Bulgaria's HES expects 22% y/y decline in H1 sales

Sales in June alone are projected at 5.69 million levs ($3.12 million/2.91 million euro), HES said in a bourse filing.

The company's revenue declined by 21.2% year-on-year in the first five months of 2024, while its preliminary gross profit amounted to 2.4 million levs. Sales in May alone came in at 6 million levs, with preliminary profit totalling 113,000 levs.

Yambol-based HES is part of local diversified group Stara Planina Hold [BUL:SPH]. As of 1135 CEST on Friday, shares in HES traded 0.92% lower at 5.40 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)