29.01.2025
Stara Planina Hold Plc announced a Public Notification on the Financial Standing for the fourth quarter of 2024.
Documents:
Explanatory Notes
Financial Report
Declarations
In 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. During the last quarter of the year, the world economy continued facing numerous problems, having a strong impact on global trade and economic relations as a result of the military conflicts in Ukraine and the Middle East, despite the recently reached ceasefire agreement, as well as the continuous increase in defense spending, especially in the European Union. In general, the economic and geopolitical situation in the global plan continues to be characterized by a very high degree of uncertainty, which creates significant risks to the realization of a sustainable and economically logical macroeconomic forecast.
We confirm our forecast that consolidated revenues for the second half of 2024 will decrease by approximately 27 % compared to the same period of the previous year and by approximately 37 % 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 263.4 million, which would represent a decrease by approximately 30 % compared to the previous two years.
We expect sales in the first quarter of 2025 to exceed BGN 69 million which would represent a decrease by about 8 % compared to the same period of 2024 and by approximately 36% compared to the first quarter of 2023.
The net profit of Stara Planina Hold Plc as of 31.12.2024 reached BGN 6.5 million which represents a decrease by 29.7 % compared to the reported net profit of 9.3 million BGN for the previous year and by 19.2 % compared to the net profit for 2022.
The Board of Directors will propose to the regular annual general meeting of shareholders to continue the tradition of distributing part of the financial result for dividends.
June 5th, 2025 is the preliminary date for holding the regular annual general meeting of the shareholders.