/
| GEL thousands | 2022¹ | 2023 | 2024 |
|---|---|---|---|
| P&L Items | |||
| Revenue | 10,967 | Register | Register |
| Adj. Operating Profit² | 5,252 | Register | Register |
| Adj. EBITDA² | 5,785 | Register | Register |
| Net Income | 4,107 | Register | Register |
| Margins & Profitability Ratios (%) | |||
| Adj. Operating Profit Margin² | 47.9% | Register | Register |
| Adj. EBITDA Margin² | 52.7% | Register | Register |
| Net Income Margin | 37.4% | Register | Register |
| Balance Sheet Items & Leverage | |||
| Total Assets | 18,849 | Register | Register |
| Total Equity | 15,683 | Register | Register |
| ROAE | 32.9% | Register | Register |
¹ The 2022 income statement is as originally filed. The FY2024 filing changed how tuition revenue is recognised (over the semester, none on inactive students) and restated 2023 revenue and the end-2022 balance sheet, lowering end-2022 retained earnings by GEL 4.7m.
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.