28.11.2024
Stara Planina Hold Plc announced a Consolidated Public Notice on the Financial Standing for the third quarter of 2024.
Documents:
Financial Notification
Explanatory Notes
Declarations
Against the background of the continued decline in the European economy, decrease in orders from our customers and partners and growing geopolitical uncertainty, the consolidated sales for the nine months of 2024 are in the amount of BGN 204.05 million, reporting a decrease by 32.93 % compared to sales during the same period of 2023 and of over 27.6 % compared to sales reported in the first nine months of 2022.
The consolidated revenues only for the third quarter of 2024 are in the amount of BGN 61.46 million and thus we report a decrease by 33.62 % compared to the same period of the previous year and by 37.58 % compared to the same period of 2022. Our current expectations are that sales in the last quarter of the year will be around BGN 61.6 million. At this stage, with the estimated revenues for the second half of 2024, we expect to report a decrease by around 26 % compared to the same period of the previous year and by approximately 35 % compared to the second half of 2022. On an annual basis, we expect the consolidated sales revenues of Stara Planina Hold Plc to reach BGN 256.6 million thus showing a decrease by approximately 30 % compared to the previous two years.
The macroeconomic development of the country, the unstable political situation, financial policy, as well as geopolitical factors appear to be the most worrisome circumstances that will have an impact on business. Along with the threat to European and regional stability, the geopolitical situation puts at additional risk the supply of energy resources and the possibilities for sustainable growth of the economy. The effect of the measures taken at the European and national level, as well as the countermeasures imposed accordingly, will have an impact on the activities of the enterprises of the group and may lead to an adjustment of the expected business results.