Main figures
Below is a table showing main figures and key ratios based on audited consolidated financial statements of GSE. Amounts are given in thousand Lari’s.
| Main figures | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|---|---|
| Operating revenues | 104 341 | 120 159 | 133 370 | 227 050 | 235 010 | 181 865 | 297 224 |
| EBITDA * | 69 237 | 73 570 | 91 851 | 112 669 | 142 123 | 106 533 | 195 188 |
| Depreciation and amortization | -50 350 | -51 801 | -56 010 | -46 924 | -45 121 | -47 362 | -64 526 |
| Operating profit | 18 887 | 21 769 | 35 841 | 65 745 | 97 002 | 59 171 | 130 662 |
| Financing costs (incl. foreign exchange revaluation) | -136 695 | -96 756 | -108 792 | -26 739 | -80 852 | -260 514 | 97 495 |
| Profit before tax | -115 169 | -71 773 | -70 207 | 46 785 | 30 745 | -37 516 | 234 794 |
| Net profit for the period (comprehensive income) | -113 332 | -79 737 | -70 247 | 46 743 | 30 702 | -47 866 | 234 661 |
| Total assets | 1 144 497 | 1 272 345 | 1 101 540 | 1 129 965 | 1 172 268 | 1 386 631 | 1 490 333 |
* Operating profit plus Depreciation and Amortisation
| Key ratios | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|---|---|
| Return on capital employed before tax | -11% | -6% | -12% | 9% | 3% | -3% | 19% |
| Return on equity after tax | -74% | -77% | -40% | 37% | 37% | -51% | 155% |
| Equity share | 13% | 8% | 16% | 11% | 7% | 7% | 10% |
| EBITDA margin | 66% | 61% | 69% | 50% | 60% | 59% | 66% |
| Asset turnover | 9% | 9% | 12% | 20% | 20% | 13% | 20% |
Definition of key ratios:
Return on capital employed before tax = Profit before tax / (Total assets – Current liabilities)
Return on equity after tax = Net profit for the period / Total equity
Equity share = Equity / Total assets
EBITDA margin = EBITDA / Operating revenues
Asset turnover = Operating revenues / Total assets
