Market Overview (10 Mar – 14 Mar) The main Bulgarian index SOFIX decreased this week by 0.77% to 896.14 points. The broad index BGBX40 decreased this week […]
Q4 Consolidated Results Lead To a Sell Off
| Market Overview (23 Feb – 27 Feb) | |
| The main Bulgarian index SOFIX decreased this week by 3.65% to 1303.59 points. The broad index BGBX40 decreased this week by 3.08% to 222.01 points and BGREIT decreased this week to 227.77 points, down by 1.12%. | |
| Corporate News | |
| Trace Group (T56) announced a GSM on 30.03.2026 with the main point to vote for a share buyback scheme for up to 3% of the outstanding shares for the duration of 5 years, with minimal price EUR 2.00 per share and maximum price of EUR 10.00 per share. Additionally, they posted the consolidated results for Q4 2025 where total revenues dropped 31.6% to EUR 234mln. Net Profit decreased 61% to EUR 6mln mainly due to the smaller decrease in OPEX, driven by the 25% decrease in external services to EUR 120.2mln and the increase in personnel expense by 10% to EUR 26.2mln. It is worth noting that Trace Group’s revenues are highly dependent on the contracts, where they can participate and the receivables from the municipalities, which are then dependent on the political situation in the country. ST receivables dropped by 25.9% to EUR 146.2mln and LT receivables increased 15.3% to EUR 12.8mln.
Telematic Interactive (TIB) published their Q4 consolidated results. Revenues increased 3.5% to EUR 70.7mln. Profitability, however, suffered with EBIT dropping 20.2% to EUR 8.1mln and Net Profit dropped 30.6% to EUR 6.7mln. We have covered TIB here. Sopharma AD (SFA) published consolidated Q4 results. Revenues increased 17.6% to EUR 1.175bn. The tight control on expenses, however, increased EBIT over 35% to EUR 42mln and Net Profit shot up 64% to EUR 32.5mln. Monbat (MONB) published Q4 cons results, where revenues increased 3.9% to EUR 206.8mln, EBIT rose 6.4% to EUR 6.4mln, but the massive indebtedness ate the Net Profit, which fell 65% to EUR 0.3mln. LT loans remained the same, but ST loans increased 3.5% to EUR 62.7mln. Shelly Group (SLYG) published Q4 results, where revenues jumped 40% to EUR 149.7mln but EBIT increased just 17% to EUR 30.3mln where personnel expense within OPEX weighted in doubling to EUR 24mln. The big change is due to variable compensation to higher management as a result of the positive performance in 2025.
ü Tourist arrivals rose 6.9% YoY to 790.3th in January, with growth recorded across all travel purposes. Visits for holiday and recreation totaled 307.2th, professional trips 111.0th, and other purposes 372.1th. EU citizens accounted for 54.2% of total arrivals, led by Romania (37.6%) and Greece (31.2%), followed by Germany (4.1%), Italy (3.9%), and Austria (3.2%). ü Producer prices rose by 11.3% from the previous year in January, picking up from the 9.6% increase from the earlier period to reflect the sharpest increase in four months. The rise was led by a 50% surge in costs of mining and quarrying, amid a 91.3% increase in mining of coal and 48.5% surge in mining of metal ores. ü Bulgaria’s business climate in industry rose to 16.3 in February 2026. This marked the highest reading since April 2025, as firms reported an improved current business situation (19.0 vs 16.6), while production expectations for the next three months strengthened further (12.3 vs 10.5) and employment outlook picked up (4.6 vs 1.8). Six-month business expectations, however, eased slightly (13.6 vs 14.5). |
The full report can be viewed here.