Holding Varna AD Balance Sheet

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
Cash & Equivalents	14.89	48.27	12.6	12.95	12.11	8.22
Short-Term Investments	-	16.96	25.43	23.92	34.31	37.83
Trading Asset Securities	37.8	37.22	33.3	29.93	36.86	33.99
Cash & Short-Term Investments	52.68	102.45	71.34	66.81	83.28	80.05
Cash Growth	12.22%	43.62%	6.78%	-19.79%	4.04%	0.74%
Accounts Receivable	14.68	18.99	25.08	25.76	36.51	41.12
Other Receivables	2.69	0.64	0.22	1.35	-0.7	1.68
Receivables	31.87	19.64	25.31	27.11	35.82	42.8
Inventory	14.56	19.97	15.52	9.96	2.73	1.42
Other Current Assets	2.1	2.88	2.82	15.38	17.56	16.49
Total Current Assets	101.22	144.94	114.99	119.25	139.39	140.76
Property, Plant & Equipment	225.19	211.43	208.23	209.94	212.79	212.56
Long-Term Investments	5.59	28.59	26.14	24.85	17.21	17.59
Goodwill	36.69	36.69	36.99	36.98	38.13	38.13
Other Intangible Assets	20.57	20.02	19.17	18.51	17.94	19.49
Long-Term Deferred Tax Assets	3.82	3.19	3.36	3.03	2.72	2.51
Other Long-Term Assets	44.56	40.3	43.26	43.43	38.52	35.02
Total Assets	461.46	485.17	452.13	456	466.69	466.06
Accounts Payable	15.29	8.97	10.02	8.87	6.64	8.43
Accrued Expenses	3.67	5	4.36	4.18	3.44	4.09
Short-Term Debt	-	9.24	8.21	22.23	23.08	26.59
Current Portion of Long-Term Debt	64.59	66.02	62.04	55.63	63.42	61.38
Current Portion of Leases	-	0.36	0.91	1.53	1.49	1.6
Current Income Taxes Payable	0.07	0.34	0.33	0.22	0.32	0.17
Current Unearned Revenue	-	1.44	0.66	0.54	0.8	0.97
Other Current Liabilities	14.74	39.57	3.68	3.6	3.45	2.11
Total Current Liabilities	98.37	130.94	90.22	96.81	102.63	105.33
Long-Term Debt	109.81	122.29	133.96	132.92	137.66	135.22
Long-Term Leases	-	0.52	0.34	1.14	2.17	3.39
Pension & Post-Retirement Benefits	-	0.38	0.29	0.22	0.24	0.18
Long-Term Deferred Tax Liabilities	3.21	3.01	3.44	2.82	2.45	2.19
Other Long-Term Liabilities	9.31	1.47	1.47	0	-	0.63
Total Liabilities	220.7	258.61	229.71	233.91	245.15	246.93
Common Stock	6.49	6.49	6.49	6.49	6.49	6.49
Additional Paid-In Capital	156.82	-	-	-	156.82	156.82
Retained Earnings	27.28	14.8	16.18	15.26	17.3	17.5
Comprehensive Income & Other	6.55	165.73	165.23	164.98	4.17	2.16
Total Common Equity	197.13	187.02	187.89	186.73	184.77	182.96
Minority Interest	43.63	39.55	34.53	35.36	36.78	36.17
Shareholders' Equity	240.76	226.56	222.42	222.09	221.54	219.13
Total Liabilities & Equity	461.46	485.17	452.13	456	466.69	466.06
Total Debt	174.4	198.43	205.46	213.45	227.82	228.17
Net Cash (Debt)	-121.72	-95.98	-134.13	-146.65	-144.53	-148.12
Net Cash Per Share	-18.77	-14.80	-20.68	-22.61	-22.28	-22.88
Filing Date Shares Outstanding	6.49	6.49	6.49	6.49	6.49	6.49
Total Common Shares Outstanding	6.49	6.49	6.49	6.49	6.49	6.49
Working Capital	2.86	14	24.76	22.45	36.76	35.43
Book Value Per Share	30.39	28.83	28.97	28.79	28.49	28.21
Tangible Book Value	139.87	130.3	131.73	131.24	128.69	125.35
Tangible Book Value Per Share	21.57	20.09	20.31	20.23	19.84	19.33
Land	-	45.31	45.19	45.22	45.81	45.81
Buildings	-	117.57	113.04	105.84	106.18	106.17
Machinery	-	104.5	101.57	92.51	91.34	90.49

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