Stara Planina Hold Plc published a public notice on the financial standing for the fourth quarter of 2021 on a consolidated basis.
The reported consolidated results for each quarter of 2021 show a clear trend for sustainable sales growth. Given these results and the optimistic expectations of our partners in Europe and the world, at least until the middle of this year, we confirm our forecasts that the growth in consolidated sales revenue will continue in 2022. The consolidated data show that the sales revenues as of 31.12.2021 are almost 40 % higher than the 2020 sales and over 24 % higher than the reported sales for the pre-crisis 2019.
The consolidated revenues only for the fourth quarter of 2021 reached BGN 74.3 million and thus we report an increase by 39.14 % compared to the same period of the previous year and an increase by 50.71 % compared to the fourth quarter of 2019. Based on the reported results for the second half of 2021 we reached a growth by 50.10 % compared to the same period of the previous year and an increase by 43.91 % compared to the second half of 2019.
Based on the results achieved in the first months of 2022 we revise our sales forecast for the first quarter of 2022 by nearly 7 % and expect them to exceed BGN 84 million. With these results we will report an increase by 32.5 % over the same period of 2021 and a 49 % growth compared to the first quarter of 2020. We expect the revenues for the first half of 2022 to grow by nearly 22 % compared to the same period of the previous year.
The gross consolidated profit of Stara Planina Hold Plc as of 31.12.2021 reached BGN 33045 thousand which is a growth by 41.41 % compared to the reported gross consolidated profit in the amount of BGN 8 096 thousand for the same period of the previous year and an increase by almost 68 % compared to the gross profit for 2019.
Given the escalation of the conflict in Ukraine, as of the date of this notice, we assess the risks associated with securing the supply of materials, as well as the sale of finished products to partners related to the affected region as highly increased. Along with the threat to the European and regional stability, the situation puts an additional risk to the energy supplies and opportunities for sustainable economic growth.