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Bulgaria's Elhim Iskra turns to 5-mo loss, revenue down 15% y/y

Jun 21, 2024, 7:15:12 PMArticle by Mihaela Miteva
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June 21 (SeeNews) - Bulgarian car battery manufacturer Elhim Iskra [BUL:ELHM] said on Friday that it booked a preliminary gross loss of 1.09 million levs ($597,378/557,306 euro) in the first five months of 2024 against a profit of 358,000 levs in the comparable period of last year.

Bulgaria's Elhim Iskra turns to 5-mo loss, revenue down 15% y/y
Image source: Elhim Iskra

Elhim Iskra generated a sales revenue of some 16.37 million levs in January-May, the company said in a bourse filing. In comparison, the company posted sales of 19.28 million levs in the same period of 2023.

In May alone, the battery maker turned a preliminary loss of 151,000 levs on revenue of 2.74 million levs. It compared to a profit of 59,000 levs on sales of 3.28 million levs in May 2023.

The Pazardzhik-based company, part of local diversified group Stara Planina Hold [BUL:SPH], projects revenue from sales of 2.72 million levs for June, down from 3.48 million levs in the same month last year.

On Friday, Elhim Iskra's shares closed 3.45% higher at 0.90 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)

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