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VMware Bulgaria widens 2018 net loss on rise in expenses for salaries

Author Mario Tanev
VMware Bulgaria widens 2018 net loss on rise in expenses for salaries wrangler/Shutterstock.com

SOFIA (Bulgaria), July 16 (SeeNews) - VMware Bulgaria, part of US-based cloud computing company VMware, said that its net loss widened to 12.5 million levs ($7.2 million/6.4 million euro) in 2018 from 8.4 million levs the year before, following a rise in expenses for salaries. 

VMware Bulgaria's expenses for salaries grew to 75.4 million levs last year from 57.3 million levs in 2017, the company said in an annual financial statement, published on Monday.

The company's total operating expenses increased to 119.9 million levs in 2018 from 95.4 million levs in 2017.

VMware Bulgaria's sales rose to 108.3 million levs from 88.9 million levs in 2017.

Assets at the end of 2018 amounted to 50.0 million levs, up from 41.5 million levs a year earlier.

VMware Bulgaria employed 863 people at the end of 2018, compared to 686 people at the end of 2017. The company expects to keep growing the number of its employees at the same pace in 2019.

(1 euro = 1.95583 levs)

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