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Business Industry Capital
BIC Capital Market Ltd. 
ISSN 1311-364X
Thursday, 18 September 2025, Issue 6522
  Bulgaria   Investments   Bulgarian Industrial Association   World   Discover Bulgaria

       Bulgaria
 
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BNB Exchange Rates
(18.09.2025)
  EUR   1.95583  
GBP   2.25456
USD   1.65230
CHF   1.10324
EUR/USD   1.1837*
ECB exchange rate
Basic Interest Rate
  as of 01.09   1.82%  


Bulgarian Stock Exchange - 17.09.2025
Total turnover (BGN): 1 498 570.84  
Traded companies: 43
Premium 56 087.98
Standard 893 574.44
REIT 126 431.20
Structured 8 288.00
EuroBridge 95 635.88
BEAM - Shares: 318 553.35
BaSE - Shares: 15 019.99
BaSE - REIT: 1 266.00
Biggest change
Toplofikacia - Burgas SPJSC - Bourgas 2.63 %
Toplofikacia Rousse JSC - Rousse -2.50 %

Manufacture of perfumes and toilet preparations
BEIS rating
Top 10 companies by
Number of
employees
for 31.12.2024
  
  1   Rubella Beauty JSC - Roudozem   205  
  2   Solvex Cosmetic Products LTD - Krichim   141  
  3   Refan Bulgaria SPLTD - Trud   130  
  4   STS Holding Group LTD - Gabrovo   127  
  5   Agiva LTD - Aksakovo   119  
  6   Bio Fresh LTD - Tzaratzovo   115  
  7   N&K Cosmetics Developments LTD - Radomir   77  
  8   Star Nails Bulgaria LTD - Plovdiv   63  
  9   Alteya Organics LTD - Stara Zagora   61  
  10   Biotrade Bulgaria LTD - Sofia   49  
Make your own Bulgarian companies rating in BEIS
General meetings today
  Asarel Panagyurishte Zdrave JSC - Panagyurishte
Energoremont - Galabovo JSC - Galabovo
Glavbolgarstroy Holding JSC - Sofia
Heidelberg Materials Vulkan JSC - Dimitrovgrad
Imeris Minerals Bulgaria JSC - Kurdzhali
Park-Hotel Sankt Peterbourg JSC - Plovdiv
Patingenering JSC - Rousse
Patni Stroeji 2001 JSC - Bourgas
Rhodope Hydropower Plant
Ritex JSC - Kazitchene
Rodina Haskovo JSC - Haskovo
Rodina JSC - Haskovo
Seacom JSC - Varna
Stariat Plovdiv JSC - Plovdiv
Toplofikacia - Pernik JSC - Pernik
UNIQA Insurance JSC - Sofia
UNIQA Life Insurance JSC - Sofia
VDH JSC - Sofia
Zebra JSC - Novi Iskar
 
Forthcoming General Meetings



Financial news

Seasonally adjusted industrial production data for July 2025, compared to June 2025, show an increase of 0.2% in the EU and 0.3% in the euro area, according to preliminary Eurostat data. Industrial production in June 2025 fell by 0.4% in the EU and by 0.6% in the euro area. Industrial production in July 2025, compared to July 2024, increased by 1.8%, both in the EU and in the euro area. Industrial production in the EU in July 2025, compared to June 2025, increased by 0.3% for intermediate goods, by 0.9% for capital goods, by 0.6% for durable consumer goods and by 1.3% for non-durable consumer goods, and decreased by 2.1% for energy. Industrial production in the euro area in July 2025 increased on a monthly basis for intermediate goods by 0.5 percent, for capital goods by 1.3 percent, for durable consumer goods by 1.1 percent, and for non-durable consumer goods by 1.5 percent, and decreased by 2.9 percent for energy. The largest monthly increases were recorded in Croatia (2.6 percent), Hungary and Slovenia (both 2.1 percent). Estonia (-5.5 percent), Malta (-4.7 percent) and Sweden (-3.9 percent) reported the largest declines. In Bulgaria, industrial production in July 2025 compared to June 2025 remained unchanged. Industrial production in the EU in July 2025, compared to July 2024, increased for capital goods by 2.4 percent and for non-durable consumer goods by 5.2 percent, and decreased for intermediate goods by 0.7 percent, for energy by 0.6 percent and for durable consumer goods by 0.3 percent. Industrial production in the euro area in July 2025 increased on an annual basis for capital goods by 2.1 percent and for non-durable consumer goods by 6.6 percent, and decreased for intermediate goods by 0.9 percent, for energy by 0.5 percent and for durable consumer goods by 0.1 percent. The largest annual increases in July were recorded in Latvia (9.8 percent), Ireland (8.1 percent) and Sweden (4.1 percent). Bulgaria (-8.3 percent), Luxembourg (-4.7 percent) and Slovakia (-4.6 percent) registered the largest declines.

