Telelink Business Services Group AD (BUL:TBS)

BUL:TBS Financials Overview

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

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	125.2	144.94	114.3	94.2	79.31	84.73
Revenue Growth	-14.67%	26.81%	21.33%	18.77%	-6.39%	22.33%
Gross Profit Gross Profit Growth	20.8	31.42	24.42	18.66	15.63	15.07
Operating Income Operating Income Growth	4.45	11.28	7.43	6.16	6.37	7.48
Net Income Net Income Growth	2.49	8.31	5.95	4.83	5.59	6.34
Earnings Per Share EPS Growth	0.20	0.68	0.48	0.39	0.45	0.51
EPS Growth	-	41.87%	23.29%	-13.62%	-11.92%	-1.45%

Revenue by Geography

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Bulgaria Bulgaria Growth	103.98	103.54	68.72	59.69	48.16	50.55
Croatia Croatia Growth	18.26	17.4	14.04	9.91	2.05	0.9
Germany Germany Growth	5.56	2.74	2.47	1.61	0.94	0.85
Slovenia Slovenia Growth	3.67	3.22	2.6	3.78	3.59	5.15
Serbia Serbia Growth	3.96	4.19	7.21	8.63	14.52	11.11
North Macedonia North Macedonia Growth	2.2	1.85	2.85	3	1.39	4.14
Bosnia and Herzegovina Bosnia and Herzegovina Growth	1.24	1.77	1.81	1.82	2.76	2.98
United States of America United States of America Growth	1.43	1.4	1.76	1.42	1.07	0.64
Romania Romania Growth	0.07	0.07	0.59	0.28	0.13	0.08
Other Other Growth	8.69	8.79	12.27	4.05	4.2	7.74
Total Total Growth	149.06	144.94	114.3	94.2	79.31	84.73

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	13.15	25.69	12.8	7.2	7.58	6.55
Total Debt Total Debt Growth	22.44	13.02	13.23	4.21	2.18	2.38
Net Cash (Debt) Net Cash Growth	-9.29	12.66	-0.42	2.99	5.4	4.17
Net Cash Growth	-	-	-	-44.66%	29.53%	57.87%
Net Cash Per Share Net Cash Per Share Growth	-0.76	1.03	-0.03	0.24	0.43	0.33

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	21.61	19.13	10.42	2.12	7.8	7.46
Capital Expenditures CapEx Growth	-2.6	-1.73	-3.29	-1.71	-1.89	-0.62
Free Cash Flow Free Cash Flow Growth	19.02	17.4	7.14	0.41	5.91	6.83
Free Cash Flow Growth	697.54%	143.76%	1621.11%	-92.98%	-13.51%	-34.40%

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Gross Margin	16.61%	21.68%	21.37%	19.81%	19.70%	17.79%
Operating Margin	3.55%	7.78%	6.50%	6.54%	8.03%	8.83%
Pretax Margin	2.67%	6.61%	6.04%	5.94%	7.98%	8.57%
Profit Margin	1.99%	5.73%	5.21%	5.13%	7.04%	7.49%
FCF Margin	15.19%	12.00%	6.24%	0.44%	7.45%	8.06%

Dividends

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Fiscal Year	FY 2022	FY 2021
Period Ending	Dec 31, 2022	Dec 31, 2021
Dividend Per Share Dividend Per Share Growth	0.415	0.419
Dividend Per Share Growth	-1.14%	70.90%
Dividend Yield	7.18%	5.29%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov 14, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	6.88	7.80	9.19	12.23	12.92	15.62
Forward PE	-	10.58	9.94	11.43	11.43	11.43
P/FCF Ratio	7.14	3.73	7.67	142.47	12.21	14.50
PS Ratio	0.47	0.45	0.48	0.63	0.91	1.17

Data Source: S&P Global Market Intelligence Last updated: Nov 5, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Nov 14, 2026

Data Sources Report a data error