January 31 (SeeNews) - Bulgarian thermal power plant (TPP) Maritsa 3 [BUL:MR3] reported on Tuesday a preliminary non-consolidated net profit of 7.25 million levs ($4.02 million/3.71 million euro) for the fourth quarter of 2022 after a loss of 15.99 million levs in the same period of 2021.
The turnaround to profit came after coal-fired Maritsa 3 cut its operating expenses to 3.76 million levs in the October-December period from 37.4 million levs a year earlier, it said in a financial report.
At the same time, the power plant’s revenue nearly halved to 11.83 million levs from 21.15 million levs.
Regarding the Russian war on Ukraine, Maritsa 3 said the main risk for its business is the possible disruption in the deliveries of natural gas, which is its main ignition fuel in the production of electricity.
In October, the power plant reported a standalone net loss of 69 million levs for the first nine months of 2022 after a loss of 16 million levs in the same period of 2021.
Shares in TPP Maritsa 3 last traded at 134.628 levs on the BaSE market of the Bulgarian Stock Exchange (BSE), bourse data shows.
The 120MW TPP Maritsa 3 is located in the town of Dimitrovgrad, in southern Bulgaria.
(1 euro = 1.95583 levs)