March 7 (SeeNews) - Bulgarian thermal power plant (TPP) Bobov Dol [BUL:TBD] said that its consolidated net profit increased to 22.6 million levs ($12.3 million/11.6 million euro) in 2022 from 12.3 million levs a year earlier.
The company’s total expenses, including operating costs and financial expenses, decreased to 253.3 million levs last year from 268.1 million levs in 2021, the TPP said in a financial statement last week.
Operating expenses rose to 248.9 million levs from 179.4 million levs mainly due to higher costs for materials. The company also booked higher expenses for external services and remuneration costs.
At the same time, total revenue fell to 277.5 million levs from 281.8 million levs. The decrease reflects mainly lower financial income, while sales rose by 27.51% on the year to 266.6 million levs, TPP Bobov Dol said.
According to the financial statement, local consortium Energy MK, which bought the power plant in 2008, held a stake of 95.44% at the end of 2022, slightly up from 95.56% at the end of September.
In December, the Bulgarian competition authority said that a notified acquisition of an undisclosed stake in the TPP by US-baased Ultimate Energy Investment Group requires no antitrust clearance.
Shares in TPP Bobov Dol closed flat at 20.40 levs on the Bulgarian Stock Exchange on Monday.
(1 euro = 1.95583 levs)