BUL:TBS 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
Revenue	283.25	222.97	184.25	155.16	165.69
Revenue Growth (YoY)	27.03%	21.01%	18.75%	-6.35%	22.28%
Cost of Revenue	122.81	175.33	147.75	124.59	136.22
Gross Profit	160.44	47.64	36.5	30.57	29.47
Selling, General & Admin	96.54	34.14	24.79	18.2	14.92
Other Operating Expenses	34	-0.99	-0.35	-0.09	-0.07
Operating Expenses	137.75	33.15	24.45	18.11	14.85
Operating Income	22.69	14.5	12.06	12.46	14.62
Interest Expense	-1.06	-1.15	-0.48	-0.17	-0.23
Interest & Investment Income	-	-	-	0.04	0
Currency Exchange Gain (Loss)	-1.75	0.09	-0.39	0.31	0.12
Other Non Operating Income (Expenses)	-0.57	-0.36	-0.24	-0.26	-0.26
EBT Excluding Unusual Items	19.32	13.07	10.94	12.38	14.26
Gain (Loss) on Sale of Assets	-	0.35	0	0	0
Other Unusual Items	-0.34	0.03	0.01	-	-0.07
Pretax Income	18.98	13.46	10.95	12.38	14.2
Income Tax Expense	2.46	1.83	1.45	1.45	1.79
Earnings From Continuing Operations	16.52	11.62	9.5	10.93	12.41
Earnings From Discontinued Operations	-	-0.01	-0.05	-	-
Net Income	16.52	11.62	9.44	10.93	12.41
Net Income to Common	16.52	11.62	9.44	10.93	12.41
Net Income Growth	42.22%	22.99%	-13.61%	-11.89%	-1.53%
Shares Outstanding (Basic)	12	12	12	12	12
Shares Outstanding (Diluted)	12	12	12	12	12
Shares Change (YoY)	-1.60%	0.02%	0.03%	-0.01%	-0.04%
EPS (Basic)	1.34	0.93	0.76	0.88	0.99
EPS (Diluted)	1.34	0.93	0.76	0.88	0.99
EPS Growth	44.53%	22.97%	-13.64%	-11.88%	-1.49%
Free Cash Flow	31.6	13.92	0.81	11.56	13.36
Free Cash Flow Per Share	2.57	1.11	0.07	0.93	1.07
Dividend Per Share	-	-	-	0.811	0.820
Dividend Growth	-	-	-	-1.10%	70.83%
Gross Margin	56.64%	21.37%	19.81%	19.70%	17.79%
Operating Margin	8.01%	6.50%	6.54%	8.03%	8.83%
Profit Margin	5.83%	5.21%	5.13%	7.04%	7.49%
Free Cash Flow Margin	11.16%	6.24%	0.44%	7.45%	8.06%
EBITDA	29.9	17.53	14.05	13.69	15.74
EBITDA Margin	10.55%	7.86%	7.63%	8.82%	9.50%
D&A For EBITDA	7.21	3.03	1.99	1.23	1.11
EBIT	22.69	14.5	12.06	12.46	14.62
EBIT Margin	8.01%	6.50%	6.54%	8.03%	8.83%
Effective Tax Rate	12.95%	13.63%	13.26%	11.72%	12.61%
Revenue as Reported	283.88	-	-	-	-
Advertising Expenses	-	19.07	14.05	10.61	8.49

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