Duyuru • May 20
Telematic Interactive Bulgaria AD, Annual General Meeting, Jun 25, 2026 Telematic Interactive Bulgaria AD, Annual General Meeting, Jun 25, 2026. New Risk • May 11
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 9.2% Last year net profit margin: 14% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 3.6% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (9.2% net profit margin). Upcoming Dividend • Apr 01
Upcoming dividend of €0.18 per share Eligible shareholders must have bought the stock before 08 April 2026. Payment date: 21 April 2026. Trailing yield: 4.0%. Lower than top quartile of Bulgarian dividend payers (4.9%). Higher than average of industry peers (3.4%). New Risk • Jan 01
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Bulgarian stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 1.5% per year over the past 5 years. High level of non-cash earnings (24% accrual ratio). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Dec 03
Third quarter 2025 earnings released: EPS: лв0.23 (vs лв0.38 in 3Q 2024) Third quarter 2025 results: EPS: лв0.23 (down from лв0.38 in 3Q 2024). Revenue: лв34.2m (flat on 3Q 2024). Net income: лв2.93m (down 41% from 3Q 2024). Profit margin: 8.6% (down from 15% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Upcoming Dividend • Oct 01
Upcoming dividend of лв0.28 per share Eligible shareholders must have bought the stock before 08 October 2025. Payment date: 20 October 2025. Payout ratio is on the higher end at 76%, and the cash payout ratio is above 100%. Trailing yield: 6.5%. Within top quartile of Bulgarian dividend payers (4.5%). Higher than average of industry peers (2.9%). Duyuru • Sep 24
Telematic Interactive Bulgaria EAD(BUL:TIB) dropped from SOFIX Index Telematic Interactive Bulgaria EAD has been dropped from the SOFIX Index. Duyuru • Sep 12
Telematic Interactive Bulgaria EAD (BUL:TIB) acquired 60% stake in Miland Games for BGN 0.8 million. Telematic Interactive Bulgaria EAD (BUL:TIB) acquired 60% stake in Miland Games for BGN 0.8 million on September 11, 2025. Telematic Interactive bought 18,660 shares with a nominal value of BGN 10 each. The other 40% of Miland Games capital will remain property of the current sole owner.
Telematic Interactive Bulgaria EAD (BUL:TIB) completed the acquisition of 60% stake in Miland Games for BGN 0.8 million on September 11, 2025. Reported Earnings • Aug 31
Second quarter 2025 earnings released: EPS: лв0.31 (vs лв0.42 in 2Q 2024) Second quarter 2025 results: EPS: лв0.31 (down from лв0.42 in 2Q 2024). Revenue: лв33.4m (up 5.0% from 2Q 2024). Net income: лв4.03m (down 25% from 2Q 2024). Profit margin: 12% (down from 17% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 18
Upcoming dividend of лв0.35 per share Eligible shareholders must have bought the stock before 25 June 2025. Payment date: 07 July 2025. Trailing yield: 3.4%. Lower than top quartile of Bulgarian dividend payers (4.0%). Higher than average of industry peers (2.9%). Reported Earnings • Jun 03
First quarter 2025 earnings released: EPS: лв0.28 (vs лв0.31 in 1Q 2024) First quarter 2025 results: EPS: лв0.28 (down from лв0.31 in 1Q 2024). Revenue: лв32.4m (up 5.8% from 1Q 2024). Net income: лв3.62m (down 11% from 1Q 2024). Profit margin: 11% (down from 13% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Duyuru • May 08
Telematic Interactive Bulgaria EAD, Annual General Meeting, Jun 12, 2025 Telematic Interactive Bulgaria EAD, Annual General Meeting, Jun 12, 2025, at 11:00 FLE Standard Time. Upcoming Dividend • Mar 28
Upcoming dividend of лв0.35 per share Eligible shareholders must have bought the stock before 04 April 2025. Payment date: 14 April 2025. Trailing yield: 3.3%. Lower than top quartile of Bulgarian dividend payers (4.9%). In line with average of industry peers (3.0%). Reported Earnings • Mar 03
Full year 2024 earnings released: EPS: лв1.44 (vs лв1.62 in FY 2023) Full year 2024 results: EPS: лв1.44 (down from лв1.62 in FY 2023). Revenue: лв133.7m (up 13% from FY 2023). Net income: лв18.6m (down 11% from FY 2023). Profit margin: 14% (down from 18% in FY 2023). The decrease in margin was driven by higher expenses. New Risk • Jan 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Bulgarian stocks, typically moving 7.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.0% average weekly change). High level of non-cash earnings (53% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (14% net profit margin). Upcoming Dividend • Dec 12
