Ratio	2021	2022	2023	2024
Margins
Gross Margin	12.3%	9.3%	-4.2%	0.4%
EBITDA Margin	-21.0%	8.8%	-6.4%	-0.8%
EBITDAR	-601	2,683	-227	-46
EBITDAR Margin	-21.0%	8.8%	-6.4%	-0.8%
EBIT Margin	-21.0%	8.8%	-6.4%	-0.8%
Net Profit Margin	-26.2%	-0.8%	-10.1%	12.4%
Operating Expense % of Sales	100.7%	0.4%	2.2%	1.2%
Returns
Return on Assets (ROA)	-7.0%	-2.1%	-4.1%	16.3%
Return on Equity (ROE)	N/A	N/A	N/A	N/A
ROIC [EBIT / Invested Capital]	-29.4%	871.7%	-2888.2%	-8.0%
Leverage & liquidity
Debt-to-Assets	26.7%	13.5%	16.5%	34.3%
Debt-to-Equity	-3.82x	-1.46x	-1.06x	-2.23x
Debt-to-EBITDA	N/A	0.55x	N/A	N/A
Equity-to-Assets	-7.0%	-9.2%	-15.5%	-15.4%
Net Debt	2,793	1,315	1,375	1,224
Cash & Equivalents	65	159	78	228
Total Debt	2,859	1,474	1,453	1,453
Efficiency & working capital
Inventory Turnover	0.33x	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	1093.6	N/A	N/A	N/A
Receivables Turnover	0.91x	2.83x	0.41x	1.40x
Days Sales Outstanding (DSO)	399.7	128.9	898.9	261.3
Payables Turnover	0.29x	4.88x	0.97x	3.15x
Days Payable Outstanding (DPO)	1251.6	74.8	377.9	116.0
Cash Conversion Cycle	241.7 days	54.0 days	520.9 days	145.3 days
Asset Turnover	0.27x	2.79x	0.40x	1.32x
Cash flow & dividends
Operating Cash Flow	11,334	2,864	-54	151
Free Cash Flow (OCF − Capex proxy)	62	2,864	-54	151
Cash Conversion (OCF / EBITDA)	N/A	106.8%	N/A	N/A
Dividends Declared	0	0	0	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