Bulgaria's Atomenergoremont more than doubles net profit in 2023

The company's total operating revenue jumped by an annual 32% to 86.6 million levs last year, Atomenergoremont said in a financial statement on Friday. Revenue from sales of services, which makes up over 99% of the total sales revenue, grew to 79.3 million levs in the review period from 57.8 million levs in 2022.

At the same time, Atomenergoremont's operating expenses widened to 50.5 million levs in 2023 from 49.6 million levs the prior year, primarily due to an increase in remuneration costs and a change in inventory.

The company's assets stood at some 262 million levs at the end of last year, up from 242.5 million levs at end-2022.

Atomenergoremont's main client is Bulgaria's sole nuclear power plant, Kozloduy NPP. In 2023, repair works carried out at the plant generated nearly 85% of the company's revenue from the sale of services.

Shares in Atomenergoremont last traded on Friday when they closed at 12.00 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)