Holding Varna AD (BUL:HVAR)

Holding Varna AD Cash Flow 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	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	9.5	1.69	1.1	2.44	1.79	-5.76
Depreciation & Amortization	6.55	6.3	6.51	6.37	6.61	7.13
Other Amortization	0.03	0.03	0.02	0.03	0.21	0.15
Other Operating Activities	7.27	37.01	0.49	-6.63	-3.12	6.34
Operating Cash Flow	23.34	45.02	8.12	2.21	5.5	7.85
Operating Cash Flow Growth	66.49%	454.61%	267.95%	-59.88%	-29.96%	4.29%
Capital Expenditures	-13.7	-6.85	-5.41	-4.56	-9.38	-7.29
Sale of Property, Plant & Equipment	0.25	0.25	0.09	-	0.57	0.88
Divestitures	-	-	-	-	0.27	-
Sale (Purchase) of Intangibles	-0.89	-0.89	-0.78	-0.69	-0.65	-0.64
Sale (Purchase) of Real Estate	-	-	-	-	-3.61	-
Investment in Securities	7.53	6.47	4.28	15.11	11.84	6.88
Other Investing Activities	1.98	0.53	0.55	0.91	0.16	1.05
Investing Cash Flow	-5.63	3.85	-0.05	9.66	-4.58	6.88
Long-Term Debt Issued	-	95.64	94.8	101.47	120.7	48.48
Long-Term Debt Repaid	-	-101.83	-94.36	-108.56	-116.52	-54.84
Net Debt Issued (Repaid)	-4.64	-6.2	0.43	-7.08	4.18	-6.36
Other Financing Activities	-8.26	-7	-8.85	-3.94	-1.2	-5.94
Financing Cash Flow	-14.9	-13.19	-8.41	-11.02	2.97	-12.29
Foreign Exchange Rate Adjustments	-0.01	-0.01	-0	-0.01	-0	-0.01
Net Cash Flow	2.8	35.67	-0.35	0.84	3.89	2.43
Free Cash Flow	9.64	38.17	2.71	-2.35	-3.88	0.56
Free Cash Flow Growth	-13.11%	1309.97%	-	-	-	-
Free Cash Flow Margin	9.66%	44.77%	3.19%	-3.24%	-6.20%	1.17%
Free Cash Flow Per Share	1.49	5.88	0.42	-0.36	-0.60	0.09
Cash Interest Paid	10.04	8.65	8.45	5.94	5.69	7.01
Cash Income Tax Paid	6.84	6.84	2.42	4.52	6.26	5.21
Levered Free Cash Flow	18.53	35.14	9.3	5.43	-0.99	-27.09
Unlevered Free Cash Flow	23.2	40.5	14.41	9.02	2.89	-22.61

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