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Welde Bulgaria widens net loss in 2018 on revenue decrease

Author Mario Tanev
Welde Bulgaria widens net loss in 2018 on revenue decrease Author: Austria's Welde Group. Licence: All Rights Reserved.

SOFIA (Bulgaria), July 24 (SeeNews) - Welde Bulgaria, a unit of Austrian wooden products manufacturer Welde Gesellschaft, said that its net loss widened to 2.5 million levs ($1.4 million/1.3 million euro) last year from just 85,000 levs in 2017.

Welde Bulgaria's revenue fell to 50.0 million levs in 2018 from 53.1 million levs the year before, the company said in an annual financial statement, entered into the commercial register on Tuesday.

The company's expenses edged down to 52.6 million levs in 2018 from 53.2 million levs in 2017.

Welde Bulgaria's assets decreased to 41.6 million levs at the end of 2018 from 43.9 million levs a year earlier.

The company traded on the Bulgarian Stock Exchange until August 2017.

Welde produces plywood and hardboard and trades in timber and wood-based products. In Southeast Europe, it also operates in Romania and Serbia.

(1 euro = 1.95583 levs)

 

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