You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Yazaki Bulgaria turns to slim net loss in 2018 on rise in expenses

Author Mario Tanev
Yazaki Bulgaria turns to slim net loss in 2018 on rise in expenses

SOFIA (Bulgaria), July 16 (SeeNews) - Yazaki Bulgaria, a unit of Japanese car parts manufacturer Yazaki, said that it turned to a net loss of 814,000 levs ($467,000/416,000 euro) in 2018 from a net profit of 5.8 million levs in 2017.

The company's sales grew to 362.5 million levs last year from 289.3 million levs in 2017, while cost of sales increased to 345.3 million levs from 283.6 million levs, Yazaki Bulgaria said in an annual financial statement.

Other revenue dropped to 15.0 million levs from 23.2 million levs in 2017.

Yazaki Bulgaria's selling costs rose to 8.6 million levs in 2018 from 5.2 million levs in 2017, while administrative expenses grew to 23.2 million levs from 18.4 million levs.

Yazaki Bulgaria's assets amounted to 186.2 million levs at the end of 2018, up from 172.2 million levs at the end of 2017.

The company employed 5,711 people at the end of 2018, compared to 5,521 a year earlier.

Yazaki Bulgaria has three plants in the country - in Yambol, Sliven and Dimitrovgrad. The company's main activity is production of wire harnesses for the automotive industry, with Renault, Ford and Daimler among its main clients.

(1 euro = 1.95583 levs)