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Bulgaria's Emka reports flattish 2020 net profit, lower revenue

Author Mario Tanev
Bulgaria's Emka reports flattish 2020 net profit, lower revenue Author: Emka / All rights reserved.

SOFIA (Bulgaria), January 28 (SeeNews) - Bulgarian cables manufacturer Emka [BUL:57E] said on Thursday that its net profit remained almost unchanged year-on-year at 3.7 million levs ($2.3 million/1.9 million euro).

Emka's total revenue fell to 92.8 million levs last year from 97.5 million levs in 2019, the company said in an annual financial statement.

Exports amounted to 62.3 million levs in the review period, while domestic sales totalled 28.5 million levs.

The company's expenses decreased to 88.7 million lvs from 93.4 million levs, mostly due to lower expenses for materials.

Emka also spent just 380,000 levs on new machinery and equipment in 2020.

The cables maker expects to book revenue of 9 million levs in January and 8.5 million levs in February.

(1 euro = 1.95583 levs)

 

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