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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
Operates in Industrial Goods — Chemicals. Per the activity note to the FY2024 annual report, the company manufactures and sells adhesive cement and extruded polystyrene foam.
Subsidiary of Nova (100.0%)
| Ratio | 2022 | 2023 | 2024 |
|---|---|---|---|
| Margins | |||
| Gross Margin | 9.9% | 1.0% | 0.4% |
| EBITDA Margin | 7.0% | -7.0% | -5.3% |
| EBITDAR | 478 | -404 | -619 |
| EBITDAR Margin | 9.0% | -3.9% | -5.3% |
| EBIT Margin | 4.1% | -8.9% | -8.2% |
| Net Profit Margin | -1.5% | -19.0% | -17.9% |
| Operating Expense % of Sales | 2.9% | 8.0% | 5.7% |
| Returns | |||
| Return on Assets (ROA) | -0.6% | -13.6% | -14.7% |
| Return on Equity (ROE) | N/A | N/A | N/A |
| ROIC [EBIT / Invested Capital] | 2.4% | -10.7% | -14.8% |
| Leverage & debt balances | |||
| Debt-to-Assets | 75.4% | 74.0% | 74.7% |
| Debt-to-Equity | -95.56x | -5.19x | -2.55x |
| Debt-to-EBITDA | 24.97x | N/A | N/A |
| Equity-to-Assets | -0.8% | -14.3% | -29.3% |
| Net Debt | 9,056 | 10,685 | 10,645 |
| Cash & Equivalents | 309 | 54 | 11 |
| Total Debt | 9,365 | 10,739 | 10,656 |
| Liquidity & working capital | |||
| Current Ratio | 1.90x | 0.59x | 0.48x |
| Quick Ratio | 1.26x | 0.15x | 0.12x |
| Cash Ratio | 0.21x | 0.01x | 0.00x |
| Total Current Assets | 2,844 | 2,837 | 3,895 |
| Total Current Liabilities | 1,497 | 4,842 | 8,104 |
| Inventory | 962 | 2,114 | 2,898 |
| Trade Receivables | 1,347 | 168 | 167 |
| Trade Payables | 989 | 3,808 | 5,992 |
| Net Working Capital | 1,347 | -2,005 | -4,209 |
| Net Working Capital % of Revenue | 25.3% | -19.3% | -35.8% |
| Trade Working Capital | 1,320 | -1,526 | -2,927 |
| Trade Working Capital % of Revenue | 24.8% | -14.7% | -24.9% |
| Change in Trade Working Capital | N/A | -2,846 | -1,401 |
| Turnover & efficiency | |||
| Inventory Turnover | 4.99x | 4.86x | 4.04x |
| Days Inventory Outstanding (DIO) | 73.2 | 75.1 | 90.4 |
| Receivables Turnover | 3.96x | 61.77x | 70.35x |
| Days Sales Outstanding (DSO) | 92.3 | 5.9 | 5.2 |
| Payables Turnover | 4.85x | 2.70x | 1.95x |
| Days Payable Outstanding (DPO) | 75.2 | 135.2 | 186.9 |
| Cash Conversion Cycle | 90.2 days | -54.3 days | -91.3 days |
| Asset Turnover | 0.43x | 0.72x | 0.82x |
| Cash flow & dividends | |||
| Operating Cash Flow | -1,396 | 2,433 | 1,916 |
| Free Cash Flow (OCF − Capex proxy) | -7,042 | -241 | 1,377 |
| Cash Conversion (OCF / EBITDA) | -372.3% | N/A | N/A |
| Dividends Declared | 0 | 0 | 0 |
| 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 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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