In a letter to shareholders, the Board of Directors (BoD) of Stara Planina Hold Plc announced that it anticipates 39% y/y expansion in consolidated sales to BGN 277.7 m in FY21, which will continue in FY22 reaching BGN 307m (up 10.6% y/y). Group’s forecasts include 17% y/y revenue growth in H1’22, followed by 4% y/y growth in H2’22.
Stara Planina expects FY2021 individual net profit to exceed BGN 7.8m (54% y/y up) and is confident that this will allow them to keep its 25 year uninterrupted tradition of distributing dividends to its shareholders. Please note FY20 dividend’s payout ratio was 80% (to FY19 individual net profits) with a DY of 3.6%.
In addition, the investments of the Holding’s enterprises reached BGN 13.6m mostly in the field of technological improvement and innovations, infrastructure and development of photovoltaic systems. Stara Planina plans a 48% y/y growth of investment in FY22 aiming to improve the product range, introduce higher margin products, stimulate green and digital innovations, increase labor productivity and employees compensation.