Bulgaria's HES projects 21% y/y drop in Jan-April sales

In comparison, the company booked sales of some 34.3 million levs ($18.7 million/17.5 million euro) in January-April 2023.

Sales in April alone are projected at 6.26 million levs, HES said in a bourse filing.

The company's revenue declined by 20.97% year-on-year in the first quarter of 2024, while its preliminary gross profit amounted to 1.91 million levs. Sales in March alone came in at 6.64 million levs, with preliminary profit totalling 389,000 levs.

Yambol-based HES is part of local diversified group Stara Planina Hold [BUL:SPH]. As of 1100 CET on Friday, shares in HES traded flat at 5.80 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)