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Bulgaria's Elana Agrocredit 2021 net profit inches down on lower revenue

Author Vasil Kolchev
Bulgaria's Elana Agrocredit 2021 net profit inches down on lower revenue Photo: Elana Agrocredit

SOFIA (Bulgaria), January 28 (SeeNews) - Bulgarian financial leasing company Elana Agrocredit [BUL:EAC] said that it closed 2021 with a net profit of 2.7 million levs ($1.6 million/1.4 million euro), slightly lower than the 2.9 million levs posted for 2020.

The company's revenue fell to 8 million levs last year from 11.1 million levs in 2020, the company said in a financial statement on Thursday.

Elana Agrocredit's expenses also decreased in the review period - to 5 million levs from 7.9 million levs a year earlier, mostly due to lower cost of goods sold.

According to data from the financial statement, Elana Agrocredit signed 133 deals to finance purchases of a total of 519.7 ha of agricultural land worth some 6.6 million levs last year.

As at 11:00 CET on Friday, shares in Elana Agrocredit traded flat at 1.07 levs on the Sofia bourse.

(1 euro = 1.95583 levs)

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