Source: 3e News

In 2024, 8891 books were published with a circulation of 5,297,385 copies and 1252 brochures with a circulation of 1,009,001 copies, according to data from the new publication of the National Statistical Institute (NSI) "Book Publishing and Printing 2024", the NSI announced. Of all the books published last year, scientific literature had 2256 titles with a circulation of 364,000; fiction for adults - 3024 titles with a circulation of 1,464,000; popular literature - 1800 titles with a circulation of 875,000; educational literature - 1379 titles with a circulation of 2,362,000; literature for children and adolescents - 1331 titles with a circulation of 1,100,000. 7545 books and brochures were published in the original language of writing (including Bulgarian), and 2598 translated titles. At the end of August, the NSI announced that in 2024, 6015 books were published in the Sofia district (capital) with an annual circulation of 4,557,000; 898 brochures with an annual circulation of 828,000; 77 newspapers with an annual circulation of 85,832,000. Compared to the previous year, in 2024, the number of published books and brochures increased by 26 (0.4 percent), the average circulation increased from 630 in 2023 to 779 in 2024, or by 23.7 percent, and the number of published newspapers decreased by 5 (6.1 percent), and their circulation increased by 7,858,000 (10.1 percent), the national statistics office indicated at the time.

Source: 24 chasa

image

Portfolio of 29 PV plants with total capacity of 861.3 kWp

Price: 680,000 EUR.

Location: Near "Trakia" (A1) highway

Project overview:

  • Fully built and operational photovoltaic power plants (PV) with a total capacity of 861.3 kWp
  • Total area: about 40 decares of owned land in the regions of Plovdiv and Stara Zagora
  • PV: installed with 29 plants, each with a capacity of 29,700 Wp
  • 3 additional properties, with possibility for construction
  • Eco construction: the plants are built on ecological structures (gabions), without concrete, easy to dismantle and relocate

Contacts:

0888 924185

sfb@bia-bg.com

Companies

For the last 3 reporting years (2022-2024), a total of 65 Bulgarian companies have reported revenues over 1 billion BGN in their annual accounting reports. Of these, 47 in 2022, 42 in 2023 and so far for 2024 - 22, but with the proviso that most of them have not yet announced their financial results for 2024 in the Commercial Register. So far, the companies with the highest revenues for 2024 are: National Electric Company EAD - Sofia, Nomad Energy Company EOOD, BA Glass Bulgaria AD - Sofia, Lidl Bulgaria EOOD & Co KD - Ravno Pole, Astra Bioplant EOOD - Slivo Pole, DSK Bank EAD - Sofia, Kozloduy NPP EAD - Kozloduy, Heidelberg Materials Devnya AD, Unicredit Bulbank AD - Sofia, Tabaco Trade OOD - Plovdiv. The financial results for 2024 have not yet been announced by companies such as: Lukoil Neftochim Burgas AD - Burgas, Aurubis Bulgaria AD - Pirdop, Lukoil-Bulgaria EOOD - Sofia, Bulgargaz EAD - SofiaKaufland Bulgaria EOOD & Co KD - Sofia and Saksa OOD - Dolna Banya, which in the previous 2023 reported revenues of over 2 billion BGN. You can follow the current ranking of the largest Bulgarian enterprises (by turnover, profit, fixed assets, number of employees, etc. in general, by sectors and regions) in the Bulgarian Enterprise Information System - BEIS.

Nearly 124 million passengers were transported in the Sofia Metro last year. In comparison, almost 94 million passengers were transported in 2023. Currently, the Sofia Metro has 298 locomotives, which equals 82,574 passenger seats. The trains run on a total of 50 km of lines.

