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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| Margins | |||||||
| Gross Margin | 8.4% | 15.7% | 43.8% | 18.4% | 29.3% | 44.4% | 21.6% |
| EBITDA Margin | 2.9% | 13.1% | 41.9% | 12.4% | 10.8% | 42.8% | 9.3% |
| EBITDAR | 89 | 204 | 2,318 | 568 | 1,295 | 5,170 | 496 |
| EBITDAR Margin | 3.2% | 13.3% | 42.0% | 12.7% | 10.8% | 42.8% | 9.4% |
| EBIT Margin | 1.2% | 7.2% | 39.9% | 10.2% | 9.9% | 42.1% | 8.5% |
| Net Profit Margin | 2.9% | -1.8% | 34.2% | 14.4% | 16.8% | 39.6% | 3.1% |
| Operating Expense % of Sales | 5.5% | 2.6% | 2.0% | 6.0% | 18.6% | 1.6% | 12.3% |
| Returns | |||||||
| Return on Assets (ROA) | 1.3% | -0.4% | 19.7% | 5.5% | 13.6% | 22.7% | 0.6% |
| Return on Equity (ROE) | 100.0% | -52.4% | 98.0% | 31.1% | 49.2% | 53.9% | 1.8% |
| ROIC [EBIT / Invested Capital] | 1.8% | 5.9% | 89.7% | 11.3% | 18.7% | 43.1% | 4.4% |
| Leverage & debt balances | |||||||
| Debt-to-Assets | 28.8% | 27.1% | 21.7% | 21.9% | 21.3% | 17.4% | 13.1% |
| Debt-to-Equity | 21.84x | 37.36x | 1.08x | 1.25x | 0.77x | 0.41x | 0.41x |
| Debt-to-EBITDA | 21.84x | 9.91x | 0.90x | 4.66x | 2.44x | 0.71x | 7.48x |
| Equity-to-Assets | 1.3% | 0.7% | 20.1% | 17.5% | 27.7% | 42.1% | 32.2% |
| Net Debt | 1,763 | 1,831 | 533 | 1,976 | 2,287 | 2,918 | 1,089 |
| Cash & Equivalents | 15 | 164 | 1,543 | 622 | 873 | 761 | 2,593 |
| Total Debt | 1,778 | 1,995 | 2,076 | 2,598 | 3,160 | 3,679 | 3,682 |
| Liquidity & working capital | |||||||
| Current Ratio | 0.54x | 0.51x | 0.91x | 1.79x | 1.24x | 2.38x | 4.45x |
| Quick Ratio | 0.54x | 0.29x | 0.55x | 0.00x | 1.24x | 2.38x | 4.45x |
| Cash Ratio | 0.00x | 0.03x | 0.28x | 0.21x | 0.12x | 0.16x | 0.54x |
| Total Current Assets | 2,327 | 2,531 | 5,058 | 5,199 | 9,388 | 11,532 | 21,431 |
| Total Current Liabilities | 4,305 | 4,938 | 5,529 | 2,911 | 7,551 | 4,847 | 4,817 |
| Inventory | N/A | 1,079 | 1,996 | 5,199 | N/A | N/A | N/A |
| Trade Receivables | 741 | 1,286 | 1,471 | 497 | 1,054 | 1,348 | 1,867 |
| Trade Payables | 3,191 | 2,665 | 856 | 2,471 | 3,372 | 4,756 | 3,818 |
| Net Working Capital | -1,979 | -2,407 | -471 | 2,288 | 1,837 | 6,684 | 16,614 |
| Net Working Capital % of Revenue | -71.1% | -156.6% | -8.5% | 51.0% | 15.3% | 55.3% | 315.3% |
| Trade Working Capital | -2,451 | -300 | 2,611 | 3,226 | -2,318 | -3,409 | -1,950 |
| Trade Working Capital % of Revenue | -88.1% | -19.6% | 47.3% | 71.9% | -19.3% | -28.2% | -37.0% |
| Change in Trade Working Capital | N/A | 2,150 | 2,911 | 615 | -5,544 | -1,090 | 1,458 |
| Turnover & efficiency | |||||||
| Inventory Turnover | N/A | 1.20x | 1.55x | 0.70x | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | 304.1 | 235.0 | 518.2 | N/A | N/A | N/A |
| Receivables Turnover | 3.76x | 1.19x | 3.75x | 9.04x | 11.41x | 8.97x | 2.82x |
| Days Sales Outstanding (DSO) | 97.1 | 305.5 | 97.3 | 40.4 | 32.0 | 40.7 | 129.3 |
| Payables Turnover | 0.80x | 0.49x | 3.62x | 1.48x | 2.52x | 1.41x | 1.08x |
| Days Payable Outstanding (DPO) | 457.1 | 751.3 | 100.8 | 246.3 | 144.7 | 258.3 | 337.4 |
| Cash Conversion Cycle | -360.0 days | -141.7 days | 231.5 days | 312.4 days | -112.8 days | -217.6 days | -208.0 days |
| Asset Turnover | 0.45x | 0.21x | 0.58x | 0.38x | 0.81x | 0.57x | 0.19x |
| Cash flow & dividends | |||||||
| Operating Cash Flow | 2,524 | 149 | 1,379 | -921 | 11,256 | 14,335 | 22,659 |
| Free Cash Flow (OCF − Capex proxy) | 2,524 | 149 | 1,379 | -921 | -473 | -95 | 2,161 |
| Cash Conversion (OCF / EBITDA) | 3102.0% | 74.0% | 59.7% | -165.3% | 870.0% | 277.3% | 4605.7% |
| 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).