BREF AND SPEEDY SHOW OUTSTANDING RESULTS

Eleven (11C) published 2024 results. Net change of the value of the portfolio was lower than last year’s, so income from that was BGN 9.4mln, while revenues from dividends rose 59% to BGN 1.8mln. Additional charge of BGN 0.431mln for the executive director helped drop operating profit from BGN 11.8mln to BGN 10.3mln. Annual profit dropped 12% to BGN 9.4mln.

Bulgarian American Credit Bank (BACB) published 2024 results, where operational revenue increased 7.2% to BGN 117.4mln driven by 8.6% increase in Net interest income to BGN 101.5mln. Net income dropped 12.1% due to devaluation of financial assets (from BGN 8.4mln in 2023 to BGN 16.7mln in 2024 due to loan portfolio restructuring).

BREF (BREF) published 2024 results. Revenues jumped 16.8% to BGN 26.4mln driven by 34.5% increase in rent income to BGN 10.8mln stemming from the newly leased areas in their Synergy Tower location. Additionally, the profit from the value changes of the portfolio increased from BGN 13.9mln to BGN 15.4mln. In the same time, OPEX decreased from BGN 6.1mln to BGN 6mln, which lead to Net Profit soaring 23.5% to BGN 20.4mln.

Wiser Technology (WISR) was the winner of the “Innovation” award by the CCIFB (The French-Bulgarian commercial and industrial chamber) for their RoadSense product which is a system using AI and data from satellites, meteorological and traffic sensors, road cameras and car video cameras to increase road safety, conduct traffic analysis and find spots with high risks.

ü  The number of tourist arrivals rose by 3.1% YoY to 720.6 th in February, rebounding from a 0.3% fall in the previous month. An increase in trips with professional purposes (10.5%), those with holiday and recreation purposes (3.4%), and those with other purposes (0.8%). The EU was 53.6% of the total visits to Bulgaria, with Romania (44.3%) on top, followed by Greece (25.6%). Meanwhile, arrivals from the other European countries accounted for 39.4% of the total, mainly from Turkey (55.2%).

ü  Producer prices advanced by 16.3% YoY in February, following a 12.5% increase in the previous month. This marked the highest producer inflation since January 2023, as prices accelerated for all sectors namely; mining and quarrying (30.9% vs 28% in January), manufacturing (12.1% vs 9.1%), and electricity, gas, steam and air-conditioning supply (44.3% vs 35.2%). On a monthly basis, producer prices rose by 2.8% in February, slowing from an over three-year high of 4.9% in the preceding period.