Ratio	2017	2018	2019	2020	2021	2023	2024
Margins
Gross Margin	81.5%	69.5%	78.6%	94.1%	99.1%	91.1%	95.8%
EBITDA Margin	24.7%	32.1%	42.7%	86.0%	96.0%	-133.0%	16.4%
EBITDAR	385	710	1,663	2,908	1,741	-657	281
EBITDAR Margin	24.9%	32.1%	42.7%	86.0%	96.0%	-126.1%	18.0%
EBIT Margin	24.1%	31.6%	42.5%	85.8%	95.7%	-134.4%	14.1%
Net Profit Margin	61.6%	31.2%	34.8%	78.2%	99.2%	-126.5%	-20.9%
Operating Expense % of Sales	56.9%	37.5%	35.9%	8.1%	3.0%	224.2%	79.4%
Returns
Return on Assets (ROA)	16.4%	9.1%	19.2%	37.6%	22.9%	-4.4%	-1.0%
Return on Equity (ROE)	96.6%	41.1%	48.7%	58.3%	31.7%	-11.6%	-7.1%
ROIC [EBIT / Invested Capital]	23.6%	32.7%	54.2%	64.6%	30.6%	-13.9%	4.6%
Leverage & debt balances
Debt-to-Assets	10.9%	6.1%	4.1%	0.0%	0.0%	0.0%	4.5%
Debt-to-Equity	0.64x	0.28x	0.10x	0.00x	0.00x	0.00x	0.31x
Debt-to-EBITDA	1.65x	0.66x	0.17x	0.00x	0.00x	N/A	5.50x
Equity-to-Assets	17.0%	22.1%	39.4%	64.6%	72.4%	38.2%	14.7%
Net Debt	590	456	275	-45	-5	-660	250
Cash & Equivalents	41	9	11	45	5	660	1,153
Total Debt	631	465	286	N/A	N/A	N/A	1,403
Liquidity & working capital
Current Ratio	0.04x	0.86x	1.10x	1.70x	1.98x	0.93x	0.53x
Quick Ratio	0.04x	0.86x	0.38x	0.43x	0.48x	0.93x	0.53x
Cash Ratio	0.01x	0.00x	0.00x	0.02x	0.00x	0.07x	0.05x
Total Current Assets	173	5,058	4,405	4,233	4,289	8,581	13,312
Total Current Liabilities	4,816	5,901	3,990	2,488	2,167	9,205	25,139
Inventory	N/A	N/A	2,891	3,171	3,244	N/A	N/A
Trade Receivables	51	48	133	100	121	339	811
Trade Payables	2,190	2,170	647	782	1,356	2,822	14,491
Net Working Capital	-4,643	-843	415	1,745	2,122	-624	-11,827
Net Working Capital % of Revenue	-299.7%	-38.1%	10.7%	51.6%	117.0%	-119.7%	-759.2%
Trade Working Capital	-2,139	-2,122	2,377	2,489	2,009	-2,483	-13,679
Trade Working Capital % of Revenue	-138.1%	-95.9%	61.1%	73.6%	110.8%	-476.4%	-878.0%
Change in Trade Working Capital	N/A	17	4,499	112	-480	N/A	-11,196
Turnover & efficiency
Inventory Turnover	N/A	N/A	0.29x	0.06x	0.01x	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	N/A	1269.4	5757.9	68792.2	N/A	N/A
Receivables Turnover	30.66x	46.31x	29.32x	33.95x	14.96x	1.54x	1.92x
Days Sales Outstanding (DSO)	11.9	7.9	12.4	10.8	24.4	237.5	190.1
Payables Turnover	0.13x	0.31x	1.29x	0.26x	0.01x	0.02x	0.00x
Days Payable Outstanding (DPO)	2796.0	1175.2	284.0	1419.8	28753.7	22269.8	80753.5
Cash Conversion Cycle	-2784.1 days	-1167.3 days	997.8 days	4348.9 days	40062.9 days	-22032.3 days	-80563.5 days
Asset Turnover	0.27x	0.29x	0.55x	0.48x	0.23x	0.03x	0.05x
Cash flow & dividends
Operating Cash Flow	-479	154	708	1,319	427	-817	-186
Free Cash Flow (OCF − Capex proxy)	-479	154	708	1,319	427	-817	-186
Cash Conversion (OCF / EBITDA)	-125.3%	21.7%	42.6%	45.4%	24.5%	N/A	-73.0%
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 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.

companyinfo.ge · fetched 2026-07-15

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.

Shareholders

Merab Khimshiashvili25.0%
Ednar Khimshiashvili25.0%
Nodar Khimshiashvili25.0%
Durmishkhan Khimshiashvili25.0%

Merab Khimshiashviliმერაბ ხიმშიაშვილი

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