Source: BTA

The hotel cosmetics company "Laren MN" will start production in its own factory next year. The building is already ready and is about to be launched. Production will be transferred there from the small premises next door, where Kremena Karaulanova's company has been making its products since 2023. "Laren MN" started its business as a distributor of cosmetic products for hotels, but a few years ago decided to switch to its own production and build a factory in the Stara Zagora village of Yulievo. Initial expectations were that it would be completed in 2023, and the investment was estimated at 1.8 million leva. Two and a half years later, the value of the project is already 2.5 million leva and the factory is awaiting Act 16. "Laren MN" has ceased distribution of foreign products and is focusing entirely on marketing its own products. The company's sales for 2024 are 2.57 million leva, which is a decrease of 2% year-on-year, after a significant increase (nearly 44%) compared to 2023. "Laren MN" is already present as a distributor in countries such as Greece, Romania, Croatia and Hungary in small quantities and the goal will be to organically expand this presence. "Laren MN"'s growth plans include entering new segments and a patented product.

Source: Capital

The Bulgarian pharmaceutical company "Biovet" AD donates 19.2 decares of land in the town of Peshtera, owned by the company, in support of the Trust for Social Alternative's program "Regulation and Housing Conditions", aimed at regulating and legalizing neighborhoods outside regulation, implemented in partnership with the Community Investment Fund - Peshtera. Within the framework of this program, the Trust for Social Alternative, with the support of the America for Bulgaria Foundation, and in partnership with the Peshtera municipality and Biovet, is working to include the properties in the Oreshaka area (Pirin district) in a detailed development plan, so that each house is located on a separate plot. Peshtera is the first municipality to successfully implement the model developed by the experts of the Trust for Social Alternative. The donation will enable 43 households from socially vulnerable communities, whose current homes are located on these properties, to acquire them with a regulated legal status and purchase the land.

Source: BTA

After reporting a symbolic profit of 117,000 leva for the first quarter, the state-owned "Mini Maritsa-Iztok" is again at a loss despite its increased revenues. The company, whose activities are entirely dependent on the coal-fired power plants in the region, is at minus 115 million leva for the first half of the year compared to 76 million leva a year earlier. For the period January - June, the company realized 189.5 million leva in operating income (compared to 116 million leva for the same period last year) and a corresponding 112 million leva in operating loss (compared to 74 million leva a year earlier), shows the company's interim report for the second quarter. The company's total revenues grew by 63%, but are clearly not enough to temporarily stabilize the company. The increase comes from a 66% increase in coal sales to 171 million leva. However, their price (which is regulated and determined by order of the Minister of Energy) has not been changed for years and remains 87.35 per ton of conventional fuel. Against the background of revenues of 189.5 million leva, total expenses are 301 million leva, with the reported increase in them being nearly 60% compared to the same period last year. And more specifically - there is an increase in the costs of materials, including electricity, fuels and the costs of external services. The largest share is the increase in electricity costs, which are an element of the costs of materials, compared to those reported for 2024 by 11.8 million leva, or an increase of 67% to 29.4 million leva. Over half of the total costs are for personnel. They increased by 11.5% to 166.8 million leva, but not because of an increase in salaries, but because of an increase in the "social expenses" item. The average number of employees decreased by 349 compared to June 30, 2024 and is now 6,299, but some of these positions are vacant. It is expected that for the first half of the year, the Maritsa-East 2 TPP will have the highest share of 46% in coal sales. Sales to ContourGlobal Maritsa-East 3 have fallen by 29% in just one year, and the explanation is that its long-term energy purchase contract expired at the beginning of 2024. Coal sales to the other "American" TPP - "A&S-3S Maritsa-East 1", increased by 222%, and a modest (against this background) increase was also recorded in coal sales to the "Brickel" power plant associated with businessman Hristo Kovachki.

Source: Capital


image

Plot of 111 decares with a newly built 4.9 MWp photovoltaic plant (56 decares) and an adjacent free plot (55 decares) with development potential at a key location in the city of Blagoevgrad

Price: 11,500,000 EUR.

Location: Blagoevgrad

PV Plant Equipment:

  • Panels: Ultra V Pro STP560S-C72/Nsh+ (8,750 pcs x 560 Wp)
  • Inverters: Solax – 98 units, 50/55 kW
  • Area: ~ 56 decares

Undeveloped land:

  • Area: ~ 55 decares
  • Аgricultural land (Category 5) with the option for rezoning
  • Near Struma Highway and the borders with Greece and the Republic of North Macedonia

Contacts:

