January 27 (SeeNews) - Bulgarian battery manufacturer Elhim Iskra [BUL:ELHM] said on Thursday that it expects to post a sales revenue of 10.6 million levs ($6.1 million/5.4 million euro) in the first quarter of 2022 under an optimistic scenario - a rise of 15% year-on-year and 30% more compared to the first quarter of 2020.
The company forecasts sales of 21.6 million levs in the first half of this year - up 12.5% compared to the same period of 2021, Elhim Iskra said in an annual financial statement.
You can download the 2023 Automotive industry in Southeast Europe report here
Elhim Iskra also said it turned a net profit of 393,000 levs ($226,700/200,900 euro) in 2021, compared to a net loss of 312,000 levs the year before.
The car battery maker's total revenue rose to 39.5 million levs last year from 30.8 million levs in 2020. Net sales revenue reached 38.3 million levs last year, up 27.8% compared to 2020 and 14.6% more compared to pre-crisis 2019.
Operating expenses grew to 39 million levs last year from 31.1 million levs in 2020, mostly due to higher expenses for materials.
Elhim Iskra also noted that its markets continued to recover last year, including the markets of Italy, France, Spain and Russia. The Pazardzhik-based company exports over 90% of its output.
On Wednesday, shares in Elhim Iskra closed at 0.82 levs on the Bulgarian Stock Exchange. They did not trade on Thursday.
Elhim Iskra is part of local blue-chip diversified group Stara Planina Hold [BUL:SPH].
(1 euro = 1.95583 levs)