DOVERIE HOLDING SELLS A SUBSIDIARY TO GENERALI

Smart Organic (SO) announced that they have been chosen to be an official reseller of Dr. Hauschka, a 50+ year old brand for natural and organic premium cosmetics. This way, the portfolio of Smart Organic will include a broader range of environmentally friendly products.

Doverie Holding (DUH) announced that they have received a regulatory approval for the sale of their subsidiary “United Health Insurance Fund Doverie” EAD to Generali CEE Holding B.V for BGN 22mln.

Bee Smart Technologies AD (BEE) announced they have registered 4 new industrial designs, which will be the base for a new patent. Additionally, they announced partnership with APTSE (Association for Production, Transport and Storage of Electricity), which will be an important step to utilize renewable energy. Furthermore, their educational program for beekeepers is gaining popularity.

ITF Group AD (ITF) announced their 2024 performance, where they increased loans by 50% leading to increased revenues by 60% and Net Income by 74%. Additionally, during the year they paid out their first dividend and were able to place a corporate bond in April collecting EUR 3.9mln paying out 13% p.a. to investors with maturity in 60 months.

ü  The Bulgarian economy expanded by 3.1% year-on-year in the fourth quarter of 2024, accelerating from a 2.4% rise in the previous period, preliminary estimates showed. This marks the steepest economic growth since the third quarter of 2022, driven by a stronger rise in final consumption (5.8% vs 4.8%), and a rebound in fixed investments (0.7% vs -0.9%). Meanwhile, net trade contributed negatively to the GDP, as exports dropped 3.2% (vs -0.6%), while imports rose 1.2% (vs 3%). On a quarterly basis, the GDP grew 0.8%, maintaining the same pace as the revised figure from the prior period.

ü   The annual inflation rate accelerated to a one-year high of 3.7% in January 2025, up from 2.2% in the previous month. Main upward pressure came from prices of food & non-alcoholic beverage (4.4% vs 2.8% in December) and housing & utilities (5% vs 2.8%). Prices also increased for alcoholic beverages & tobacco (7.2% vs 6%), health (2.4% vs 1.8%), recreation & culture (5.3% vs 3.7%), restaurant & hotels (9.5% vs 7.5%), and miscellaneous goods & services (4% vs 3.4%). At the same time, transport costs rebounded (3% vs -0.6%). On a monthly basis, consumer prices climbed 2% in January, the highest since April 2022, following a 0.4% rise in the prior month.