Holding Varna AD (BUL: HVAR)

Holding Varna AD Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating Revenue	88.48	84.88	72.28	62.67	47.9	69.94
Other Revenue	0.4	0.4	0.24	-	-	-
Revenue	88.88	85.27	72.52	62.67	47.9	69.94
Revenue Growth (YoY)	19.12%	17.59%	15.72%	30.84%	-31.52%	2.67%
Cost of Revenue	41.32	40.9	39.2	35.28	29.39	42.81
Gross Profit	47.56	44.38	33.32	27.39	18.5	27.12
Selling, General & Admin	30.9	29.96	27.24	17.79	16.12	20.47
Other Operating Expenses	2.49	1.95	-2.6	-2.52	-1.27	2.45
Operating Expenses	39.9	38.58	31.01	23.21	26.52	30.31
Operating Income	7.66	5.79	2.31	4.18	-8.02	-3.19
Interest Expense	-9.03	-8.18	-5.74	-6.21	-7.18	-8.27
Interest & Investment Income	1.21	1.28	1.25	1.58	2.28	2.45
Earnings From Equity Investments	-1.09	-1.09	-0.62	-0.09	-0.05	-0.01
Currency Exchange Gain (Loss)	0.01	0.01	-0.08	-0.05	0.04	-0.03
Other Non Operating Income (Expenses)	0.71	0.7	-0.24	-0.61	0.9	0.27
EBT Excluding Unusual Items	-0.54	-1.48	-3.12	-1.19	-12.02	-8.78
Impairment of Goodwill	-	-	-	-	-	-0.21
Gain (Loss) on Sale of Investments	3.21	3.21	1.11	2.44	0.79	1.59
Gain (Loss) on Sale of Assets	0.09	0.09	0.03	1.75	0.04	3.98
Asset Writedown	-0.89	-0.89	3.5	-0.31	0.29	0.94
Legal Settlements	-	-	-	-	-	-0.03
Other Unusual Items	0.18	0.18	0.04	0.21	0.34	0.57
Pretax Income	2.05	1.11	1.56	2.89	-10.57	-1.93
Income Tax Expense	0.87	0.85	0.31	0.49	-0.58	0.87
Earnings From Continuing Operations	1.18	0.26	1.26	2.4	-9.99	-2.8
Minority Interest in Earnings	0.87	0.84	1.19	-0.61	4.23	2.38
Net Income	2.06	1.1	2.44	1.79	-5.76	-0.42
Net Income to Common	2.06	1.1	2.44	1.79	-5.76	-0.42
Net Income Growth	141.48%	-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%	19.88%
EPS (Basic)	0.32	0.17	0.38	0.28	-0.89	-0.07
EPS (Diluted)	0.32	0.17	0.38	0.28	-0.89	-0.07
EPS Growth	141.48%	-55.06%	36.37%	-	-	-
Free Cash Flow	11.09	2.7	-2.35	-3.88	0.56	-13.69
Free Cash Flow Per Share	1.71	0.42	-0.36	-0.60	0.09	-2.18
Gross Margin	53.51%	52.04%	45.95%	43.71%	38.63%	38.78%
Operating Margin	8.61%	6.79%	3.19%	6.67%	-16.74%	-4.56%
Profit Margin	2.31%	1.29%	3.37%	2.86%	-12.03%	-0.60%
Free Cash Flow Margin	12.47%	3.17%	-3.24%	-6.20%	1.17%	-19.57%
EBITDA	12.66	10.97	7.42	9.31	-2.52	2.57
EBITDA Margin	14.24%	12.86%	10.23%	14.86%	-5.25%	3.67%
D&A For EBITDA	5	5.17	5.1	5.14	5.5	5.75
EBIT	7.66	5.79	2.31	4.18	-8.02	-3.19
EBIT Margin	8.61%	6.79%	3.19%	6.67%	-16.74%	-4.56%
Effective Tax Rate	42.33%	76.80%	19.64%	17.02%	-	-
Advertising Expenses	-	-	-	3.5	3.18	4.04

Source: S&P Capital IQ. Standard template. Financial Sources.