1H 2020 Consolidated Financial Report of the company has submitted to the Financial Supervision Commission.

Financial Report
Explanatory Notes

Through the interim report:

The consolidated profit of the Group for the first half of 2020 amounts to BGN 7.35 million compared to BGN 11.205 million for the first half of 2019, which represents a decrease of 34.4%. At the same time, the EBIDTA parameter showed a decrease of 21.1%, reaching BGN 15.6 million in the first half of 2020 compared to BGN 19.7 million in the same period of 2019. We expect the same trend in the second half of 2020. This may affect the dividend flow to the parent company. 

The first half of 2020 showed lower than projected results. The aggregate figures show that the results are comparable to the published expectations. 1H 2020 consolidated sales are 16.4% lower than 1H 2019 and 6.6% below the business plan. 

2Q 2020 net sales revenues reached BGN 46.2 million, compared to BGN 59.9 million in the second quarter of 2019. 

We expect the Y2020 sales to exceed BGN 194.4 million, which will achieve a down of 13.4% compared to Y2019 sales.The decreased results are mainly related to the effect of Covid-19.


Consolidated Sales (BGN'm)