November 30 (SeeNews) - Financial and insurance group Eurohold Bulgaria [BUL:4EH] said that its consolidated net loss, excluding minority interest, widened to 13.5 million levs ($8.3 million/6.9 million euro) in the first nine months of the year from 424,000 levs the year before.
Eurohold Bulgaria's revenue edged up to 1.20 billion levs in the January-September period of 2020 from 1.16 billion levs in the same period of 2019, backed by the company's insurance business, figures from the company's interim financial statement, published on Sunday, show.
Eurohold's insurance segment saw a 10% rise in revenue, to 1.06 billion levs. Despite its solid performance in terms of revenue, Eurohold's insurance segment also saw the largest drop in gross profit - by 18.4% to 42.3 million levs.
The group's expenses increased to 1.22 billion levs in the review period from 1.16 billion levs the year before, as the group's insurance business saw an 11.6% rise in expenses, to 1.01 billion levs.
In view of the ongoing coronavirus pandemic and the uncertainty regarding its end, Eurohold Bulgaria plans to turn some of its short-term debt into long-term one, it said.
Last month, Eurohold received approval from Bulgaria's competition regulator to acquire the local assets of Czech energy group CEZ.
Shares in Eurohold closed 0.67% lower at 1.49 levs on the Bulgarian Stock Exchange on Monday.
(1 euro = 1.95583 levs)