Ratio	2022	2023	2024
Margins
Gross Margin	15.0%	20.1%	21.2%
EBITDA Margin	13.6%	12.5%	5.8%
EBITDAR	471	713	510
EBITDAR Margin	13.6%	13.0%	7.2%
EBIT Margin	13.5%	12.4%	5.7%
Net Profit Margin	9.9%	9.4%	4.6%
Operating Expense % of Sales	1.4%	7.6%	15.4%
Returns
Return on Assets (ROA)	39.9%	26.4%	11.0%
Return on Equity (ROE)	81.8%	64.6%	27.3%
ROIC [EBIT / Invested Capital]	119.3%	70.1%	25.4%
Leverage & liquidity
Debt-to-Assets	0.0%	11.9%	15.0%
Debt-to-Equity	0.00x	0.29x	0.37x
Debt-to-EBITDA	0.00x	0.34x	1.08x
Equity-to-Assets	48.8%	40.9%	40.3%
Net Debt	-28	172	384
Cash & Equivalents	28	59	60
Total Debt	N/A	231	444
Efficiency & working capital
Inventory Turnover	-26.10x	-26.80x	-70.71x
Days Inventory Outstanding (DIO)	-14.0	-13.6	-5.2
Receivables Turnover	19.57x	9.47x	6.47x
Days Sales Outstanding (DSO)	18.6	38.5	56.4
Payables Turnover	6.77x	5.06x	4.83x
Days Payable Outstanding (DPO)	53.9	72.1	75.6
Cash Conversion Cycle	-49.2 days	-47.2 days	-24.3 days
Asset Turnover	4.03x	2.82x	2.40x
Cash flow & dividends
Operating Cash Flow	28	31	1
Free Cash Flow (OCF − Capex proxy)	28	31	1
Cash Conversion (OCF / EBITDA)	5.9%	4.5%	0.3%
Dividends Declared	N/A	N/A	N/A
Dividend Payout Ratio	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