Billboard AD Income Statement

Financials in millions BGN. Fiscal year is January - December.

Millions BGN. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Revenue	36.95	38.7	36.67	38.08	30.93
Other Revenue	0.17	0.11	-	-	0.17
Revenue	37.12	38.8	36.67	38.08	31.1
Revenue Growth (YoY)	-4.33%	5.83%	-3.72%	22.46%	8.96%
Cost of Revenue	16.87	19.67	19.38	22.38	17.64
Gross Profit	20.25	19.14	17.29	15.7	13.46
Selling, General & Admin	15.06	14.05	12.78	12.26	12.05
Other Operating Expenses	-0.07	-0.05	-0.13	-0.78	-2.35
Operating Expenses	17.48	16.42	15	13.66	11.81
Operating Income	2.77	2.72	2.29	2.04	1.66
Interest Expense	-0.31	-0.35	-0.39	-0.35	-0.51
Interest & Investment Income	0.02	0.04	0.03	0.01	0.02
Currency Exchange Gain (Loss)	-0	-0	-0.01	-0	-0.01
Other Non Operating Income (Expenses)	-0.1	-0.23	-0.06	-0.19	0.22
EBT Excluding Unusual Items	2.39	2.17	1.86	1.51	1.38
Gain (Loss) on Sale of Assets	0.29	0.01	0.01	-0.08	0.01
Asset Writedown	-0.04	-0.03	0.88	-0.06	-0.79
Other Unusual Items	0.02	0	-	0.01	0
Pretax Income	2.7	2.16	2.81	1.37	0.64
Income Tax Expense	0.3	0.25	0.29	0.17	0.12
Earnings From Continuing Operations	2.4	1.91	2.52	1.2	0.52
Minority Interest in Earnings	-0.32	-0.37	-0.68	-0.36	-0.2
Net Income	2.08	1.53	1.83	0.84	0.32
Net Income to Common	2.08	1.53	1.83	0.84	0.32
Net Income Growth	35.70%	-16.42%	118.73%	160.25%	198.15%
Shares Outstanding (Basic)	15	15	15	15	15
Shares Outstanding (Diluted)	15	15	15	15	15
EPS (Basic)	0.14	0.10	0.12	0.06	0.02
EPS (Diluted)	0.14	0.10	0.12	0.06	0.02
EPS Growth	35.70%	-16.42%	118.74%	160.25%	198.14%
Free Cash Flow	-0.65	1.29	3.82	2.27	2.85
Free Cash Flow Per Share	-0.04	0.09	0.26	0.15	0.19
Gross Margin	54.54%	49.32%	47.15%	41.23%	43.29%
Operating Margin	7.45%	7.00%	6.24%	5.35%	5.33%
Profit Margin	5.60%	3.95%	5.00%	2.20%	1.03%
Free Cash Flow Margin	-1.76%	3.33%	10.43%	5.96%	9.16%
EBITDA	5.24	5.12	4.63	4.21	3.75
EBITDA Margin	14.12%	13.19%	12.64%	11.06%	12.05%
D&A For EBITDA	2.48	2.4	2.35	2.17	2.09
EBIT	2.77	2.72	2.29	2.04	1.66
EBIT Margin	7.45%	7.00%	6.24%	5.35%	5.33%
Effective Tax Rate	10.97%	11.64%	10.27%	12.35%	18.43%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.