SOFIA (Bulgaria), July 12 (SeeNews) - Sensor systems manufacturer Sensata Technologies Bulgaria, a unit of Belgium-based Sensor-Nite, said that its net profit edged down to 21.3 million levs ($12.2 million/10.9 million euro) from 22.4 million levs the year before.
Sensata Technologies Bulgaria's sales grew to 477.9 million levs last year from 352.8 million levs in 2017, the company said in an annual financial statement.
Cost of goods sold rose to 410.2 million levs from 307.8 million levs.
Selling and distribution costs increased to 18.3 million levs in 2018 from 10.2 million levs a year earlier, while administrative expenses rose to 18.8 million levs from 14.3 million levs.
The company did not generate any financial revenue in 2018, compared to financial revenue of 7 million levs in 2017. Financial expenses increased to 5.6 million levs last year from 2.2 million levs in 2017.
Sensata Technologies Bulgaria's assets grew to 325.4 million levs at the end of 2018 from 249.2 million levs a year earlier.
Earlier this year, the Botevgrad municipal government said that Sensata Technologies Bulgaria broke ground for a $27 million (23.9 million euro) new production and storage facility in the city.
Sensata Technologies Bulgaria is a wholly-owned unit of Sensor-Nite, which in turn is part of U.S.-based Sensata Technologies, which manufactures sensing, electrical protection, control and power management solutions for the automotive and aviation industries.
Sensata Technologies Bulgaria has two production bases - in Botevgrad and Plovdiv, and a testing laboratory in Sofia.
(1 euro = 1.95583 levs)