Stara Planina Hold Plc announced a Consolidated Public Notice on the Financial Standing for the fourth quarter of 2023.

Financial Notification
Explanatory Notes

Against thе background of the effects of the dynamic global changes and the superimposed crises one after another, the results for the year 2023, reported by the companies in the group of Stara Planina Hold Plc, continue being very high but with a clear trend for a significant decrease, both in the last quarter of 2023 and especially in the first months of 2024.

The consolidated sales for 2023 reported a growth by 1% compared to the sales for 2022 and an increase by over 36 % compared to the reported sales for 2021. The net sales revenue for 2023 reached BGN 378.95 million on a consolidated basis. The consolidated sales only for the last quarter of 2023 reached BGN 74.74 million which is a decrease by 19.9 % compared to the same period of the previous year and by 0.38 % compared to the fourth quarter of 2021.

Based on the results of the first months of 2024, as well as taking into account the seriously downturn revised expectations of the German government for growth in 2024 by only 0.2 % of the economy of Germany, which is the main trading partner of the companies in the group of Stara Planina Hold Plc, we lower our forecast for sales in the first quarter of 2024, expecting them to reach BGN 77.4 million. With this result, we would report a decrease by about 28 % compared to the record high levels of sales achieved in the same period of 2023 and a decrease by about 11 % compared to the first quarter of 2022.

The gross consolidated profit of the Group of Stara Planina Hold Plc as of 31.12.2023 is BGN 47 015 thousand and reports an 8.5 % decrease compared to the gross consolidated profit for the previous year and an increase by 42.43 % compared to gross consolidated profit for 2021.