Holding Varna AD (BUL:HVAR)

Holding Varna AD Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating Revenue	98.1	85.25	84.88	72.28	62.67	47.9
Other Revenue	0.11	-	-	0.24	-	-
Revenue	98.2	85.25	84.88	72.52	62.67	47.9
Revenue Growth (YoY)	14.45%	0.44%	17.04%	15.72%	30.84%	-31.52%
Cost of Revenue	55.92	48.61	49.69	46.55	35.28	29.39
Gross Profit	42.28	36.63	35.18	25.97	27.39	18.5
Selling, General & Admin	23.74	23.67	21.16	19.89	17.79	16.12
Other Operating Expenses	0.45	0.41	1.55	-2.6	-2.52	-1.27
Operating Expenses	29.65	29.46	29.39	23.66	23.21	26.52
Operating Income	12.63	7.18	5.79	2.31	4.18	-8.02
Interest Expense	-7.92	-8.58	-8.18	-5.74	-6.21	-7.18
Interest & Investment Income	1.21	1.3	1.28	1.25	1.58	2.28
Earnings From Equity Investments	0.02	0.12	-1.09	-0.62	-0.09	-0.05
Currency Exchange Gain (Loss)	-0.14	-0.14	0.01	-0.08	-0.05	0.04
Other Non Operating Income (Expenses)	-0.19	-0.39	0.7	-0.24	-0.61	0.9
EBT Excluding Unusual Items	5.62	-0.51	-1.48	-3.12	-1.19	-12.02
Impairment of Goodwill	1.25	-0.31	-	-	-	-
Gain (Loss) on Sale of Investments	3.07	3.07	3.21	1.11	2.44	0.79
Gain (Loss) on Sale of Assets	-0.02	-0.48	0.09	0.03	1.75	0.04
Asset Writedown	2.33	0.35	-0.89	3.5	-0.31	0.29
Other Unusual Items	0.32	0.32	0.18	0.04	0.21	0.34
Pretax Income	12.56	2.45	1.11	1.56	2.89	-10.57
Income Tax Expense	0.34	0.25	0.85	0.31	0.49	-0.58
Earnings From Continuing Operations	12.22	2.2	0.26	1.26	2.4	-9.99
Minority Interest in Earnings	-3.59	-0.51	0.84	1.19	-0.61	4.23
Net Income	8.64	1.69	1.1	2.44	1.79	-5.76
Net Income to Common	8.64	1.69	1.1	2.44	1.79	-5.76
Net Income Growth	-	53.78%	-55.06%	36.37%	-	-
Shares Outstanding (Basic)	6	6	6	6	6	6
Shares Outstanding (Diluted)	6	6	6	6	6	6
Shares Change (YoY)	-	-	-	-	0.20%	3.12%
EPS (Basic)	1.33	0.26	0.17	0.38	0.28	-0.89
EPS (Diluted)	1.33	0.26	0.17	0.38	0.28	-0.89
EPS Growth	-	53.78%	-55.06%	36.37%	-	-
Free Cash Flow	9.58	38.17	2.71	-2.35	-3.88	0.56
Free Cash Flow Per Share	1.48	5.88	0.42	-0.36	-0.60	0.09
Gross Margin	43.06%	42.97%	41.45%	35.82%	43.71%	38.63%
Operating Margin	12.86%	8.42%	6.83%	3.19%	6.67%	-16.74%
Profit Margin	8.79%	1.98%	1.29%	3.37%	2.86%	-12.03%
Free Cash Flow Margin	9.75%	44.77%	3.19%	-3.24%	-6.20%	1.17%
EBITDA	17.58	12.54	10.97	7.42	9.31	-2.52
EBITDA Margin	17.91%	14.71%	12.92%	10.23%	14.86%	-5.25%
D&A For EBITDA	4.95	5.37	5.17	5.1	5.14	5.5
EBIT	12.63	7.18	5.79	2.31	4.18	-8.02
EBIT Margin	12.86%	8.42%	6.83%	3.19%	6.67%	-16.74%
Effective Tax Rate	2.68%	10.13%	76.80%	19.64%	17.02%	-
Advertising Expenses	-	6.84	4.8	-	3.5	3.18

Source: S&P Global Market Intelligence. Standard template. Financial Sources.