Stara Planina Hold Plc published a public notice on the financial standing for the third quarter of 2021 on a consolidated basis.
The reported consolidated results exceeded our expectations for the nine months of 2021. The net consolidated profit of Stara Planina Hold Plc as of 30.09.2021 reached BGN 11 209 thousand which is a growth by 128.43 % compared to the reported net consolidated profit in the amount of BGN 4 907 thousand for the same period of the previous year and an increase by almost 81 % compared to the profit for the nine months of 2019.
The consolidated data show that the sales revenues as of 30.09.2021 are almost 40 % higher than the sales for the nine months of 2020 and over 16 % higher than the reported sales for the nine months of the pre-crisis 2019.
The consolidated revenues for the third quarter of 2021 reached BGN 72.2 million and thus we report an increase by 63.5 % compared to the same period of the previous year and an increase by 37.52 % compared to the third quarter of 2019. Based on the reported results, with the forecast revenues for the second half of 2021, we expect to reach a growth by almost 48 % compared to the same period of the previous year and an increase by almost 42 % compared to the second half of 2019.
The forecasts of our partners in the country, Europe and the world remain optimistic, both until the end of the financial year and at least until the middle of next year, which gives us confidence to plan higher sales also for the last quarter of the financial year. Given this fact we update or forecast expectations and anticipate the sales in 2021 to reach BGN 275.7 million – over 37 % growth compared to 2020 and almost 23 % increase compared to 2019.