March 2 (SeeNews) - Bulgarian diversified group Chimimport [BUL:CHIM] said it booked a consolidated net profit excluding minority interest of 45.1 million levs ($24.5 million/23.1 million euro) in 2022 compared to 35.3 million levs a year earlier as total revenue nearly doubled despite lower insurance income.
Chimimport's overall operating revenue amounted to 22.7 billion levs last year, up from 11.9 billion levs in the year prior, the company said in an annual financial statement published on Wednesday. This was mostly due to a 26% annual rise in revenue from non-financial activities to 442.8 million levs.
By contrast, Chimimport's net income from insurance activities declined to 38.4 million levs in the year under review from 66.1 million levs in 2021. At the same time, net interest income went up to 143.9 million levs from 131.1 million levs.
The overall result translates in a year-on-year increase in earnings per share (EPS) to 0.20 levs from 0.15 levs.
The group's total operating expenses jumped to 22.6 billion levs last year from 11.8 billion levs in 2021, mainly driven by the negative impact of foreign exchange rates.
Chimimport has full or majority ownership and investments in over 60 affiliates, including in North Macedonia, Russia, Slovakia and Germany. Among others, the group holds controlling stakes in agricultural and energy group Zarneni Hrani Bulgaria [BUL:ZHBG], local lender Central Cooperative Bank [BUL:CCB], insurance company Armeec and Bulgarian Airways Group.
Shares in Chimimport closed flat at 0.778 levs on the Bulgarian Stock Exchange on Wednesday.
(1 euro = 1.95583 levs)