April 29 (SeeNews) - Bulgarian fertiliser producer Neochim [BUL:NEOH] said on Friday that it booked a non-consolidated net profit of 64.4 million levs ($34.7 million/32.9 million euro) in the first quarter of 2022, six time as much compared to a net profit of some 10.8 million levs booked in the like period of 2021.
The company's revenue surged to 269.2 million levs in the review period from 68.5 million levs in the first quarter of 2021, Neochim said in an interim financial statement.
Neochim generated a revenue of 170.2 million levs from sales on foreign markets in the first quarter of 2022, as ammonium nitrate exports soared 119.5% to 90.2 million levs.
Domestic sales increased to 93.9 million levs in the January-March period from 43.6 million levs in the first quarter of 2021.
Neochim's expenses marked a sharp increase as well, to 204.6 million levs in the first quarter of 2022 from 57.6 million levs in the first three months of last year, mainly due to a 257% year-on-year jump in expenses for materials, of which the main one is natural gas, to 149.7 million levs.
(1 euro = 1.95583 levs)