Bulgaria's Odessos Shiprepair Yard grows net profit 11% in 2023

The company's total revenue jumped to some 97.3 million levs last year from 79.3 million levs in 2022, Varna-based Odessos Shiprepair Yard said in a financial statement.

A total of 73 ships were repaired at the company's facilities in 2023, against 65 a year earlier. Revenue from ship repairs came in at 94.6 million levs, up 26% in annual terms.

At the same time, operating expenses widened to 77.9 million levs from 61.8 million levs the prior year, mostly due to a rise in costs for hired services and remuneration.

As of 1130 CET on Friday, shares in Odessos Shiprepair Yard traded 10.00% higher at 308.00 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)