VRG SA
WSE:VRG
Income Statement
Earnings Waterfall
VRG SA
Revenue
|
1.3B
PLN
|
Cost of Revenue
|
-606m
PLN
|
Gross Profit
|
726.8m
PLN
|
Operating Expenses
|
-627.7m
PLN
|
Operating Income
|
99.1m
PLN
|
Other Expenses
|
-8.6m
PLN
|
Net Income
|
90.5m
PLN
|
Income Statement
VRG SA
Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | Jun-2024 | Sep-2024 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
424
N/A
|
443
+5%
|
458
+3%
|
477
+4%
|
495
+4%
|
514
+4%
|
530
+3%
|
552
+4%
|
570
+3%
|
599
+5%
|
615
+3%
|
633
+3%
|
654
+3%
|
689
+5%
|
713
+4%
|
734
+3%
|
757
+3%
|
806
+6%
|
860
+7%
|
1 151
+34%
|
1 222
+6%
|
1 068
-13%
|
1 266
+18%
|
956
-24%
|
954
0%
|
854
-11%
|
828
-3%
|
897
+8%
|
953
+6%
|
1 070
+12%
|
1 142
+7%
|
1 239
+9%
|
1 254
+1%
|
1 274
+2%
|
1 297
+2%
|
1 291
-1%
|
1 268
-2%
|
1 302
+3%
|
1 313
+1%
|
1 318
+0%
|
1 333
+1%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(196)
|
(206)
|
(213)
|
(223)
|
(231)
|
(241)
|
(250)
|
(260)
|
(272)
|
(287)
|
(296)
|
(306)
|
(315)
|
(329)
|
(344)
|
(355)
|
(368)
|
(393)
|
(420)
|
(563)
|
(596)
|
(512)
|
(616)
|
(473)
|
(477)
|
(436)
|
(423)
|
(443)
|
(458)
|
(502)
|
(532)
|
(568)
|
(580)
|
(591)
|
(600)
|
(598)
|
(580)
|
(596)
|
(595)
|
(598)
|
(606)
|
|
Gross Profit |
228
N/A
|
238
+4%
|
246
+3%
|
255
+3%
|
265
+4%
|
273
+3%
|
280
+3%
|
292
+4%
|
298
+2%
|
312
+5%
|
319
+2%
|
327
+2%
|
338
+4%
|
359
+6%
|
369
+3%
|
379
+3%
|
389
+2%
|
412
+6%
|
440
+7%
|
589
+34%
|
626
+6%
|
556
-11%
|
650
+17%
|
483
-26%
|
477
-1%
|
417
-12%
|
405
-3%
|
454
+12%
|
495
+9%
|
568
+15%
|
610
+7%
|
672
+10%
|
674
+0%
|
683
+1%
|
697
+2%
|
693
-1%
|
688
-1%
|
706
+3%
|
718
+2%
|
721
+0%
|
727
+1%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(195)
|
(201)
|
(208)
|
(212)
|
(219)
|
(229)
|
(237)
|
(248)
|
(254)
|
(261)
|
(269)
|
(273)
|
(282)
|
(296)
|
(305)
|
(316)
|
(325)
|
(340)
|
(371)
|
(512)
|
(547)
|
(469)
|
(575)
|
(444)
|
(438)
|
(429)
|
(420)
|
(442)
|
(454)
|
(471)
|
(491)
|
(510)
|
(522)
|
(547)
|
(556)
|
(568)
|
(578)
|
(592)
|
(605)
|
(615)
|
(628)
|
|
Selling, General & Administrative |
(195)
|
(201)
|
(207)
|
(212)
|
(218)
|
(227)
|
(234)
|
(246)
|
(253)
|
(261)
|
(269)
|
(273)
|
(281)
|
(293)
|
(302)
|
(314)
|
(324)
|
(340)
|
(371)
|
(512)
|
(547)
|
(469)
|
(575)
|
(436)
|
(427)
|
(417)
|
(407)
|
(434)
|
(447)
|
(464)
|
(486)
|
(509)
|
(522)
|
(540)
|
(555)
|
(566)
|
(574)
|
(586)
|
(599)
|
(610)
|
(624)
|
|
Depreciation & Amortization |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Other Operating Expenses |
(0)
|
1
|
(1)
|
(1)
|
(1)
|
(2)
|
(2)
|
(2)
|
(2)
|
0
|
0
|
(1)
|
(1)
|
(3)
|
(3)
|
(3)
|
(1)
|
0
|
0
|
(0)
|
(1)
|
0
|
(0)
|
(8)
|
(11)
|
(12)
|
(13)
|
(8)
|
(7)
|
(6)
|
(6)
|
(1)
|
1
|
(7)
|
(1)
|
(2)
|
(4)
|
(6)
|
(6)
|
(5)
|
(4)
|
|
Operating Income |
33
N/A
|
37
+13%
|
39
+5%
|
42
+10%
|
45
+7%
|
43
-4%
|
44
+1%
|
44
+0%
|
44
0%
|
51
+16%
|
50
-2%
|
53
+6%
|
57
+6%
|
63
+12%
|
64
+1%
|
63
-2%
|
63
+1%
|
72
+14%
|
69
-4%
|
76
+11%
|
79
+3%
|
87
+10%
