January 29 (SeeNews) - Bulgarian car battery manufacturer Elhim Iskra [BUL:52E] said on Wednesday that its net profit edged down to 469,000 levs ($264,000/240,000 euro) in 2019 from 493,000 levs the year before.
Elhim Iskra's revenue fell to 33.6 million levs last year from 36.9 million levs in 2018, figures from the company's annual financial statement show.
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The company's revenue was hurt by the lower prices of batteries in 2019 and the lower exports to European markets, especially Italy and Germany, Elhim Iskra noted.
The battery maker's operating expenses decreased to 33.1 million levs from 36.4 million levs in 2018, largely due to a decrease in expenses for buying lead.
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)