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Korado Bulgaria pares H1 net profit, increases revenue

Author Mario Tanev
Korado Bulgaria pares H1 net profit, increases revenue Author: Korado. Licence: All Rights Reserved.

SOFIA (Bulgaria), July 30 (SeeNews) - Steel radiator manufacturer Korado Bulgaria [BUL:4KX], part of Czech Republic-based Korado Group, said on Tuesday that it booked net profit of 3.2 million levs ($1.8 million/1.6 million euro) in the first half of 2019, matching its financial result in the same period of 2018.

The company's revenue rose to 21.2 million levs in the January-June period of 2019 from 20.7 million levs in the comparable period of 2018, Korado Bulgaria said in an interim financial statement.

Korado Bulgaria sold 258,855 units in the review period, up from 250,882 units sold in the corresponding period of last year. Most of the company's sales were to its Czech parent. 

Sales on the domestic market formed just 1.3% of the company's total sales volume.

Sales to EU countries fell to 229,781 units in the first six months of 2019 from 235,206 units in the same period of 2018, while sales to non-EU countries more than doubled to 26,083 units from 11,103 units.

The company produced 214,831 steel panel radiators in the review period, down from 221,617 radiators produced in the first half of 2018.

Korado Bulgaria produced 47,050 towel rail radiators in the January-June period of 2019, up from 40,180 the year before.

(1 euro = 1.95583 levs)

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