January 30 (SeeNews) - Financial services company Asterion Bulgaria [BUL:8AVA] reported a non-consolidated net loss of 2.98 million levs ($1.66 million/1.52 million euro) in 2022 after a profit of 5.66 million levs in the prior year.
Revenue plunged by 38% in annual terms to 6.6 million levs last year, the company said in an interim financial statement over the weekend. In contrast, operating expenses nearly doubled - to 9.6 million levs from 5 million levs.
The company’s assets dropped to 47.8 million levs in the review period from 56.4 million levs in 2021.
In August, Asterion acquired 37 shares in local motor oil and lubricants producer Insa, which brought its stake in the company to 14%. To fund acquisitions and manage assets, Asterion took out a 4.5 million euro loan at 5% interest from Bulgarian Financial House in December. The company is owned by Bulgarian automobiles and car parts trader Power Logistics, which held a stake of 99.99% as of the end of last year.
(1 euro = 1.95583 levs)