Eurohold Bulgaria sharply cuts non-cons net loss in 2023

Eurohold's operating expenses plunged to 32.6 million levs in 2023 from some 106.9 million levs the year prior, the company said in a financial statement last week. The decline was driven by smaller losses on investment sales and financial instrument transactions, which dropped to 445,000 levs from 69 million levs.

At the same time, the group's total revenue grew to 8.8 million levs in the review period from 4.7 million levs in 2022, mainly due to other sales and financial revenue.

In December, the company listed its 40 million euro ($43 million) bond on the Sofia bourse.

The diversified group, which operates in 13 European countries, has four subsidiaries and two divisions that were set up to develop its energy business.

As of 1545 CET on Wednesday, shares in Eurohold traded flat at 1.30 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)