Ratio	2017	2018	2019	2020	2021	2022	2023	2024
Margins
Gross Margin	77.0%	75.4%	60.2%	68.4%	51.1%	66.2%	45.6%	54.3%
EBITDA Margin	31.2%	44.6%	19.2%	16.2%	18.2%	28.5%	16.0%	13.3%
EBITDAR	777	943	485	261	529	744	860	530
EBITDAR Margin	31.4%	44.9%	19.5%	16.5%	18.5%	28.8%	16.1%	13.5%
EBIT Margin	22.6%	36.5%	13.1%	9.0%	18.2%	28.5%	16.0%	13.3%
Net Profit Margin	26.5%	30.0%	13.1%	9.0%	18.2%	28.5%	14.8%	12.4%
Operating Expense % of Sales	45.8%	30.8%	41.0%	52.2%	32.9%	37.6%	29.6%	40.9%
Returns
Return on Assets (ROA)	20.8%	18.3%	8.8%	3.9%	13.4%	14.4%	16.7%	10.9%
Return on Equity (ROE)	23.2%	19.7%	9.4%	4.2%	17.9%	20.4%	21.0%	11.6%
ROIC [EBIT / Invested Capital]	19.1%	23.6%	9.4%	4.0%	15.1%	21.4%	18.6%	11.9%
Leverage & liquidity
Debt-to-Assets	10.0%	6.8%	6.2%	7.6%	25.1%	9.1%	19.3%	6.0%
Debt-to-Equity	0.11x	0.07x	0.07x	0.08x	0.34x	0.13x	0.24x	0.06x
Debt-to-EBITDA	0.41x	0.25x	0.48x	1.10x	1.87x	0.63x	1.07x	0.51x
Equity-to-Assets	89.5%	93.2%	93.5%	92.4%	74.7%	70.6%	79.5%	94.0%
Net Debt	107	54	-4	193	552	-169	813	205
Cash & Equivalents	209	180	234	87	426	635	101	62
Total Debt	316	234	230	280	978	466	914	267
Efficiency & working capital
Inventory Turnover	N/A	N/A	0.55x	0.25x	0.75x	N/A	N/A	N/A
Days Inventory Outstanding (DIO)	N/A	N/A	660.4	1485.4	486.5	N/A	N/A	N/A
Receivables Turnover	5.70x	4.79x	3.06x	1.88x	3.14x	3.01x	7.37x	3.31x
Days Sales Outstanding (DSO)	64.0	76.3	119.2	193.8	116.4	121.1	49.5	110.2
Payables Turnover	N/A	N/A	N/A	N/A	N/A	0.84x	51.36x	608.68x
Days Payable Outstanding (DPO)	N/A	N/A	N/A	N/A	N/A	433.6	7.1	0.6
Cash Conversion Cycle	64.0 days	76.3 days	779.6 days	1679.2 days	602.9 days	-312.5 days	42.4 days	109.6 days
Asset Turnover	0.79x	0.61x	0.67x	0.43x	0.73x	0.50x	1.13x	0.88x
Cash flow & dividends
Operating Cash Flow	156	-28	2,600	2,028	3,399	4,900	6,639	5,105
Free Cash Flow (OCF − Capex proxy)	156	-28	2,600	2,028	3,399	4,900	6,639	5,105
Cash Conversion (OCF / EBITDA)	20.3%	-3.0%	542.9%	796.7%	650.1%	663.7%	777.7%	974.2%
Dividends Declared	N/A	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	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