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Aug 29, 2023 10:58 EEST
August 29 (SeeNews) - Bulgarian electric vehicle (EV) manufacturer Sin Cars Industry [BUL:SIN] said its standalone net loss narrowed to 130,000 levs ($71,839/66,468 euro) in the first half of 2023 from 228,000 levs in the like period of last year.
Sin Cars Industry's operating revenue rose to 2.4 million levs in January-June from 1.9 million levs a year earlier, the company said in a bourse filing on Monday.
You can download the 2023 Automotive industry in Southeast Europe report here
The annual increase in revenue was driven by a rise in production and sales of parts, aggregates, modules and components to external suppliers, as well as EV sales, Sin Cars said.
Operating expenses widened to 2.5 million levs in the review period from 2.1 million levs in the first six months of 2022 on the back of higher costs for materials and a change in inventory.
In May, Sin Cars said it received four orders for the delivery of its L City EV, which will generate revenue of over 400,000 levs.
Shares in the company last traded on August 25 when they closed at 0.755 levs on the BEAM growth market of the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)
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