8 days	-1.9 days	3.7 days	N/A
Asset Turnover	4.62x	2.17x	6.53x	3.75x	3.68x
Cash flow & dividends
Operating Cash Flow	1,133	1,356	28,460	-11,852	-2,083
Free Cash Flow (OCF − Capex proxy)	1,133	1,136	28,542	-9,978	-1,827
Cash Conversion (OCF / EBITDA)	60.0%	27.6%	145.3%	N/A	N/A
Dividends Declared	10,012	978	16,256	3,064	N/A
Dividend Payout Ratio	N/A	21.0%	90.7%	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