Decrease in Company Expenses
The expenses of the company have decreased by nearly 10%, with the largest drop being in material costs.
Profit Increase for “Korado-Bulgaria” AD
The profit of “Korado-Bulgaria” AD for the first six months of the year amounts to 1,612 million BGN – a 56% increase compared to the same period in 2023 when it reached 1,035 million BGN, as shown in the financial report of the radiator manufacturer published in x3news.com.
Sales Revenue Decline
The sales revenue for the period amounts to 16,224 million BGN – an 8% decrease compared to June 30, 2023, when it was 17,694 million BGN.
Company Expenses in the First Half of 2024
The expenses at the end of the first half of the year amount to 15,376 million BGN and decrease by nearly 10% compared to the same period of the previous year, when they were 17,024 million BGN. The most significant decrease is in material costs – by 20% (from 12,788 million BGN to 10,234 million BGN).
Production of Panel Radiators
By June 30, 2024, the company has produced 113,410 units of panel radiators for water heating. The radiators produced in the first half of 2024 are almost half of those reported two years earlier, when 212,247 units were produced (a decrease of 47%). Compared to the first half of the previous year, the production is also lower.
Decrease in the Production of Heating Appliances
There has been a slight increase observed – with 458 units (0.4%).
Significant Drop in the Number of Heating Appliances
A significant decrease has been registered in the number of tube heaters. In the first half of 2022, 51,468 units were produced, while by the end of June 2024, there were 32,373 units – a decrease of 37%. Compared to 2023, the decrease is 34% (16,813 units).
Sales Overview for 2024
In 2024, the company’s clients are mainly in the European market, with a significant portion of sales being made to the parent company in the Czech Republic. In the first half, “Korado-Bulgaria” sold 142,439 heating appliances, with just over 1% of sales realized in the t.
The History of Bulgaria
Bulgaria has a rich history that dates back centuries. The country has experienced a 13% decrease in the volume of products sold to EU countries, while sales to non-European Union countries have seen a 28% increase. Sales to Bulgaria have decreased by 15% compared to the same period in 2023.
Over the past year, the shares of “Korado-Bulgaria” AD have increased by 5%, with a market capitalization reaching 64 million BGN.
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