Market Overview (29th November– 3rd December)

The main Bulgarian index SOFIX increased by 0.98% this week, up to 624.54 points. The broad index BGBX40 increased by 0.37% to 140.08 points. BGREIT decreased this trading week to 164.93 points, down by 0.53%.

Corporate News                                                      

Sopharma AD (SFA) reports growth of 15.8% YoY to BGN 1,179bln in revenue for the consolidated first nine months of 2021. The net profit for the same period has risen by 205.5% to BGN 53,5mln. The group reports a 14.5% growth in the revenue from sales of finished goods in Serbia and a 12.3% decrease in Russia.

Doverie United Holding AD (DUH) released its consolidated financial results for the first nine months of 2021. Over half of the group’s revenue comes from the Moldavian bank. The total net income from bank operations for the first 9 months of the year is BGN 97,427mln, up by 25.5% YoY. On the other side, the net income from the other business sectors is BGN 39,519mln, up by 20%. The total comprehensive income for the period reaches BGN 47,517mln, up from 12,097mln last year.

Speedy (SPDY) published the consolidated financial statements for first nine months of the year. The online retail sales continue to boost the company’s revenue – 21.5% growth on annual basis. Higher growth is recorded from the international market – 27% to BGN 115mln, compared to the 17% growth in the domestic market, similarly up to 115mln. The net income for the period is BGN 21,841mln, up by 12%.

Eurohold AD (EUBG) reports BGN 328mln revenue from the energy business in Q3. The total revenue at the end of September amounts to BGN 1,781bln, up by 49% YoY. The net income for the period is BGN 4,353mln, compared to the (12,849mln) from last year.

Economic News                                                       

Producer prices in Bulgaria advanced 24.1% YoY in October of 2021, from a 20% rise in the previous month. It was a fresh record high in producer prices since available records in 2001, as prices rose for mining & quarrying (14.3%); manufacturing (17.4%); and electricity, gas, steam & air conditioning supply (47%).

Active COVID-19 cases in Bulgaria are on a decreasing trend with a 7-day MA of 1,972 cases. The active cases at the end of the week were 100,811. The total number of fully vaccinated people so far is 1,802 mln, which is 25.94% of the population in Bulgaria.

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