Upcoming dividend of лв0.28 per share Eligible shareholders must have bought the stock before 19 December 2024. Payment date: 10 January 2025. Payout ratio is a comfortable 29% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Bulgarian dividend payers (5.0%). Lower than average of industry peers (2.7%). New Risk • Nov 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Bulgarian stocks, typically moving 6.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.0% average weekly change). Profit margins are more than 30% lower than last year (15% net profit margin). Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to лв20.80, the stock trades at a trailing P/E ratio of 14.8x. Average forward P/E is 14x in the Hospitality industry in Europe. Total returns to shareholders of 64% over the past year. New Risk • Oct 24
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 15% Last year net profit margin: 22% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Profit margins are more than 30% lower than last year (15% net profit margin). Buy Or Sell Opportunity • Oct 01
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to лв17.50. The fair value is estimated to be лв14.54, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last year. Earnings per share has declined by 33%. Upcoming Dividend • Sep 19
Upcoming dividend of лв0.45 per share Eligible shareholders must have bought the stock before 26 September 2024. Payment date: 11 October 2024. Payout ratio is a comfortable 28% but the company is paying out more than the cash it is generating. Trailing yield: 2.2%. Lower than top quartile of Bulgarian dividend payers (5.4%). Lower than average of industry peers (2.8%). Reported Earnings • Sep 03
Second quarter 2024 earnings released Second quarter 2024 results: EPS: лв0.42. Net income: лв5.38m (up лв5.38m from 2Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Hospitality industry in Europe. Upcoming Dividend • Jun 07
Upcoming dividend of лв0.90 per share Eligible shareholders must have bought the stock before 14 June 2024. Payment date: 02 July 2024. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Bulgarian dividend payers (5.3%). Lower than average of industry peers (2.9%). New Risk • Mar 21
New minor risk - Dividend sustainability The company has a short dividend paying track record. Less than a year of continuous dividend payments. Dividend yield: 4.8% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Duyuru • Mar 15
Telematic Interactive Bulgaria EAD (BUL:TIB) announces an Equity Buyback for 960,336 shares, representing 7.41% of its issued share capital. Telematic Interactive Bulgaria EAD (BUL:TIB) announces a share repurchase program. Under the program, the company will repurchase up to 960,336 shares, representing 7.41% of its issued share capital, targeting up to 3% of its equity capital annually. The repurchase price will be more than BGN 20 per share and not less than BGN 15 per share. The program is aimed at reducing the company's capital. The program is valid till 2026. As of March 13, 2024, the company 12,960,000 shares outstanding. Upcoming Dividend • Mar 15
Inaugural dividend of лв0.39 per share Eligible shareholders must have bought the stock before 22 March 2024. Payment date: 02 April 2024. The company last paid an ordinary dividend in . The average dividend yield among industry peers is 3.0%. New Risk • Jan 27
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: лв177.6m (US$98.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported December 2021 fiscal period end). High level of non-cash earnings (196% accrual ratio). Minor Risk Market cap is less than US$100m (лв177.6m market cap, or US$98.5m). Duyuru • Jan 15
Telematic Interactive Bulgaria EAD (BUL:TIB) acquired TIB Consult SAC for approximately $1 million. Telematic Interactive Bulgaria EAD (BUL:TIB) acquired TIB Consult SAC for approximately $1 million on January 13, 2023. Telematic Interactive Bulgaria EAD (BUL:TIB) completed the acquisition of TIB Consult SAC on January 13, 2023. 
