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Business Industry Capital
ISSN 1311-364X
Tuesday, 03 September 2019, Issue 5030
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 

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 Bulgarian issue

BNB Exchange Rates
  EUR   1.95583  
GBP   2.15352
USD   1.78321
CHF   1.79846
EUR/USD   1.0968*
ECB exchange rate
Basic Interest Rate
  as of 01.09   0 %  

Bulgarian Stock Exchange - 02.09.2019
  Total turnover (BGN): 1 034 166.89  
Traded companies: 33
Premium 87 808.58
Standard 911 954.84
REIT 30 396.20
Structured 1 141.28
Bonds 2 008.74
Rights 857.26
Biggest change
Sirma Group Holding JSC - Sofia 6.62 %
Zarneni hrani Bulgaria JSC - Sofia -5.36 %
BaSE - Shares: 18 943.01
BaSE - REIT: 358.38

Hardware consultancy
BEIS rating
Top 10 companies by
Net sales
for 2017
(thous. BGN)
  1   Ardes Informacionni Tehnologiy SPLTD - Varna   17 972  
  2   Tek Experts SPLTD - Sofia   14 479  
  3   Sibiz Bulgaria LTD - Plovdiv   3 742  
  4   Trinitiy Soft SPLTD - Sofia   790  
  5   Dan Electronic LTD - Rousse   635  
  6   Daisy- Service LTD - Sofia   464  
  7   Next Plus LTD - Plovdiv   313  
  8   Computernet LTD - Sofia   175  
  9   Internews 98 LTD - Sofia   129  
  10   Alinea LTD - Sofia   111  
Make your own Bulgarian companies rating in BEIS

Bulgarian companies

General meetings today
  Construction Compny SBS JSC - Stara Zagora
ECE Group JSC - Sofia
Electrodistribution North JSC - Varna
Energo-Pro Sales JSC - Varna
LZ Yachting 1991 JSC - Varna
Road Construction Company SBS JSC - Stara Zagora
Rudmetal JSC - Roudozem
Tsak Bam JSC - Sofia
Forthcoming General Meetings

Financial news

Based on preliminary data and estimates the balance of the Consolidated Fiscal Programme (CFP) on a cash basis as of August 2019 is expected to be positive, amounting to BGN 1,104.2 million (1.0 % of the forecast GDP). On a monthly basis, the CFP budget balance is negative only for August. After the adoption of the Law amending and supplementing the 2019 State Budget of the Republic of Bulgaria Law and the ratification by the National Assembly of the international contracts for the purchase of F-16 Block 70 fighter aircraft, armament and related systems for long-term operation and maintenance, as well as for the comprehensive training of pilots and auxiliary personnel, in August the Ministry of Defence transferred the amount of USD 1.2 billion to a US government account. Thus, the Bulgarian party fulfilled its commitment under the contracts concluded within the investment expenditure project “Acquisition of a New Type of Fighter Aircraft” for the Air Force of the Republic of Bulgaria and initiated their practical implementation. The significant amount of the expenditures for the implementation of this investment project has led to a reduction of the currently reported excess of revenues over expenditures as of end-August to around 1% of GDP.

Source: Council of Ministers

In 2017 the European Union (EU) relied on net imports for 87% of its oil consumption. This ratio, known as the oil import dependency rate, is unchanged from 2016 and two percentage points below the peak of 89% recorded in 2015, Eurostat reported. In 18 EU Member States, the levels of net oil imports were close to their oil consumption levels, with dependency rates lying between 96% and 104%. Dependency rates above 100% indicate a build-up of oil stocks, while negative dependency rates indicate a net exporting country. The EU Member State with the highest oil import dependency rate in 2017 was Estonia (115%). At the other end of the scale, the dependency rate for the United Kingdom was 35% and -4% for Denmark. Bulgaria ranks 4th with 102% oil import dependency rate. Import dependency on oil is calculated as the ratio of net oil imports (oil imports minus oil exports) to gross inland energy consumption of crude oil and petroleum products plus fuel supplied to international maritime bunkers).



