Holding Varna AD (BUL:HVAR)

Holding Varna AD Income Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Revenue	1.27	85.25	84.88	72.28	62.67
Other Revenue	0.01	-	-	0.24	-
Revenue	1.28	85.25	84.88	72.52	62.67
Revenue Growth (YoY)	-98.50%	0.44%	17.04%	15.72%	30.84%
Cost of Revenue	0.6	48.61	49.69	46.55	35.28
Gross Profit	0.68	36.63	35.18	25.97	27.39
Selling, General & Admin	0.71	23.67	21.16	19.89	17.79
Other Operating Expenses	-3.96	0.41	1.55	-2.6	-2.52
Operating Expenses	-2.74	29.46	29.39	23.66	23.21
Operating Income	3.42	7.18	5.79	2.31	4.18
Interest Expense	-1.39	-8.58	-8.18	-5.74	-6.21
Interest & Investment Income	2.42	1.3	1.28	1.25	1.58
Earnings From Equity Investments	-	0.12	-1.09	-0.62	-0.09
Currency Exchange Gain (Loss)	-	-0.14	0.01	-0.08	-0.05
Other Non Operating Income (Expenses)	0.19	-0.39	0.7	-0.24	-0.61
EBT Excluding Unusual Items	4.65	-0.51	-1.48	-3.12	-1.19
Impairment of Goodwill	-	-0.31	-	-	-
Gain (Loss) on Sale of Investments	-	3.07	3.21	1.11	2.44
Gain (Loss) on Sale of Assets	-	-0.48	0.09	0.03	1.75
Asset Writedown	-	0.35	-0.89	3.5	-0.31
Other Unusual Items	-	0.32	0.18	0.04	0.21
Pretax Income	4.65	2.45	1.11	1.56	2.89
Income Tax Expense	0.4	0.25	0.85	0.31	0.49
Earnings From Continuing Operations	4.25	2.2	0.26	1.26	2.4
Minority Interest in Earnings	-	-0.51	0.84	1.19	-0.61
Net Income	4.25	1.69	1.1	2.44	1.79
Net Income to Common	4.25	1.69	1.1	2.44	1.79
Net Income Growth	152.16%	53.78%	-55.06%	36.37%	-
Shares Outstanding (Basic)	6	6	6	6	6
Shares Outstanding (Diluted)	6	6	6	6	6
Shares Change (YoY)	0.00%	-	-	-	0.20%
EPS (Basic)	0.66	0.26	0.17	0.38	0.28
EPS (Diluted)	0.66	0.26	0.17	0.38	0.28
EPS Growth	152.16%	53.78%	-55.06%	36.37%	-
Free Cash Flow	-14.71	38.17	2.71	-2.35	-3.88
Free Cash Flow Per Share	-2.27	5.88	0.42	-0.36	-0.60
Gross Margin	53.48%	42.97%	41.45%	35.82%	43.71%
Operating Margin	267.71%	8.42%	6.83%	3.19%	6.67%
Profit Margin	332.60%	1.98%	1.29%	3.37%	2.86%
Free Cash Flow Margin	-1150.04%	44.77%	3.19%	-3.24%	-6.20%
EBITDA	3.94	12.54	10.97	7.42	9.31
EBITDA Margin	307.74%	14.71%	12.92%	10.23%	14.86%
D&A For EBITDA	0.51	5.37	5.17	5.1	5.14
EBIT	3.42	7.18	5.79	2.31	4.18
EBIT Margin	267.71%	8.42%	6.83%	3.19%	6.67%
Effective Tax Rate	8.52%	10.13%	76.80%	19.64%	17.02%
Revenue as Reported	8.11	-	-	-	-
Advertising Expenses	-	6.84	4.8	-	3.5

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