ZSE:VLEN Income Statement

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

Millions EUR. 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	98.12	68.26	71.69	82.37	34.2
Other Revenue	1.44	18.45	15.07	1.09	5.26
Revenue	99.56	86.71	86.76	83.46	39.46
Revenue Growth (YoY)	14.82%	-0.06%	3.95%	111.53%	1.09%
Cost of Revenue	70.81	61.68	61.67	51.14	22
Gross Profit	28.74	25.03	25.09	32.32	17.45
Selling, General & Admin	10.32	8.64	7.45	8.66	7.13
Other Operating Expenses	4.91	3.51	4.77	3.53	2.87
Operating Expenses	23.25	19	18.72	24.42	14.58
Operating Income	5.49	6.03	6.37	7.89	2.87
Interest Expense	-0.02	-0.03	-0.05	-0.09	-0.17
Interest & Investment Income	0.09	0.14	0.1	0.03	0.03
Currency Exchange Gain (Loss)	-1.06	0.46	-0.41	0.45	0.34
Other Non Operating Income (Expenses)	0	-	0.01	1.41	-
EBT Excluding Unusual Items	4.51	6.6	6.03	9.69	3.07
Gain (Loss) on Sale of Assets	-	0.01	0.01	0	0
Asset Writedown	-0.01	-0	-0	-0.01	-0.01
Legal Settlements	-	-	-0.25	-1.6	-0.04
Other Unusual Items	-	0.03	-	-	0
Pretax Income	4.5	6.64	5.79	8.1	3.06
Income Tax Expense	0.85	1.21	1.06	2.65	0.56
Earnings From Continuing Operations	3.65	5.43	4.73	5.45	2.51
Minority Interest in Earnings	0.05	-0	-0	-0.03	-0
Net Income	3.7	5.42	4.73	5.42	2.51
Preferred Dividends & Other Adjustments	-0.15	-	-	-	-
Net Income to Common	3.86	5.42	4.73	5.42	2.51
Net Income Growth	-31.69%	14.77%	-12.87%	116.27%	-46.76%
Shares Outstanding (Basic)	16	18	14	16	16
Shares Outstanding (Diluted)	17	18	14	16	16
Shares Change (YoY)	-7.26%	30.07%	-12.87%	-0.13%	0.16%
EPS (Basic)	0.24	0.30	0.34	0.34	0.16
EPS (Diluted)	0.23	0.30	0.34	0.34	0.16
EPS Growth	-23.33%	-11.77%	-	116.55%	-46.84%
Free Cash Flow	-1.03	-2.17	-2.66	14.38	2.29
Free Cash Flow Per Share	-0.06	-0.12	-0.19	0.90	0.14
Dividend Per Share	-	-	-	-	0.156
Gross Margin	28.87%	28.86%	28.92%	38.72%	44.23%
Operating Margin	5.52%	6.95%	7.34%	9.46%	7.27%
Profit Margin	3.87%	6.25%	5.45%	6.50%	6.36%
Free Cash Flow Margin	-1.04%	-2.51%	-3.07%	17.23%	5.81%
EBITDA	13.5	12.83	12.87	19.59	7.45
EBITDA Margin	13.56%	14.79%	14.83%	23.47%	18.89%
D&A For EBITDA	8.01	6.8	6.5	11.69	4.59
EBIT	5.49	6.03	6.37	7.89	2.87
EBIT Margin	5.52%	6.95%	7.34%	9.46%	7.27%
Effective Tax Rate	18.81%	18.27%	18.28%	32.72%	18.16%
Revenue as Reported	99.56	89.73	87.68	85.28	39.82

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