BUL:BSE Cash Flow Statement

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

Millions BGN. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	16.75	16.9	12.52	4.53	6.61	4.34
Depreciation & Amortization	0.59	0.7	0.7	0.69	0.61	0.54
Other Amortization	0.23	0.12	0.12	0.1	0.11	0.11
Other Operating Activities	-104.38	274.57	62.67	-53.15	136.17	62.28
Operating Cash Flow	-86.81	292.29	76.01	-47.82	143.49	67.27
Operating Cash Flow Growth	-	284.53%	-	-	113.30%	70.69%
Capital Expenditures	-11.72	-12.51	-0.08	-0.26	-0.67	-0.22
Sale of Property, Plant & Equipment	-	-	-	0.03	0.04	-
Sale (Purchase) of Intangibles	-0.19	-0.12	-0.16	-0.08	-0.02	-0.03
Investment in Securities	126.81	-321.03	-196.38	0.55	-9.98	-0.18
Other Investing Activities	16.26	10.78	3.91	-0.31	0.07	0.09
Investing Cash Flow	126.76	-322.88	-192.7	-0.07	-10.55	-0.34
Short-Term Debt Issued	-	-	-	-	-	0.02
Total Debt Issued	-	-	-	-	-	0.02
Long-Term Debt Repaid	-	-0.11	-0.1	-0.03	-0.08	-0.14
Net Debt Issued (Repaid)	-0.11	-0.11	-0.1	-0.03	-0.08	-0.12
Issuance of Common Stock	2.18	0.3	-	-	0.41	-
Repurchase of Common Stock	-	-	-	-	-0.85	-0.09
Common Dividends Paid	-5.49	-1.81	-6.25	-2.91	-4	-0.19
Other Financing Activities	-0.12	-0.12	-0.07	-0.12	0.21	0.17
Financing Cash Flow	-3.54	-1.74	-6.42	-3.07	-4.31	-0.22
Miscellaneous Cash Flow Adjustments	-0.01	-0.01	-0.01	-0.04	-0.1	-0.04
Net Cash Flow	36.42	-32.33	-123.12	-51	128.53	66.66
Free Cash Flow	-98.52	279.78	75.93	-48.08	142.82	67.05
Free Cash Flow Growth	-	268.47%	-	-	113.01%	70.63%
Free Cash Flow Margin	-467.62%	1460.68%	427.48%	-278.02%	891.29%	535.83%
Free Cash Flow Per Share	-7.54	21.67	5.89	-4.98	14.68	6.79
Cash Income Tax Paid	1.99	1.91	1.38	0.96	1.05	0.73
Levered Free Cash Flow	27.83	-42.22	-124.27	-49.14	141.45	65.97
Unlevered Free Cash Flow	27.84	-42.21	-124.27	-49.14	141.46	65.97

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.