Market Overview (31 Mar – 4 Apr) The main Bulgarian index SOFIX decreased this week by 3.44% to 879.39 points. The broad index BGBX40 decreased this week […]
Shelly Group and Fibank reported strong profit growth for Q2 2025, while Speedy’s revenue remained flat.
| The main Bulgarian index SOFIX increased this week by 0.32% to 1057.33 points. The broad index BGBX40 increased this week by 0.16% to 193.15 points. BGREIT decreased by 0.34% this trading week to 230.02 points. | |
| Corporate News | |
| Fibank (FIB) saw a significant jump in its financial performance for the second quarter and the first half of 2025, driven by key factors despite a decline in total operating income. The bank’s consolidated net income for Q2 2025 reached BGN 72.1m, a substantial 130% increase YoY. This translates to an earnings per share (EPS) of BGN 0.48, with subsidiaries contributing BGN 11.5m to the bottom line. Net interest income grew by 7.2% YoY. However, total operating income fell by 19.7% to BGN 120.7m due to a sharp increase in net other operating loss, which was driven by a BGN 52.5m loss on debt instruments. The bank’s profitability was significantly lifted by a BGN 46.5m revaluation of investment property and a BGN30.4m decrease in credit provisions. For the first half of 2025, Fibank’s consolidated net income soared by 128.9% YoY to BGN 127.5m, with an EPS of BGN 0.86. Total operating income increased by 4.3% YoY, primarily driven by growth in net interest income and, to a lesser extent, an increase in net fees and commissions. Similar to the second quarter, the revaluation of investment property and lower credit provisions were crucial in boosting the bank’s overall profitability for the half-year.
Wiser Technology (WISR) has officially introduced its new product, the Wiser AI Factory. This next-generation solution is designed to help large companies fully harness the power of artificial intelligence. In a press release, the company noted that the platform’s initial results are very promising. For example, the Wiser AI Factory recently helped the company secure a high-profile “AI concierge” project in Saudi Arabia. Speedy (SPDY) experienced mixed results in the second quarter of 2025. While consolidated revenue remained almost flat, the company saw a decline in parcel volume, offset by a higher average revenue per parcel. Speedy’s consolidated revenue for Q2 2025 was BGN 125.9m, a slight 0.2% increase YoY. International revenue grew by 7.1% to BGN 64.8m, while revenue from the domestic market decreased by 4.5% to BGN 59.3m. The number of parcels delivered dropped by 7.3% to 17.9m. However, this was balanced by a 9.3% increase in the average revenue per parcel, which reached BGN 6.94. Operating expenses remained stable, increasing by only 0.1%. This led to a 0.9% rise in EBITDA to BGN 19.9m. Despite this, net profit fell by 4.9% to BGN 7.6m, primarily due to a 12.9% increase in depreciation costs. For the first half of 2025, Speedy’s consolidated revenue grew by 4.6% YoY to BGN 261.2m. Operating expenses increased by 2.2%, but the company’s EBITDA rose by a healthy 13.7% to BGN 48.5m. Consolidated net profit also grew by 4.6% to BGN 22.4m, with earnings per share (EPS) at BGN 4.17.
ü June’25 current account was positive at EUR 208.1m, compared to EUR 74.1m surplus in Jun’24. As a result, the YtD negative balance came to EUR 2.4bn (2.2% of GDPe), compared with a deficit of EUR 1bn a year ago. Total exports (18% of GDPe) for the Jan-Jun period decreased by 4% YoY to EUR 20.2bn, while imports during the same period (21.4% of GDPe) increased by 3.8% YoY to EUR 24.1bn. The result was EUR 3.8bn (3.4% of GDPe) trade deficit, compared to EUR 2.1bn a year ago. Meanwhile, the services balance recorded a surplus of EUR 3.6bn (3.2% of GDPe), registering a 7.9% increase compared to a year ago. |
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