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Bulgaria's Elana Agrocredit land buy financing rises y/y in May

Jun 13, 2024, 11:31:45 AMArticle by Mihaela Miteva
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June 13 (SeeNews) - Bulgarian agricultural leasing company Elana Agrocredit [BUL:EAC] said it signed deals to finance agricultural land purchases worth a total of 336,178 levs ($185,034/171,884 euro) in May, compared to 329,605 levs recorded in the same month of 2023.

Bulgaria's Elana Agrocredit land buy financing rises y/y in May
Image source: Elana Agrocredit.

Elana Agrocredit financed the purchase of 12.5 hectares (ha) of land last month, down from 14.2 ha a year earlier, the company said in a regular activity report on Wednesday.

In monthly comparison terms, the value of deals plunged by 76.8% in May, from some 1.45 million levs in April, with the financed land volume dropping from roughly 50.6 ha.

The financial leasing company agreed four land purchase financing deals in May, compared to 11 in the same month last year and 22 in April.

Earlier this week, Elana Agrocredit said it raised some 11.07 million levs in a capital increase.

Shares in Elana Agrocredit last traded on Wednesday when they closed at 1.08 levs on the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)

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