Production at the Aurubis Bulgaria copper factory declined in the nine-month period to the end of June. This shows the report of the German group Aurubis for the financial year 2018/19. In addition to unplanned outages at the end of last year, the Pirdop plant saw shutdowns for planned repairs this spring, which affected production volumes. The group's financial results, which are broken down by business segment, were also exerted by lower copper prices. Between October and June, Aurubis Bulgaria processed 19% less concentrate. This led to a decrease in the production of cathodes (high purity copper) as well as sulfuric acid, which is obtained as a by-product of the purification of process gases. In total for the Refining and Metal Processing segment, which, in addition to the Bulgarian plant, includes five other enterprises of the group, the amount of processed concentrate decreased by 13% on an annual basis. This was partly due to the strong performance of the previous year, but the main reason for the decline was the planned and unplanned shutdowns of Aurubis Bulgaria.

Source: Capital

Allianz Bulgaria Holding has completed the acquisition of the remaining 49% of Allianz Leasing Bulgaria from Austria-based VHO Holding, becoming the company's sole owner. The acquisition will strengthen Allianz Bulgaria Holding's position on the local market. The price of the transaction was not disclosed. Allianz Leasing Bulgaria booked net financial leasing income of BGN 25.6 million in 2018, and closed the year with a net profit of BGN 1.8 million. Allianz Leasing Bulgaria has 16 branches across the country and employs 22 people. The leasing company has assets of BGN 44 million.


Bulgarian diversified group Rodna Zemya Holding has successfully completed the acquisition of 100% of Sofia-based fast-moving consumer goods retailer HIT Hypermarket. The transaction between Rodna Zemya Holding and HIT Hypermarket's previous owner, Germany-based HIT Bulgarien GmbH, was completed on Monday following the approval of Bulgaria's Commission for Protection of Competition. The value of the deal was not disclosed. HIT Hypermarket's capital is divided into 221,000 shares of BGN 100 in par value each. HIT entered the Bulgarian market in 2004. It operates two stores in Sofia, offering a wide variety of food and non-food products. Last month, Rodna Zemya Holding successfully completed a BGN 36 million capital increase by issuing 20 million new shares at a price of BGN 1.8 each.

Source: SeeNews

Bulgarian shipping company Port Flot-Burgas said that local Badeshte Universal Pension Fund has acquired a 6.98% stake in the company for an undisclosed price. At the same time, Port Flot-Burgas' biggest shareholder - ARZ Holding, cut its stake in the company to 85.48%. On August 26, a 6.98% stake in Port Flot-Burgas traded in a single deal worth some BGN 2.79 million on the Bulgarian Stock Exchange. Port Flot-Burgas shares started trading on the BSE last month. At the time of its listing, the company was 99.99% owned by local ARZ Holding-2002, according to commercial register data. ARZ Holding-2002 is fully owned by Great Britain-registered Monterina Ltd.

Source: SeeNews

Bulgaria's Central Cooperative Bank (CCB) said that its consolidated bet profit grew sharply to BGN 23.6 million in the first half of 2019 from BGN 14.5 million in the same period of 2018. CCB's net interest income rose to BGN 63.3 million in the January-June period of 2019 from BGN 58.2 million in the comparable period of 2018. Net fee and commission income edged down to BGN 23.7 million in the review period from BGN 24.1 million the year before. Net gains from transactions with securities more than tripled to BGN 3.6 million in January-June from BGN 1.1 million in the first half of 2018. The bank's operating expenses increased to BGN 66.2 million in the first six months of the year from BGN 64.8 million in the like period of 2018. CCB's assets rose to BGN 5.98 billion at the end of June from BGN 5.87 billion at the end of 2018. The lender's loans and advances to customers other than banks edged up to BGN 2.49 billion at the end of June from BGN 2.46 billion at the end of last year, while deposits from customers other than banks increased to BGN 5.34 billion from BGN 5.26 billion.


