January 31 (SeeNews) - Bulgarian thermal power plant (TPP) Bobov Dol [BUL:TBD] said on Tuesday that its non-consolidated net profit increased to 14.97 million levs ($8.29 million/ 7.65 million euro) in 2022 from 6.91 million levs in 2021 due to lower financial costs.
The company’s total expenses, including operating costs and financial expenses, fell to 228.5 million levs last year from 250.8 million levs in 2021, the power plant said in a financial statement.
Operating expenses alone climbed to 224.3 million levs from 162.4 million levs due to higher cost of materials and expenses for external services. Financial costs, however, dropped to 4.2 million levs from 88.4 million levs.
At the same time, the power plant’s revenue decreased to 245 million levs last year from 258.5 million levs in 2021.
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. This compares with 95.56% ownership interest at the end of September.
In December, the Bulgarian competition authority found that a notified acquisition of an undisclosed stake in Bobov Dol by US-based Ultimate Energy Investment Group LLC does not constitute corporate concentration and therefore requires no antitrust clearance.
As at CET1242 on Tuesday, shares in TPP Bobov Dol traded flat at 20.40 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)