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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Operates in Restaurants & QSR — Full-Service Restaurants. Per the activity note to the FY2024 annual report, the company provides public catering services operating under the restaurant brand Bernie-Batumi.
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross Margin | 60.2% | 60.8% | 60.5% | 59.4% | 59.2% | 58.9% | 60.1% |
| EBITDA Margin | 12.2% | 19.7% | 0.5% | 12.2% | 18.7% | 13.4% | 13.2% |
| EBITDAR | 261 | 513 | 47 | 361 | 842 | 612 | 642 |
| EBITDAR Margin | 15.8% | 22.3% | 3.1% | 14.1% | 20.1% | 14.8% | 14.5% |
| EBIT Margin | 3.7% | 13.0% | -7.3% | 7.8% | 16.1% | 11.2% | 11.3% |
| Net Profit Margin | -9.1% | 3.3% | -0.8% | 18.7% | 16.2% | 13.2% | 11.7% |
| Operating Expense % of Sales | 48.0% | 41.1% | 60.0% | 47.2% | 40.6% | 45.5% | 47.0% |
| Returns | |||||||
| Return on Assets (ROA) | -9.2% | 4.9% | -0.9% | 31.9% | 44.9% | 38.1% | 36.2% |
| Return on Equity (ROE) | N/A | N/A | N/A | N/A | 132.1% | 51.5% | 39.9% |
| ROIC [EBIT / Invested Capital] | 4.2% | 21.9% | -8.5% | 15.6% | 54.1% | 36.8% | 39.4% |
| Leverage & debt balances | |||||||
| Debt-to-Assets | 129.2% | 124.1% | 132.7% | 103.8% | 55.5% | 16.6% | 0.3% |
| Debt-to-Equity | -3.46x | -3.72x | -3.47x | -9.87x | 1.63x | 0.22x | 0.00x |
| Debt-to-EBITDA | 10.41x | 4.24x | 240.21x | 4.98x | 1.08x | 0.43x | 0.01x |
| Equity-to-Assets | -37.3% | -33.4% | -38.2% | -10.5% | 33.9% | 74.0% | 90.7% |
| Net Debt | 2,059 | 1,885 | 1,821 | 1,431 | 731 | 192 | -24 |
| Cash & Equivalents | 35 | 41 | 18 | 124 | 111 | 47 | 28 |
| Total Debt | 2,095 | 1,925 | 1,839 | 1,555 | 842 | 238 | 5 |
| Liquidity & working capital | |||||||
| Current Ratio | 1.39x | 1.54x | 1.85x | 3.12x | 2.24x | 2.30x | 2.52x |
| Quick Ratio | 1.39x | 1.08x | 1.38x | 2.38x | 2.24x | 2.30x | 2.52x |
| Cash Ratio | 0.27x | 0.28x | 0.23x | 1.24x | 0.70x | 0.37x | 0.22x |
| Total Current Assets | 183 | 221 | 143 | 313 | 356 | 291 | 320 |
| Total Current Liabilities | 132 | 143 | 77 | 101 | 159 | 127 | 127 |
| Inventory | N/A | 65 | 37 | 74 | N/A | N/A | N/A |
| Trade Receivables | 22 | 35 | 20 | 35 | 41 | 53 | 85 |
| Trade Payables | 75 | 57 | 25 | 32 | 51 | 41 | 77 |
| Net Working Capital | 51 | 77 | 66 | 213 | 197 | 164 | 193 |
| Net Working Capital % of Revenue | 3.1% | 3.4% | 4.4% | 8.3% | 4.7% | 4.0% | 4.3% |
| Trade Working Capital | -53 | 43 | 32 | 77 | -10 | 13 | 8 |
| Trade Working Capital % of Revenue | -3.2% | 1.9% | 2.1% | 3.0% | -0.2% | 0.3% | 0.2% |
| Change in Trade Working Capital | N/A | 96 | -11 | 45 | -87 | 22 | -4 |
| Turnover & efficiency | |||||||
| Inventory Turnover | N/A | 13.80x | 16.23x | 13.97x | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | 26.4 | 22.5 | 26.1 | N/A | N/A | N/A |
| Receivables Turnover | 75.24x | 65.65x | 74.71x | 72.89x | 101.67x | 77.55x | 51.82x |
| Days Sales Outstanding (DSO) | 4.9 | 5.6 | 4.9 | 5.0 | 3.6 | 4.7 | 7.0 |
| Payables Turnover | 8.73x | 15.72x | 23.99x | 32.15x | 33.43x | 41.70x | 22.88x |
| Days Payable Outstanding (DPO) | 41.8 | 23.2 | 15.2 | 11.4 | 10.9 | 8.8 | 16.0 |
| Cash Conversion Cycle | -37.0 days | 8.8 days | 12.2 days | 19.8 days | -7.3 days | -4.0 days | -8.9 days |
| Asset Turnover | 1.02x | 1.48x | 1.09x | 1.71x | 2.77x | 2.88x | 3.10x |
| Cash flow & dividends | |||||||
| Operating Cash Flow | 267 | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow (OCF − Capex proxy) | 146 | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash Conversion (OCF / EBITDA) | 132.9% | N/A | N/A | N/A | 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 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.
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.
Ownership & directors from companyinfo.ge (public corporate registry).
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