Boleron AD Reports Significant Loss in H1 2024
Boleron AD has reported a post-tax loss of 942,000 BGN at the end of the first six months of 2024. The company, which develops a software platform for insurance sales, revealed its semi-annual report recently.
The loss represents an increase of over 160% compared to the same period in 2023, when the loss was recorded at 357,000 BGN.
Sales Revenue and Operating Expenses
The company generated sales revenue of 10,000 BGN, which remains unchanged from the figure reported at the end of the first half of 2023. Meanwhile, Boleron’s operating expenses for the period surged by 69%, amounting to 1.343 million BGN, compared to 794,000 BGN recorded on June 30, 2023.
Growth Forecast and Plans
At the beginning of 2024, Boleron reported a 126% increase in sales from the previous year and forecasts that its business will double in the current year.
Boleron conducted its first initial public offering on the beam market of the Bulgarian Stock Exchange this year, raising nearly 3.2 million BGN from investors with a target of 4 million euros. The company plans to use these funds to expand its operations in Bulgaria, Romania, and Greece.
Current Partnerships
Currently, the company is collaborating with 11 insurance companies.
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