 +359 888 924185

sfb@bia-bg.com

       Investments


       Bulgarian Industrial Association




       World

Europe

The number of new passenger car registrations in the EU countries in the first half of 2025 decreased by 1.9% to 5.577 million compared to 5.684 million a year earlier, the European Automobile Manufacturers Association (ACEA) reported. Sales in Germany decreased by 4.7%, in Italy - by 3.6%, in France - by 7.9%, while in Spain an increase of 13.9% was recorded. Especially for Bulgaria, whose market is defined as small, an increase of 4.6% was recorded - to 24,083 in June 2024. The number of new cars sold in Europe as a whole (EU plus Iceland, Norway, Switzerland and the United Kingdom) decreased by 0.9% to 6.815 million. In the United Kingdom, sales increased by 3.5% and reached 1.04 million cars. Sales of electric vehicles in the EU in the period January-June increased by 22% to 869,270. Sales of Volkswagen Group (including Skoda, Audi, Seat, Porsche, etc.) in the European Union decreased by 7.8%, of Stellantis - by 16.1%, of Renault - by 0.5%. German luxury car manufacturer BMW AG increased its sales by 11.6%, and its main competitor Mercedes-Benz - by 2%. In contrast, sales of Japan's Toyota Group decreased by 11%, and of South Korea's Hyundai Group - by 11.8%. American electric car manufacturer Tesla sold 20,350 cars in the European Union in the first half of the year, which is 39.5% less than a year earlier. In June, car sales in the EU decreased by 7.3% and amounted to 1.01 million. At the same time, the number of electric car registrations increased by 7.8% - to 168.49 thousand.
Source: 3e News

America

Global debt has stabilized, though it remains high, as a continued decline in private sector lending offsets higher government borrowing, the International Monetary Fund (IMF) said. Total debt was little changed from last year, at just over 235 percent of global gross domestic product (GDP), according to the latest update of the IMF’s global debt database. Private debt fell to below 143 percent of GDP, the lowest level since 2015. The data reflected a decline in household liabilities and little change in the debt of non-financial corporations. In contrast, public debt rose to nearly 93 percent of GDP, the Fund said. In nominal terms, in U.S. dollars, total debt rose slightly to $251 trillion. Public debt rose to $99.2 trillion. $151.8 trillion, while private debt fell to $151.8 trillion. These global averages mask notable differences across countries and income groups. While the United States and China continue to dominate global debt dynamics, as the IMF’s Fiscal Monitor shows, debt and deficit levels in many countries, both developed and developing, are alarmingly high by historical standards. In the United States, public debt rose to 121 percent of GDP last year (from 119 percent). In China, debt rose to 88 percent of GDP (from 82 percent). Excluding the United States, public debt in advanced economies fell by more than 2.5 percentage points to 110 percent of GDP. The increase in some large, advanced economies, such as France and the United Kingdom, was offset by a decline in Japan and smaller economies, such as Greece and Portugal. With the exception of China, public debt in emerging economies has fallen on average to below 56% of GDP. Private debt trends vary considerably across countries. The United States saw a significant decline of 4.5 percentage points to 143% of GDP, while China saw an increase of 6 percentage points to 206% of GDP. Among other emerging markets, private borrowing has been increasing sharply in larger economies, such as Brazil, India and Mexico, but declining in Chile, Colombia and Thailand. The persistently high global fiscal deficit, averaging around 5% of GDP, is the main driver of rising public debt. In China, the increase in private debt has been driven by non-financial corporate debt. Despite ongoing weakness in the real estate sector, the increase reflects the still ample supply of credit, particularly in support of strategic sectors. In contrast, household debt has been declining slightly as weak mortgage demand and concerns about employment and wage growth continue to weigh on lending. In other large emerging economies, rising private debt stems from high interest rates and their impact on non-performing loans (e.g. in Brazil), improved short-term growth prospects (in India), and corporate mergers and acquisitions. At the same time, weaker growth prospects are leading to a decline in private debt in countries such as Colombia or Thailand. In low-income countries, debt dynamics reflect a number of additional factors. These include more limited financial development, tight liquidity conditions, and crowding-out effects related to the link between sovereign and private debt.

Source: investor.bg

The US Federal Reserve (Fed) cut its key interest rate by 0.25 percentage points, setting the target range for the federal funds rate between 4.00 and 4.25 percent. The cut is the first this year after the central bank cut rates three times in 2024. Thus, since December 2024, the central bank has kept rates at 4.25 percent - 4.50 percent. The cut was widely expected amid signs that the central bank's focus is shifting to employment and away from inflation after a sharp slowdown in hiring in recent months. Two more rate cuts are expected by the end of 2025. Economic forecasts published after the meeting point to a slight acceleration in growth compared to June forecasts, while the outlook for inflation and unemployment remain unchanged. Consumer spending remains strong, but the labor market is seen as fragile. The unemployment rate hit 4.3 percent in August, the highest level since October 2021. New data from the Bureau of Labor Statistics shows that the economy created nearly 1 million fewer jobs in the 12 months through March 2025 than initially reported. At the same time, the U.S. economy is in a state of uncertainty. Hiring is slowing sharply and inflation remains high. Analysts say the key question facing the Fed is how to balance rising unemployment with the hardships faced by households facing rising food and basic necessities costs.

