January 30 (SeeNews) - Bulgarian venture capital firm Eleven Capital [BUL:11C] said on Monday that its net profit slumped to 1.7 million levs ($944,382/869,193 euro) last year from 13.4 million levs in 2021.
Revenue plunged by 86.4% on the year to 2.09 million levs, the company said in an interim financial statement. Of that, 1.39 million levs were generated from revaluation of financial assets, compared to 14.6 million levs the previous year.
Operating expenses edged down by an annual 0.54% to 368,000 levs in the review period. Meanwhile, the company's assets went up to 27.9 million levs at the end of last year, from 27.1 million levs a year earlier.
In October, Eleven Capital said it received a dividend of 247,440 levs for 2021 from its portfolio company Enhancv R&D.
Eleven Capital owns the portfolio of Bulgarian venture capital fund Eleven and has invested in 34 companies globally, including software firm Kanbanize and cargo drone developer Dronamics. As of 1100 CET on Monday, shares in Eleven Capital traded 1.71% higher at 23.80 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)