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| GEL thousands | 2023¹ | 2024 | 2025 |
|---|---|---|---|
| P&L Items | |||
| Revenue | Register | 23,472 | Register |
| Adj. Operating Profit² | Register | 12,774 | Register |
| Adj. EBITDA² | Register | 16,776 | Register |
| Net Income | Register | 9,789 | Register |
| Margins & Profitability Ratios (%) | |||
| Adj. Operating Profit Margin² | Register | 54.4% | Register |
| Adj. EBITDA Margin² | Register | 71.5% | Register |
| Net Income Margin | Register | 41.7% | Register |
| Balance Sheet Items & Leverage | |||
| Total Assets | Register | 71,579 | Register |
| Total Debt³ | Register | 40,873 | Register |
| Total Debt³ / Adj. EBITDA² | Register | 2.44x | Register |
| Total Equity | Register | 14,391 | Register |
¹ Batumi Grand Mall opened on 1 October 2023; 2023 figures reflect ~3 months of operations.
² Adj. Operating Profit has been adjusted to exclude non-recurring and one-time items. Adj. EBITDA is calculated by adding back D&A expenses to the adjusted operating profit.
³ Total debt includes lease liabilities, where applicable.