Holding Varna AD Balance Sheet Health
Financial Health criteria checks 2/6
Holding Varna AD has a total shareholder equity of BGN224.6M and total debt of BGN199.9M, which brings its debt-to-equity ratio to 89%. Its total assets and total liabilities are BGN461.1M and BGN236.5M respectively. Holding Varna AD's EBIT is BGN4.6M making its interest coverage ratio 0.7. It has cash and short-term investments of BGN44.3M.
Key information
89.0%
Debt to equity ratio
лв199.89m
Debt
Interest coverage ratio | 0.7x |
Cash | лв44.29m |
Equity | лв224.58m |
Total liabilities | лв236.50m |
Total assets | лв461.08m |
Recent financial health updates
No updates
Financial Position Analysis
Short Term Liabilities: HVAR's short term assets (BGN123.7M) exceed its short term liabilities (BGN92.3M).
Long Term Liabilities: HVAR's short term assets (BGN123.7M) do not cover its long term liabilities (BGN144.2M).
Debt to Equity History and Analysis
Debt Level: HVAR's net debt to equity ratio (69.3%) is considered high.
Reducing Debt: HVAR's debt to equity ratio has reduced from 95.9% to 89% over the past 5 years.
Debt Coverage: HVAR's debt is not well covered by operating cash flow (0.2%).
Interest Coverage: HVAR's interest payments on its debt are not well covered by EBIT (0.7x coverage).