Ratio	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	89.8%	71.7%	67.1%	37.6%	46.7%	46.8%	35.7%
EBITDA Margin	28.0%	65.5%	56.9%	24.1%	20.2%	13.1%	16.6%
EBITDAR	197	5,309	3,278	3,079	2,249	1,129	1,281
EBITDAR Margin	28.0%	65.5%	57.0%	24.1%	20.2%	13.1%	16.6%
EBIT Margin	22.1%	64.8%	56.4%	21.0%	16.1%	7.9%	10.4%
Net Profit Margin	28.0%	58.5%	50.7%	20.1%	16.2%	12.3%	16.3%
Operating Expense % of Sales	61.8%	6.2%	10.2%	13.5%	26.5%	33.7%	19.1%
Returns
Return on Assets (ROA)	1.3%	22.7%	13.7%	16.4%	14.5%	9.6%	11.7%
Return on Equity (ROE)	N/A	120.0%	57.4%	50.0%	28.5%	16.6%	18.1%
ROIC [EBIT / Invested Capital]	N/A	315.6%	88.1%	87.3%	42.5%	18.4%	22.3%
Leverage & debt balances
Debt-to-Assets	0.0%	0.0%	0.0%	0.1%	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	-5.0%	18.9%	23.9%	32.9%	50.8%	58.1%	64.6%
Net Debt	-2,821	-2,289	-1,397	-2,052	-2,107	-2,671	-3,325
Cash & Equivalents	2,821	2,289	1,397	2,062	2,107	2,671	3,325
Total Debt	N/A	N/A	N/A	10	N/A	N/A	N/A
Liquidity & working capital
Current Ratio	N/A	N/A	N/A	1008.47x	N/A	N/A	N/A
Quick Ratio	N/A	N/A	N/A	726.24x	N/A	N/A	N/A
Cash Ratio	N/A	N/A	N/A	207.54x	N/A	N/A	N/A
Total Current Assets	15,423	19,802	17,143	10,017	7,001	4,691	4,606
Total Current Liabilities	N/A	N/A	N/A	10	N/A	N/A	N/A
Inventory	N/A	10,870	9,956	2,803	N/A	N/A	N/A
Trade Receivables	170	699	839	283	491	228	250
Trade Payables	70	312	292	121	139	259	117
Net Working Capital	15,423	19,802	17,143	10,007	7,001	4,691	4,606
Net Working Capital % of Revenue	2194.0%	244.1%	298.1%	78.3%	62.9%	54.4%	59.7%
Trade Working Capital	99	11,257	10,503	2,965	352	-31	132
Trade Working Capital % of Revenue	14.1%	138.8%	182.6%	23.2%	3.2%	-0.4%	1.7%
Change in Trade Working Capital	N/A	11,158	-754	-7,538	-2,613	-383	163
Turnover & efficiency
Inventory Turnover	N/A	0.21x	0.19x	2.84x	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	1727.6	1920.6	128.3	N/A	N/A	N/A
Receivables Turnover	4.15x	11.60x	6.85x	45.10x	22.70x	37.81x	30.89x
Days Sales Outstanding (DSO)	88.0	31.5	53.3	8.1	16.1	9.7	11.8
Payables Turnover	1.02x	7.36x	6.48x	65.74x	42.83x	17.72x	42.23x
Days Payable Outstanding (DPO)	359.2	49.6	56.3	5.6	8.5	20.6	8.6
Cash Conversion Cycle	-271.2 days	1709.4 days	1917.5 days	130.8 days	7.6 days	-10.9 days	3.2 days
Asset Turnover	0.04x	0.39x	0.27x	0.82x	0.89x	0.78x	0.72x
Cash flow & dividends
Operating Cash Flow	901	-532	-892	665	N/A	N/A	N/A
Free Cash Flow (OCF − Capex proxy)	901	-532	-892	665	N/A	N/A	N/A
Cash Conversion (OCF / EBITDA)	457.4%	-10.0%	-27.2%	21.6%	N/A	N/A	N/A
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

ზურაბ მსახურაძე75.0%
ანზორ ქათამაძე25.0%

ზურაბ მსახურაძეPartner / Shareholder75.0%ანზორ ქათამაძეPartner / Shareholder25.0%

Key metrics

Revenue & margins

Financial statements

Ownership & group structure

Shareholders

Directors & board