Bulgaria’s Albena grows non-cons net profit 44% in 2023

The company's total revenue increased to 93.8 million levs last year from 89.1 million levs in 2022, driven by higher sales of goods and services, Albena said in a financial statement at the end of last month.

In parallel, operating expenses widened to some 92 million levs from 88.2 million levs, mainly due to higher costs for remuneration, hired services and goods sold. At the same time, costs for materials dropped by 38% year-on-year to 9.8 million levs.

Albena owns the eponymous resort on the northern Black Sea coast, as well as Byalata Laguna and Primorsko coastal holiday villages. It also has several subsidiaries active in transport, agriculture, construction, medicine and spa services.

Shares in Albena last traded on Monday when they closed at 27.20 levs on the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)