       Bulgarian Industrial Association




Atomic & Alternative Energies Commission of France (CEA) is abandoning plans to build its prototype fast-breeder for the ASTRID (Advanced Sodium Technological Reactor for Industrial Demonstration) project. Some design studies still in progress will continue this year but will be shelved after the 25-person unit coordinating the programme was closed in the spring. CEA told Le Monde that "the project to build a prototype reactor is not planned in the short or medium term" but will be deferred until " the second half of the century”. According to the Court of Auditors, nearly €738 million ($811m) had been invested in this plan by the end of 2017, including nearly €500 million as a large loan from the Investments for the Future programme. "We saw preparatory projects stop, and we saw that financing for the prototype no longer appeared in the budgets," said Didier Guillaume, CFDT central union delegate at CEA. In November 2018, CEA had already said it was considering reducing Astrid’s capacity from the originally planned 600MW commercial size to a 100-200MW research model. CEA’s recent decision confirms reports in the Japanese press last November that the French government had informed Japan it would halt their joint development of ASTRID.

Source: Associated Press


Argentina has imposed currency controls in an attempt to stabilise markets as the country faces a deepening financial crisis. The government will restrict foreign currency purchases following a sharp drop in the value of the peso. Firms will have to seek central bank permission to sell pesos to buy foreign currency and to make transfers abroad. Argentina is also seeking to defer debt payments to the International Monetary Fund (IMF) to deal with the crisis. In an official bulletin the government said that it was necessary to adopt "a series of extraordinary measures to ensure the normal functioning of the economy, to sustain the level of activity and employment and protect the consumers". The central bank said the measures were intended to "maintain currency stability". It also said that while individuals can continue to buy US dollars, they will need to seek permission to purchase more than $10,000 a month. Argentina has been struggling with a financial crisis, which was exacerbated by the president's defeat in a recent primary poll. The peso fell to a record low last month after the vote showed that the business-friendly government of President Mauricio Macri is likely to be ousted in elections in October.

Source: BBC


Tokyo Electric Power Company Holdings Inc. and three other companies are considering jointly setting up a new firm to construct and manage a planned nuclear power plant in Aomori Prefecture. The three partners are Chubu Electric Power Co., Hitachi Ltd. and Toshiba Corp. Under the plan, the new company will build and run a new nuclear plant next to Tohoku Electric Power Co.’s Higashidori nuclear facility, which has been idle since the triple core meltdown at Tepco’s Fukushima No. 1 plant. Tepco had been building a new plant at the Higashidori site but suspended construction in the wake of the 2011 disaster. The move by the four companies may lead to a realignment of the nuclear power industry. The four firms have experience managing or supplying boiling-water nuclear reactors (BWR), the same type used in the Fukushima plant. The joint plan was proposed by Tepco during talks on possible cooperation in the nuclear power business that the four companies started last August.

Source: Reuters

Indexes of Stock Exchanges
Dow Jones Industrial
26 403.28 (41.03)
Nasdaq Composite
7 962.88 (-10.51)
Commodity exchanges
  Commodity Price  
Light crude ($US/bbl.)54.86
Heating oil ($US/gal.)1.8100
Natural gas ($US/mmbtu)2.3200
Unleaded gas ($US/gal.)1.5000
Gold ($US/Troy Oz.)1 533.20
Silver ($US/Troy Oz.)18.36
Platinum ($US/Troy Oz.)936.70
Hogs (cents/lb.)63.72
Live cattle (cents/lb.)98.65

       Discover Bulgaria

Shushmanets Necropolis

In 1996 three Thracian tombs from the Shushmanets Necropolis were discovered near the town of Shipka thanks to the sponsorship of the Helvetia foundation, Switzerland. The tomb from the Griffins’ hill is the most preserved stone beehive tomb, used in V-IV century B.C. as a mausoleum. The two-leaved door has been broken during the plundering of the mold. The tomb was named Helvetia in honor of the Swiss foundation. The floor and the walls are plastered with a thick layer of nail float – boiled milk mixed with marble dust. It is constructed from big stone blocks held together through iron clutches. It includes a long corridor, a rectangular antechamber and a burial chamber. The antechamber and the chamber are covered by a two-slope roof and are plastered in fine whitewash coat, decoratively segmented into rectangular, imitating marble blocks. The two sacrifice furrows and the two buried horses of the Thracian ruler have been preserved at the entrance of the tomb. The Thracian vault Shushmanets consists of a burial chamber and an antechamber with half-cylindrical vault arch, propped up by a Dorian pillar. It is also plastered with nail float in red and white. The central part of the tomb is propped up by an Ionian pillar, serving as a construction element with seven semi-pillars in the vault arch part.

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