March 2 (SeeNews) - Financial services company Asterion Bulgaria [BUL:8AVA] said its consolidated net profit rose to 10.02 million levs ($5.43 million/5.12 million euro) in 2022 from 5.66 million levs a year earlier, boosted by newly acquired businesses.
Revenue surged to 63.2 million levs last year from 10.67 million levs in 2021, the company said in a financial statement on Wednesday.
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Asterion Bulgaria booked automotive sales of 28.9 million levs in 2022. The automotive business become a key focus for Asterion after it acquired 99.99% of automotive holding company Avto Union [BUL:8AVB] in June. It also purchased 90.01% of leasing business Eurolease Group at the time but later reduced its stake to 40.01%.
The company said its operating expenses surged to 32.95 million levs in 2022 from 115,000 levs in 2021. According to the financial statement, 30.7 million levs of the costs were related to the automotive operations.
Asterion is owned by Bulgarian automobiles and car parts trader Power Logistics, which held a stake of 99.99% as of the end of 2022.
In January, Asterion reported a non-consolidated net loss of 2.98 million levs for 2022 after a profit of 5.66 million levs in the prior year.
(1 euro = 1.95583 levs)