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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 0 · FY2023 0 · FY2024 0
Operator of the Grand Mall shopping centre in Batumi.
| Ratio | 2022 | 2023 | 2024 |
|---|---|---|---|
| Margins | |||
| Gross Margin | N/A | 49.6% | 67.7% |
| EBITDA Margin | N/A | 15.3% | 58.9% |
| EBITDAR | -378 | 665 | 13,826 |
| EBITDAR Margin | N/A | 15.3% | 58.9% |
| EBIT Margin | N/A | 15.3% | 58.9% |
| Net Profit Margin | N/A | -45.6% | 41.7% |
| Operating Expense % of Sales | N/A | 96.9% | 16.3% |
| Returns | |||
| Return on Assets (ROA) | 0.7% | -2.6% | 13.7% |
| Return on Equity (ROE) | 4.8% | -43.0% | 68.0% |
| ROIC [EBIT / Invested Capital] | -2.2% | 1.3% | 25.2% |
| Leverage & debt balances | |||
| Debt-to-Assets | 50.8% | 62.6% | 57.1% |
| Debt-to-Equity | 3.53x | 10.24x | 2.84x |
| Debt-to-EBITDA | N/A | 70.92x | 2.96x |
| Equity-to-Assets | 14.4% | 6.1% | 20.1% |
| Net Debt | 10,535 | 47,071 | 40,579 |
| Cash & Equivalents | 12,669 | 61 | 294 |
| Total Debt | 23,204 | 47,131 | 40,873 |
| Liquidity & working capital | |||
| Current Ratio | 0.69x | 0.27x | 0.12x |
| Quick Ratio | 0.64x | 0.24x | 0.10x |
| Cash Ratio | 0.52x | 0.00x | 0.01x |
| Total Current Assets | 16,919 | 6,974 | 3,017 |
| Total Current Liabilities | 24,459 | 26,250 | 24,560 |
| Inventory | 1,292 | 556 | 459 |
| Trade Receivables | 2,958 | 5,880 | 2,264 |
| Trade Payables | 15,572 | 23,603 | 16,094 |
| Net Working Capital | -7,539 | -19,276 | -21,543 |
| Net Working Capital % of Revenue | N/A | -444.7% | -91.8% |
| Trade Working Capital | -11,322 | -17,166 | -13,371 |
| Trade Working Capital % of Revenue | N/A | -396.0% | -57.0% |
| Change in Trade Working Capital | N/A | -5,844 | 3,795 |
| Turnover & efficiency | |||
| Inventory Turnover | N/A | 3.92x | 16.53x |
| Days Inventory Outstanding (DIO) | N/A | 93.0 | 22.1 |
| Receivables Turnover | N/A | 0.74x | 10.37x |
| Days Sales Outstanding (DSO) | N/A | 495.1 | 35.2 |
| Payables Turnover | N/A | 0.09x | 0.47x |
| Days Payable Outstanding (DPO) | N/A | 3946.0 | 774.3 |
| Cash Conversion Cycle | N/A | -3357.8 days | -717.0 days |
| Asset Turnover | 0.00x | 0.06x | 0.33x |
| Cash flow & dividends | |||
| Operating Cash Flow | -376 | 5,556 | 10,966 |
| Free Cash Flow (OCF − Capex proxy) | -9,234 | -34,867 | 6,764 |
| Cash Conversion (OCF / EBITDA) | N/A | 836.0% | 79.3% |
| Dividends Declared | 0 | 0 | 0 |
| Dividend Payout Ratio | 0.0% | N/A | 0.0% |
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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