BUL:BSE 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	22.23	19.1	17.71	17.26	16.02
Other Revenue	0.08	0.05	0.05	0.04	-
Revenue	22.3	19.15	17.76	17.3	16.02
Revenue Growth (YoY)	16.43%	7.84%	2.70%	7.93%	28.06%
Cost of Revenue	0.09	0.17	0.1	0.19	0.21
Gross Profit	22.21	18.98	17.66	17.1	15.82
Selling, General & Admin	12.74	11.9	10.22	8.39	7.29
Other Operating Expenses	0.48	-0.09	0.17	-0.05	-0.05
Operating Expenses	14.06	12.63	11.22	12.09	8.63
Operating Income	8.15	6.35	6.45	5.01	7.18
Interest Expense	-0.01	-0.01	-0.01	-	-0.01
Interest & Investment Income	12.53	14.32	8.56	0.66	0.17
Earnings From Equity Investments	0.11	0.05	0.08	0.01	0.01
Currency Exchange Gain (Loss)	-0.01	-0.01	-0	-0.05	-0
Other Non Operating Income (Expenses)	-1.26	-1.15	-1.31	-0.52	-
EBT Excluding Unusual Items	19.52	19.55	13.76	5.1	7.36
Gain (Loss) on Sale of Investments	-	-0.05	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	0.02	0.03
Legal Settlements	-1.52	-0.64	0.24	-	-
Other Unusual Items	0.01	-	-	0	0.01
Pretax Income	18.01	18.86	14	5.13	7.41
Income Tax Expense	1.81	1.96	1.48	0.6	0.8
Net Income	16.2	16.9	12.52	4.53	6.61
Net Income to Common	16.2	16.9	12.52	4.53	6.61
Net Income Growth	-4.16%	34.97%	176.22%	-31.37%	52.33%
Shares Outstanding (Basic)	13	13	13	10	10
Shares Outstanding (Diluted)	13	13	13	10	10
Shares Change (YoY)	1.97%	0.23%	33.33%	-0.72%	-1.44%
EPS (Basic)	1.23	1.31	0.97	0.47	0.68
EPS (Diluted)	1.23	1.31	0.97	0.47	0.68
EPS Growth	-6.01%	34.66%	107.16%	-30.88%	54.56%
Free Cash Flow	-162.97	279.78	75.93	-48.08	142.82
Free Cash Flow Per Share	-12.38	21.67	5.89	-4.98	14.68
Dividend Per Share	-	0.450	0.197	0.693	0.688
Dividend Growth	-	128.08%	-71.54%	0.71%	1191.56%
Gross Margin	99.58%	99.10%	99.45%	98.88%	98.71%
Operating Margin	36.54%	33.15%	36.30%	28.96%	44.83%
Profit Margin	72.63%	88.23%	70.49%	26.21%	41.22%
Free Cash Flow Margin	-730.74%	1460.68%	427.48%	-278.02%	891.29%
EBITDA	8.72	6.94	7.04	5.61	7.7
EBITDA Margin	39.09%	36.22%	39.64%	32.42%	48.02%
D&A For EBITDA	0.57	0.59	0.59	0.6	0.51
EBIT	8.15	6.35	6.45	5.01	7.18
EBIT Margin	36.54%	33.15%	36.30%	28.96%	44.83%
Effective Tax Rate	10.05%	10.38%	10.54%	11.60%	10.84%
Advertising Expenses	0.23	0.13	0.12	0.08	0.11

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