Smart Organic AD Income Statement

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

Millions BGN. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Revenue	116.16	92.27	80.98	56.77	47.48
Other Revenue	0.9	-	-	-	-
Revenue	117.07	92.27	80.98	56.77	47.48
Revenue Growth (YoY)	26.87%	13.95%	42.64%	19.57%	28.77%
Cost of Revenue	50.94	45.95	41.58	30.26	24.44
Gross Profit	66.12	46.32	39.39	26.51	23.03
Selling, General & Admin	30.57	27.34	22.02	14.58	12.1
Other Operating Expenses	1.44	0.21	0.94	0.38	1.06
Operating Expenses	35.76	30.4	25.84	17.22	15.14
Operating Income	30.36	15.93	13.55	9.29	7.89
Interest Expense	-0.4	-0.28	-0.14	-0.08	-0.11
Interest & Investment Income	-	0.07	0.02	0	0
Earnings From Equity Investments	-	-0	0.01	-0.02	-0
Currency Exchange Gain (Loss)	-0.57	0.06	-0.03	-0.03	-0
Other Non Operating Income (Expenses)	-	-0.05	-0.08	-0.09	-0.11
EBT Excluding Unusual Items	29.4	15.71	13.33	9.08	7.67
Gain (Loss) on Sale of Investments	-	0.16	0.02	-	-
Gain (Loss) on Sale of Assets	-14.13	-	0.1	0.01	-
Other Unusual Items	-	0.13	0.1	0.03	0
Pretax Income	15.26	16	13.56	9.13	7.67
Income Tax Expense	1.56	1.77	1.53	0.96	0.78
Earnings From Continuing Operations	13.71	14.24	12.03	8.17	6.89
Minority Interest in Earnings	-	-0.04	-0.03	0.03	-
Net Income	13.71	14.2	12	8.19	6.89
Net Income to Common	13.71	14.2	12	8.19	6.89
Net Income Growth	-3.48%	18.36%	46.46%	18.91%	37.18%
Shares Outstanding (Basic)	11	11	10	10	4
Shares Outstanding (Diluted)	11	11	10	10	4
Shares Change (YoY)	4.87%	4.89%	-	189.81%	137.16%
EPS (Basic)	1.21	1.31	1.16	0.79	1.94
EPS (Diluted)	1.21	1.31	1.16	0.79	1.94
EPS Growth	-7.96%	12.84%	46.46%	-58.97%	-42.16%
Free Cash Flow	-16.13	-8.12	0.48	-3.55	1.03
Free Cash Flow Per Share	-1.42	-0.75	0.05	-0.34	0.29
Dividend Per Share	-	0.240	0.220	0.200	-
Dividend Growth	-	9.09%	10.00%	-	-
Gross Margin	56.48%	50.20%	48.65%	46.70%	48.51%
Operating Margin	25.93%	17.26%	16.74%	16.36%	16.62%
Profit Margin	11.71%	15.39%	14.82%	14.43%	14.51%
Free Cash Flow Margin	-13.78%	-8.80%	0.59%	-6.26%	2.17%
EBITDA	34.11	18.15	15.53	10.77	9.05
EBITDA Margin	29.14%	19.67%	19.17%	18.98%	19.06%
D&A For EBITDA	3.75	2.22	1.97	1.48	1.16
EBIT	30.36	15.93	13.55	9.29	7.89
EBIT Margin	25.93%	17.26%	16.74%	16.36%	16.62%
Effective Tax Rate	10.20%	11.04%	11.30%	10.52%	10.18%
Advertising Expenses	-	2.03	1.45	1.05	0.79

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.