SHELLY GROUP BEATS OWN TARGETS FOR Q3

Boleron AD (BLRN) – announced an investor meeting on 17.10.2025 from 10:00 EET on https://meet.google.com/uhs-wtps-xxr where the performance for Q2 2025 and future plans will be discussed.

Green Innovation (HYDR) the company behind the brand Hydrogenera, the hydrogen producing installations, announced they have received a grant by EBRD for EUR 10,500 to cover partially the cost of a project for EUR 15,000 to implement the principles of Lean and the Theory of Constraints in their productional and organizational processes, which will help build sustainable solutions for EU. The grant will help offset the costs, but will also build relationship with EBRD, which can be beneficial further in the growth stage.

Shelly Group (SLYG) announced preliminary consolidated results for Q3 2025, where sales of Shelly devices increased 34.5% YoY to EUR 87.4mln, thus exceeding sales targets for the period. Official results will be announced on 12.11.2025 after the trading session.

Telelink Business Services (TBS) – announced Q2 consolidated results. Revenues for the 6 months increased 28% YoY to EUR 47.1mln, EBITDA increased 18% to EUR 3.4mln and Net Profit decreased 6% to EUR 1.1mln. Profitability margins were all hurt. The public sector is the only driving force behind the growth of revenues, where Enterprise and Telecoms record the same revenues.

ü  Bulgaria recorded a trade deficit of BGN 1,095.4 mln in August 2025, widening sharply from BGN 660.7 mln in the same month last year, as exports dropped more than imports. Year-on-year, exports declined by 10.2% to BGN 6,496.9, with outbound shipments plunging 11.4% to EU and 8.1% to non-EU countries. Meanwhile, imports fell at a softer pace of 2.8% to BGN 7,592.3 mln, primarily due to lower purchases from non-EU countries (-7%), while imports increased from EU countries (0.9%). In the January to August period, the country’s trade shortfall expanded to BGN 11,640.7 mln from BGN 6,621.4 mln the corresponding period of the previous year, as exports decreased by 5.5%, while imports went up by 2.8%.

ü  Construction output grew by 5.9% YoY in August, following a downwardly revised 5.4% in the previous month. The improvement was mainly driven by faster growth in building construction (5.2% vs 4.5% in July) and specialized construction activities (8.6% vs 7.6%). Meanwhile, civil engineering works decelerated (3.3% vs 3.7%).

ü  Industrial production dropped by 8.7% YoY in August, slipping further from an upwardly revised 8.4% fall in the previous month. This marked the ninth consecutive month of decline in industrial activity and sharpest since April, driven by significant decreases in all the sectors. Output continued to decline for electricity, gas, steam, and air-conditioning (-30.8% vs -35% in July) and manufacturing (-4.6% vs -3.5%), while mining and quarrying tumbled by 6.9%, after a 2.1% increase in the prior month.