Holding Varna AD Balance Sheet Health
Financial Health criteria checks 4/6
Holding Varna AD has a total shareholder equity of BGN216.2M and total debt of BGN192.3M, which brings its debt-to-equity ratio to 89%. Its total assets and total liabilities are BGN450.0M and BGN233.8M respectively. Holding Varna AD's EBIT is BGN6.1M making its interest coverage ratio 0.8. It has cash and short-term investments of BGN69.1M.
Key information
89.0%
Debt to equity ratio
лв192.30m
Debt
| Interest coverage ratio | 0.8x |
| Cash | лв69.11m |
| Equity | лв216.16m |
| Total liabilities | лв233.81m |
| Total assets | лв449.96m |
Recent financial health updates
No updates
Financial Position Analysis
Short Term Liabilities: HVAR's short term assets (BGN116.6M) exceed its short term liabilities (BGN99.1M).
Long Term Liabilities: HVAR's short term assets (BGN116.6M) do not cover its long term liabilities (BGN134.7M).
Debt to Equity History and Analysis
Debt Level: HVAR's net debt to equity ratio (57%) is considered high.
Reducing Debt: HVAR's debt to equity ratio has reduced from 92.1% to 89% over the past 5 years.
Balance Sheet
Cash Runway Analysis
For companies that have on average been loss-making in the past, we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: Whilst unprofitable HVAR has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.
Forecast Cash Runway: HVAR is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 49.8% per year.