30.10.2024
Stara Planina Hold Plc announced a Public Notification on the Financial Standing for the third quarter of 2024.
Documents:
Explanatory Notes
Financial Report
Declarations
During the nine months of 2024, the operations of the companies in the Group of Stara Planina Hold Plc continued being conditioned by the influence of a number of negative factors on a national and global scale. In general, the economic and geopolitical situation globally continues to be characterized by a high degree of uncertainty that creates significant risks to the realization of a sustainable and based on economic logic macroeconomic forecast. Expectations for a continued negative development of the economy are also expressed in the manufacturing PMI index, as the data for the month of September 2024 show that for the euro zone it reached a value of 45 points which is the lowest level since the beginning of the year and testifies for another month of contraction of the industrial sector in Europe.
In this context, the companies in the group of Stara Planina hold Plc report results that confirm our projected expectations for a continuous decline in sales revenues. Against the background of the continued decline in the European economy, decrease in orders from our customers and partners and growing geopolitical uncertainty, we adjust our expectations for the consolidated revenues for the third quarter of 2024 to reach BGN 60.1 million which would mean a decrease by approximately 33 % compared to the same period of the previous year and a decrease by about 28 % compared to the third quarter of 2022.
We update our expectations by predicting sales in the last quarter of 2024 to be around BGN 60.6 million. With the estimated revenue for the second half of 2024, we would report a decline by around 28 % compared to the same period of the previous year and by approximately 37 % compared to the second half of 2022. We confirm our forecasts that the decline in consolidated sales revenue compared to the previous two financial years will continue throughout 2024, lowering our forecasts for sales in 2024, expecting them to reach BGN 263.23 million.
The net profit of Stara Planina Hold Plc as of 30.09.2024 reached BGN 6 927 thousand which represents a decrease by 28.18 % compared to the reported net profit of BGN 9 654 thousand for the same period of the previous year and by 17.62 % compared to the profit for the nine months of 2022.