Bulgaria's Eleven Capital net profit jumps nearly fourfold in 2023

Eleven Capital's total revenue surged to some 11.2 million levs in 2023 from 3.5 million levs the prior year, mainly coming from revaluation of financial assets, the firm said in a financial statement at the end of last month.

The company's operating expenses stood little changed at 364,000 levs in the review period.

Eleven Capital's assets leapt to some 39.5 million levs at the end of 2023 from 29.4 million levs at the end of 2022.

Last year, the firm received dividends from its portfolio companies Businessmap and Enhancv R&D, amounting to 657,000 levs and 453,640 levs, respectively.

As of 1445 CET on Tuesday, shares in Eleven Capital traded 0.56% lower at 17.70 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)