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Bulgaria's TPP Maritsa 3 cuts Q1 cons net profit despite rise in revenue

Author Mario Tanev
Bulgaria's TPP Maritsa 3 cuts Q1 cons net profit despite rise in revenue Author: Ken Teegardin. License: Creative Commons, Attribution 2.0 Generic.

SOFIA (Bulgaria), May 23 (SeeNews) - Bulgarian thermal power plant (TPP) Maritsa 3 said that its non-consolidated net profit fell to 651,000 levs ($371,000/333,000 euro) in the first quarter of 2019 from 1.42 million levs in the comparable period of last year.

The plant's revenue grew sharply to 5.1 million levs in the first three months of the year from 2.8 million levs in the same period of 2018, TPP Maritsa 3 said in an interim financial statement earlier this week.

TPP Maritsa 3's total expenses increased to 4.4 million levs in the review period from 1.4 million levs a year earlier.

The plant has one functioning 120 MW unit.

TPP Maritsa 3 is located in the town of Dimitrovgrad, in southern Bulgaria. Its largest shareholder is local Topgroup with a 49% stake, followed by Draft with 46% interest.

(1 euro = 1.95583 levs)

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