January 31 (SeeNews) - Energy and insurance group Eurohold Bulgaria [BUL:EUBG] said that its standalone net loss shrank to 49 million levs ($27.32 million/25.05 million euro) in 2022 from 116 million levs the previous year.
Eurohold's revenue increased to 3.7 million levs last year from 1.9 million levs in 2021, the company said in an interim financial statement on Monday.
The group's expenses plunged to 52.2 million levs in the review period from 117.7 million levs as costs associated with the sale of financial assets and instruments went down by 81% to 16.3 million levs.
In December, Eurohold received consent from its bondholders to extend by 42 months the maturity of a 70 million euro medium-term Eurobond. Euroins Insurance Group (EIG), part of Eurohold Bulgaria, said last month it has agreed to dispose of its wholly-owned subsidiary in Belarus and to shed its 48.61% equity stake in a Russian business.
Shares in Eurohold last traded at 1.75 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)