Source: investor.bg

Asia

Japan’s exports fell for a fourth straight month in August, but by less than many analysts had expected as shipments to Asia recovered. Japanese exports fell 0.1 percent year-on-year last month, after a 2.6 percent decline in July. At the same time, Japan’s imports fell at an annual rate of 5.2 percent. Imports fell 7.4 percent in July. Economists polled by Reuters had forecast a much larger 1.9 percent decline in exports last month and a more modest 4.2 percent decline in imports. However, Japan’s exports to Western Europe rose sharply by 7.7 percent, partly offsetting a sharper decline in shipments to the United States. Exports to Asian trading partners rose 1.7 percent from a year earlier. Japanese exports to the United States were 13.8 percent lower than in August last year, deepening a 10.1 percent decline since July. At the end of July, Tokyo and Washington concluded a trade agreement under which American tariffs on most Japanese goods, including cars, were reduced from 25 to 15 percent. The new rates came into effect yesterday, September 16. Japanese car exports to the United States also continued to weaken, falling by as much as 28.3 percent in monetary terms. In July, car exports fell at an almost identical annual rate - 28.4 percent. Cars were Japan's top export to the United States in 2024.

 
Indexes of Stock Exchanges
16.09.2025
Dow Jones Industrial
46 145.00 (119.00)
Nasdaq Composite
22 261.30 (-72.63)
Commodity exchanges
16.09.2025
  Commodity Price  
Light crude ($US/bbl.)63.49
Heating oil ($US/gal.)2.3417
Natural gas ($US/mmbtu)3.2656
Unleaded gas ($US/gal.)1.9805
Gold ($US/Troy Oz.)3 681.82
Silver ($US/Troy Oz.)41.44
Platinum ($US/Troy Oz.)1 376.76
Hogs (cents/lb.)87.68
Live cattle (cents/lb.)215.58

       Discover Bulgaria

80th anniversary of the birth of the unforgettable Katya Paskaleva

Katya Paskaleva was born on September 18, 1945 in Petrich. She graduated the Higher Institute on Theater and Movie Arts, where she attended the acting class of Metodi Andonov, as Stefan Danailov, Ilia Dobrev, and Stefan Mavrodiev were among her classmates. She made her movie premier in 1967 with a small part in Otklonenie (Sidetracked). Some of her most popular movie roles were also Stefka in Vilna Zona (Villa Zone, 1975, directed by Edward Zahariev), Liza Strezova in Zvezdi v Kosite, Salzi v Ochite (Stars in Her Hair, Tears in Her Eyes, 1977, directed by Ivan Nichev), Maria in Spirka za Nepoznati (Stop for Strangers, 1989, directed by Ivan Rosenov), Militsa in Bedniat Luka (The Poor Lucas, 1979, directed by Yakim Yakimov). Along with her colleagues Nevena Kokanova, Emilia Radeva, Milka Tuikova, and Katya Chukova, she played Stanka in Matriarhat (Matriarchate, 1977, directed by Lyudmil Kirkov). Besides in Pazardjik, Katya Paskaleva acted also in the drama theaters in Tolbuhin (today Dobrich), Plovdiv, and the Sofia Drama Theater. In 1985 she moved to the Aleko Konstantinov State Satiric Theater. Her name is related to a number of theater roles, such as Albena in the Yovkov’s story, Nina Zarechnaia in the Chekhov's The Seagull, Rosalind in the Shakespeare's As You Like It, Sarah in the Pinter’s The Lover – some of her most remarkable theater parts. In 1972 in Panama Katya Paskaleva was awarded the prize for the best female role in the movie Koziat Rog (The Goat's Horn), and she was awarded the Brussels `73 - Femina Award for Best Actress, and Karlovy Vary `72 - Special Jury Award. The same year she was awarded Golden Rose for her acting in Villa Zone. She was also awarded by the Union of Bulgarian Film Makers for the Best actress – in Pamet (Memory, 1986), and Eva na Tretiya Etazh (Eve on the Third Floor, 1987). Katya Paskaleva, the favorite of million Bulgarians, died in Sofia on July 23, 2002.



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