The company renegotiated its existing obligations into subordinated debt
The consolidated assets as of 30th of June 2016 amounted to BGN 1.03 billion compared to BGN 979.4 million as of 31th of December 2015.
The cash and deposits increased by BGN 39 million to BGN 126.2 million. The receivables decreased by BGN 20.3 million for the period reaching BGN 393.3 million. The other assets increased by BGN 31.4 million and amounted to BGN 221.7 million, including financial assets that recorded the highest growth raising by BGN 28.7 million up to BGN 132.5 million.

Following the policy for capital strengthening of its insurance sub-holding, the management has taken the appropriate capital measures at Eurohold level. Existing obligations were renegotiated into subordinated debt effectively as of 30th June 2016. The total amount of subordinated debt at the end of the reporting period amounted to BGN 85 million. The transformation of the obligations significantly improves the Debt to Equity ratio of the Group.
The consolidated revenues from operating activities of Eurohold Bulgaria AD increased by BGN 24.7 million reaching BGN 516.8 million. The operating expenses increased only by BGN 1.9 up to BGN 462.1 million. The trend from previous periods of faster growth of revenues compared to costs was retained.
The consolidated gross profit of the Eurohold Group as of the end of first half of 2016 increased significantly by 71.4% and amounted to BGN 54.8 million. The consolidated EBITDA increased by BGN 21.7 million and amounted to BGN 27.5 million compared to EBITDA for H1'2015 that amounted to BGN 5.8 million.
For the first half of 2016 the Eurohold Group registered a profit in amount of BGN 17.9 million, including a profit for the group amounted to nearly BGN 16 million and non-controlling interest - a profit of BGN 1.9 million.

Eurohold Bulgaria AD Sofia published this content on 30 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 31 August 2016 07:28:05 UTC.

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