|
75
-14%
|
38
-49%
|
39
+2%
|
(11)
N/A
|
(15)
-35%
|
12
N/A
|
41
+253%
|
98
+137%
|
118
+21%
|
162
+37%
|
152
-6%
|
136
-10%
|
141
+3%
|
124
-12%
|
111
-11%
|
114
+3%
|
113
-1%
|
106
-6%
|
99
-7%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(10)
|
(11)
|
(12)
|
(11)
|
(10)
|
(9)
|
(7)
|
(9)
|
(8)
|
(6)
|
(7)
|
(7)
|
(7)
|
(6)
|
(7)
|
(6)
|
(6)
|
(5)
|
(6)
|
(3)
|
(11)
|
(2)
|
(26)
|
(19)
|
(15)
|
(35)
|
(14)
|
(11)
|
(17)
|
(9)
|
(9)
|
(29)
|
(53)
|
(21)
|
(27)
|
(4)
|
12
|
23
|
20
|
2
|
20
|
|
Non-Reccuring Items |
(0)
|
(0)
|
(0)
|
0
|
0
|
0
|
1
|
0
|
0
|
0
|
0
|
0
|
0
|
(1)
|
(1)
|
(1)
|
(1)
|
(0)
|
(0)
|
1
|
0
|
0
|
0
|
(1)
|
(1)
|
(1)
|
(1)
|
(0)
|
(0)
|
(0)
|
0
|
0
|
(0)
|
4
|
(0)
|
1
|
1
|
0
|
(1)
|
1
|
2
|
|
Total Other Income |
(3)
|
(0)
|
(2)
|
(1)
|
(1)
|
(2)
|
(1)
|
(2)
|
(3)
|
(1)
|
1
|
(0)
|
(1)
|
(2)
|
(2)
|
(1)
|
(1)
|
(1)
|
(1)
|
(3)
|
(7)
|
(6)
|
(5)
|
(3)
|
(1)
|
(1)
|
(5)
|
(6)
|
(7)
|
(5)
|
(7)
|
(7)
|
8
|
(2)
|
12
|
13
|
1
|
(8)
|
(4)
|
(5)
|
(5)
|
|
Pre-Tax Income |
22
N/A
|
25
+18%
|
26
+0%
|
30
+18%
|
34
+13%
|
32
-5%
|
35
+8%
|
35
0%
|
36
+3%
|
44
+24%
|
44
-1%
|
46
+5%
|
49
+6%
|
55
+12%
|
56
+1%
|
56
+0%
|
57
+1%
|
66
+16%
|
61
-7%
|
69
+13%
|
60
-13%
|
79
+31%
|
44
-44%
|
16
-65%
|
23
+44%
|
(48)
N/A
|
(36)
+26%
|
(5)
+85%
|
17
N/A
|
84
+384%
|
102
+23%
|
126
+23%
|
108
-14%
|
118
+9%
|
126
+7%
|
135
+7%
|
125
-7%
|
129
+4%
|
128
-1%
|
104
-19%
|
115
+11%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(5)
|
(5)
|
(5)
|
(6)
|
(7)
|
(7)
|
(8)
|
(7)
|
(8)
|
(9)
|
(10)
|
(10)
|
(11)
|
(12)
|
(12)
|
(12)
|
(12)
|
(12)
|
(10)
|
(11)
|
(11)
|
(15)
|
(12)
|
(5)
|
(4)
|
8
|
9
|
2
|
(3)
|
(17)
|
(19)
|
(26)
|
(22)
|
(25)
|
(27)
|
(28)
|
(26)
|
(28)
|
(28)
|
(23)
|
(25)
|
|
Income from Continuing Operations |
17
|
20
|
21
|
24
|
27
|
25
|
27
|
27
|
28
|
35
|
35
|
36
|
39
|
43
|
44
|
44
|
45
|
54
|
51
|
58
|
50
|
64
|
32
|
11
|
18
|
(40)
|
(27)
|
(4)
|
14
|
66
|
84
|
100
|
85
|
93
|
99
|
107
|
99
|
102
|
101
|
81
|
90
|
|
Income to Minority Interest |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Net Income (Common) |
17
N/A
|
20
+21%
|
21
+3%
|
24
+17%
|
27
+12%
|
25
-7%
|
27
+8%
|
27
+0%
|
28
+3%
|
35
+24%
|
35
-2%
|
36
+5%
|
39
+6%
|
43
+12%
|
44
+2%
|
44
+0%
|
45
+1%
|
54
+20%
|
51
-5%
|
58
+14%
|
50
-15%
|
64
+29%
|
32
-50%
|
11
-66%
|
18
+70%
|
(40)
N/A
|
(27)
+33%
|
(4)
+86%
|
14
N/A
|
66
+369%
|
84
+26%
|
100
+20%
|
85
-14%
|
93
+9%
|
99
+7%
|
107
+8%
|
99
-8%
|
102
+3%
|
101
-1%
|
81
-19%
|
90
+11%
|
|
EPS (Diluted) |
0.1
N/A
|
0.11
+10%
|
0.12
+9%
|
0.14
+17%
|
0.16
+14%
|
0.14
-13%
|
0.16
+14%
|
0.16
N/A
|
0.16
N/A
|
0.19
+19%
|
0.2
+5%
|
0.21
+5%
|
0.22
+5%
|
0.24
+9%
|
0.24
N/A
|
0.24
N/A
|
0.25
+4%
|
0.28
+12%
|
0.26
-7%
|
0.24
-8%
|
0.22
-8%
|
0.27
+23%
|
0.12
-56%
|
0.04
-67%
|
0.07
+75%
|
-0.17
N/A
|
-0.11
+35%
|
-0.02
+82%
|
0.06
N/A
|
0.27
+350%
|
0.36
+33%
|
0.43
+19%
|
0.36
-16%
|
0.39
+8%
|
0.42
+8%
|
0.46
+10%
|
0.42
-9%
|
0.43
+2%
|
0.45
+5%
|
0.35
-22%
|
0.39
+11%
|