Bulgaria's TPP Maritsa 3 sharply cuts Q1 cons net loss

The improved performance was due to lower operating expenses, which dropped to 5.9 million levs in January-March from 42.1 million levs a year earlier, TPP Maritsa 3 said in an interim financial statement on Wednesday. Costs for materials slumped by 90% on the year to 2.6 million levs, with most of the other expenses also declining.

The power plant's overall revenue sank to 4.2 million levs in the review period from a little over 29.1 million levs in the first quarter of 2023. Of that, product sales generated 3.78 million levs, shedding 82% from the prior-year period.

The plant, which has one functioning 120-MW unit, is located in the town of Dimitrovgrad in southern Bulgaria.

Shares in TPP Maritsa 3 last traded at 134.628 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)