STARA PLANINA HOLD PLC 15.12.2023
The Board of Directors of Stara Planina Hold Plc announces an address to the shareholders and investors of the holding and the companies in the Group informing on its anticipations for 2024. For 2023 we anticipate sales of the companies in the Group to reached BGN 374 million which is at the level of the previous year and a growth by approximately 34 % compared to sales in 2021. The 2023 net profit of Stara Planina Hold Plc will exceed BGN 9.2 million which gives us confidence that for the 27th consecutive year part of the profit will be distributed in the form of dividends to the shareholders of the holding.
Investments of our companies BGN 35.5 million, with a 37 % growth on an annual basis, mainly focused on improving the product range, introduction of highly profitable products and productions, acquisition of businesses and assets, innovations for the green and digital transition, increasing labor productivity and sustainable development. In 2024, in the context of the great uncertainty on national and global level, we plan to reduce investments by 23 % to BGN 27.3 million, again to be aimed at modernization and sustainable technological renewal, green and digital transition and sustainable development.
Productivity increased by 26.5 % this year and the average annual growth of labor remunerations reached 23.5 %. In 2024 we foresee to reduce the number of employees by approximately 5 % with an expected decline in labor productivity by 7% and preserving the average monthly salary.
The Board of Directors of Stara Planina Hold Plc expects sales revenues in the group in 2024 of BGN 330 million thus achieving approximately 12% decline on an annual basis.
In 2024 again we will be led by the purpose of achieving European and world level of quality, productivity and profitability and thus to retain the major markets and widen our presence in the new markets. Sustainable achievement of good financial results with the expected sales volumes will continue being the main task for ensuring the shareholders' investments and their profitability.
Our success will continue being shared with all those involved in its achievement.
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CONSOLIDATED SALES( BGN million)
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Stara Planina Hold AD published this content on 15 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 December 2023 08:51:56 UTC.
