August 12 (SeeNews) - Bulgarian state-owned coal mining company Mini Maritsa Iztok said that its net loss widened to 9.6 million levs ($5.8 million/4.9 million euro) in the first half of the year from 1.8 million levs in the same period of 2019, following a drop in revenue.
The coal mining company generated revenue of 199.5 million levs in the first six months of the year, down from 254.2 million levs in the comparable period of 2019, Mini Maritsa Iztok said in an interim financial statement.
Mini Maritsa Iztok's operating expenses fell to 210 million levs in the review period from 255.9 million levs the year before, largely due to a 27.6 million levs decrease in expenses for materials.
Mini Maritsa Iztok employed 7,261 people at the end of June, slightly down from 7,283 people a year earlier.
The company's coal mines in southern Bulgaria sell their output mainly to three thermal power plants located nearby, two of them owned by ContourGlobal and AES, respectively, and one state-owned. The two power plants owned by ContourGlobal and AES generate around 30% of Bulgaria's electricity output.
(1 euro=1.95583 levs)