Stara Planina Hold : 3Q 2023 Financial Notification

3Q 2023 Financial Notification

27.10.2023

Stara Planina Hold Plc announced a Financial Report for the third quarter of 2023.

Documents:
Explanatory Notes
Financial Report
Declarations

The net profit of Stara Planina Hold Plc as of 30.09.2023 reached BGN 9 654 thousand which represents a growth by 14.7 % compared to the reported net profit of BGN 8 409 thousand for the same period of the previous year and an increase by nearly 23 % compared to the profit for the nine months of 2021.

Against the background of the intensifying downturn in global economy, the sharp reduction in orders from our customers and partners in the second half of 2023, and the growing geopolitical uncertainty, we are adjusting our expectations for consolidated revenues in the third and fourth quarters of 2023. We expect the consolidated revenues for the third quarter of 2023 to reach BGN 86.5 million and thus we will report a decrease by approximately 12 % compared to the third quarter of the previous year and an increase by nearly 20 % compared to the same period of 2021.

The preliminary summary data indicates that consolidated sales for the nine months of 2023 will be nearly 7 % higher than the sales for the same period of 2022 and nearly 46 % higher than the reported sales in the nine months of 2021.

Our updated expectations foresee sales in the last quarter of 2023 to be around BGN 68 million. With the estimated revenues for the second half of 2023, we will report a decrease by about 19% compared to the same period of the previous year and an increase by approximately 5% compared to the second half of 2021. On an annual basis, we expect the consolidated sales revenues of Stara Planina Hold Plc to reach BGN 366.14 million, thus reporting a decrease by about 2.4% compared to the previous year and a growth by 31.5% compared to the 2021 sales.