Ratio	2018	2019	2020	2021
Margins
Gross Margin	97.6%	98.1%	96.6%	94.9%
EBITDA Margin	22.4%	41.0%	39.4%	-47.6%
EBITDAR	328	1,838	2,792	-1,131
EBITDAR Margin	22.5%	41.1%	39.9%	-47.0%
EBIT Margin	21.8%	40.8%	39.2%	-48.4%
Net Profit Margin	21.8%	40.8%	39.4%	-21.4%
Operating Expense % of Sales	75.3%	57.1%	57.2%	142.5%
Returns
Return on Assets (ROA)	6.9%	151.9%	72.9%	-27.4%
Return on Equity (ROE)	74.8%	348.0%	110.0%	-50.8%
ROIC [EBIT / Invested Capital]	103.5%	680.1%	114.5%	-118.7%
Leverage & liquidity
Debt-to-Assets	0.0%	0.0%	0.0%	0.0%
Debt-to-Equity	0.00x	0.00x	0.00x	0.00x
Debt-to-EBITDA	0.00x	0.00x	0.00x	N/A
Equity-to-Assets	9.2%	43.6%	66.3%	54.0%
Net Debt	-118	-256	-109	-33
Cash & Equivalents	119	256	109	33
Total Debt	0	N/A	N/A	N/A
Efficiency & working capital
Inventory Turnover	N/A	0.34x	1.42x	0.97x
Days Inventory Outstanding (DIO)	N/A	1062.6	257.3	375.2
Receivables Turnover	6.18x	8.05x	2.10x	2.50x
Days Sales Outstanding (DSO)	59.0	45.4	174.1	146.1
Payables Turnover	N/A	0.13x	0.21x	0.15x
Days Payable Outstanding (DPO)	N/A	2740.0	1735.4	2499.1
Cash Conversion Cycle	59.0 days	-1632.1 days	-1304.0 days	-1977.8 days
Asset Turnover	0.32x	3.72x	1.85x	1.28x
Cash flow & dividends
Operating Cash Flow	75	137	1,876	N/A
Free Cash Flow (OCF − Capex proxy)	75	137	1,876	N/A
Cash Conversion (OCF / EBITDA)	23.1%	7.5%	68.0%	N/A
Dividends Declared	N/A	N/A	N/A	N/A
Dividend Payout Ratio	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