Bulgaria's Emka 9-mo net profit jumps 65% y/y

Emka’s overall revenue grew to 124.6 million levs in the January-September period of 2022 from some 103 million levs a year earlier, the company said in an interim financial statement. Of that, 86.3 million levs was generated from exports, whereas domestic sales yielded revenue of 34.5 million levs.

The company’s expenses widened to 114.5 million levs from 96.9 million levs, as expenses for materials rose 18.8% to 103.8 million levs. There were annual increases also in costs for hired services -- by 20% to 3.5 million levs, and in salary expenses -- by 10% to 5.3 million levs.

In the third quarter of the current year, Emka signed a contract for the technical design, construction and maintenance of a solar photovoltaic (PV) installation for own use, as part of its strategy to minimise carbon footprint.

Shares in Emka traded flat at 3.50 levs on the Bulgarian Stock Exchange shortly after Wednesday's open, bourse data showed.

(1 euro = 1.95583 levs)