With investments of ca. BGN 60M since inception and favorable leasing conditions, ELANA Agrocredit’s lean business model is successfully financing small farmers. With strong demand for land and expected ongoing land appreciation in Bulgaria, it is set for growth, at the same time delivering higher than market’s average yields for its investors.
Agricultural land leasing company ELANA Agrocredit (0EA BU) joins bluechip index SOFIX for the first time, the Bulgarian Stock Exchange announced in the new rebalancing to become effective as of 25 September 2018.
Newly-listed poultry producer Gradus (GR6 BU) posted consolidated BGN 76m in revenues and BGN 12.9m in net profit in H1 2018, according to Company’s latest financial statements. Of the BGN 76m, sales revenue made up BGN 64.4m, while other income added BGN 11.6m to the overall top line.
Leading generic pharma company Sopharma expanded H1 2018 consolidated top line 21.5% y/y, bottom line down 25.1% on higher costs due to largescale expansion, according to Company’s latest interim financials.
IT company Sirma Group Holding expanded consolidated top line 29.4% y/y to BGN 28.5m, net income surged 58.9% y/y to BGN 2.8m in H1 2018, according to latest interim financials published by the Company. Sales in Sirma’s top market in Europe added 69.7% y/y to BGN 18.9m, with Bulgarian sales alone advancing 50.9% y/y to BGN 13.5m.
Lead acid batteries producer Monbat’s consolidated revenues down 9.7% y/y, bottom line shrank more than 4x in H1 2018, according to latest financial statements published by the Company. During the first six months, Monbat posted BGN 133.6m in revenues, marking a 9.7% y/y decrease, with exports declining by 2.9% y/y to BGN 122.5m.
Sopharma Trading boosted its standalone revenue by 8.2% y/y to BGN 352m and expanded bottom line by 13% y/y to BGN 8.1m in H1 2018, according to the Company’s interim financial statements. The top line expansion is a result of increase in all revenue streams of the Company.
Radiators producer Korado net profit boosted 20% y/y to BGN 3.2m in H1’18, according to the Company’s latest financial statements. Korado managed to deliver an exceptionally good result despite the 4.4% y/y decrease in the top line which dropped to BGN 20.6m.
In June 2018 ELANA Agrocredit invested in purchase of 700 dca (70 ha) farmland as making financial leasing contracts with farmers, the company announced in its monthly newsletter for investors. The deals amounted at BGN 729 510. That added to a total of BGN 6 033 000 investment in H1 2018.
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