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Bulgaria's Elhim Iskra lowers 4-mo sales 21%, expects 30% drop in H1

Author Mario Tanev
Bulgaria's Elhim Iskra lowers 4-mo sales 21%, expects 30% drop in H1 Author: Elhim Iskra / All rights reserved.

SOFIA (Bulgaria), May 21 (SeeNews) - Bulgarian car battery manufacturer Elhim Iskra [BUL:52E] said on Thursday that its sales fell 21% to 10.4 million levs ($5.8 million/5.3 million euro) in the first four months of the year, and are expected to decrease by over 30% in the first half of the year.

Elhim Iskra posted a gross loss of 316,000 levs in the January-April period of 2020 and expects to generate further losses in May and June, the company said in a bourse filing.

In April alone, Elhim Iskra generated revenue of 2.3 million levs and a gross loss of 193,000 levs. The company expects to book revenue of 1.7 million levs in May.

Elhim Iskra is part of blue-chip diversified group Stara Planina Hold [BUL:5SR].

The Pazardzhik-based company exports over 90% of its output.

(1 euro = 1.95583 levs)

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