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Business Industry Capital
BIC Capital Market Ltd. 
ISSN 1311-364X
Wednesday, 17 September 2025, Issue 6521
  Bulgaria   Investments   Bulgarian Industrial Association   World   Discover Bulgaria

       Bulgaria
 
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BNB Exchange Rates
(17.09.2025)
  EUR   1.95583  
GBP   2.25951
USD   1.65650
CHF   2.09493
EUR/USD   1.1807*
ECB exchange rate
Basic Interest Rate
  as of 01.09   1.82%  


Bulgarian Stock Exchange - 16.09.2025
Total turnover (BGN): 345 694.01  
Traded companies: 40
Premium 50 355.03
Standard 117 148.22
REIT 37 991.75
Structured 6 281.96
EuroBridge 79 738.50
BEAM - Shares: 54 178.55
BaSE - Shares: 44 235.68
BaSE - REIT: 2 280.00
Biggest change
-12.45 %
Bulgarian River Shipping Corporation JSC - Rousse 9.00 %

Letting of own property
BEIS rating
Top 10 companies by
Fixed
Assets
for 2023
(thous. BGN)
  
  1   National Palace of Culture - Congress Center Sofia SPJSC - Sofia   324 052  
  2   International Investments   171 976  
  3   Bulgaria Air Maintenance SPJSC - Sofia   125 616  
  4   Advance Business Centre SPJSC - Sofia   111 135  
  5   Sofia Airport Center SPJSC - Sofia   106 821  
  6   BL - Retail Real Estate SPLTD   95 851  
  7   A.D.I.S. (Domestic Diplomatic Properties Agency) SPLTD - Sofia   92 896  
  8   Bulreal JSC - Sofia   69 051  
  9   Glorient Investment BG LTD - Sofia   47 301  
  10   Sofiiski Imoti SPJSC - Sofia   45 137  
Make your own Bulgarian companies rating in BEIS
General meetings today
  Andela JSC - Bourgas
Autobriz Invest JSC - Varna
Autorepair factories JSC - Parvomai
Bulfraht Sofia JSC - Sofia
Electrohit JSC - Plovdiv
GBS-Infrastructure Construction JSC - Sofia
Geopecha JSC - Sofia
Hidroenergy company JSC - Blagoevgrad
IEHIT JSC - Plovdiv
KV-Consult SPJSC - Plovdiv
Lukoil Neftochim Burgas JSC - Bourgas
Telelink Business Services Group JSC - Sofia
Touristimpex - Torgocomplect JSC - Kavarna
Trest B Distribution JSC - Vresovo
Vela 96 JSC - Shoumen
 
Forthcoming General Meetings



Financial news

The yield on Bulgarian debt is increasing despite Bulgaria's accession to the eurozone and the improvement of its credit rating. At the last auction for the placement of government securities (GS), local investors requested an average of 3.25% return on their investment. This is above the 3.06% weighted average yield achieved at the comparable auction three months ago. The Ministry of Finance announced that an auction was held on September 15, at which government securities for 300 million leva were placed. On June 16, the previous auction was organized for the same amount of government bonds, with the same maturity (in reality, the Ministry of Finance is now reopening this issue). Historically, there have been cases in which the Ministry of Finance has canceled auctions due to higher yields, but probably now Finance Minister Temenuzhka Petkova cannot afford it, due to growing budget expenditures and non-fulfillment of the revenue part. After this auction, the loans withdrawn from the domestic market reached 1.4 billion leva, and the total financing, including the huge external loans, for this year reached 16.8 billion leva.
Source: economic.bg

1,156 Bulgarians have declared personal income in the amount of over 1 million leva for 2024, data from the National Revenue Agency show. 643 individuals have announced that last year they received income in the range between 750 thousand and 1 million leva. Those with incomes from 500,000 to 750,000 leva were 1,623. 5,827 people took between 250,000 and 500,000 leva for the year. Individuals with an annual tax base of 100,000 to 250,000 leva are 26,412. 48,933 people received between 50,000 and 100,000 leva. People who received between 10,000 and 50,000 leva in 2024 amounted to 244,377 people. Most Bulgarians work for a salary of up to 2,000 leva. Nearly 70% of working people in our country earn this much per month. 4,329 Bulgarians have acquired property abroad, scattered all over the world - from Australia and Aruba to Uruguay and Japan.
Source: econ.bg

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

Interpred - World Trade Center Sofia, an iconic office building built in the 1980s in the "Izgrev" district of Sofia, has attracted the attention of investors. The Interpred - WTC Sofia building was completed in 1986. It has 12 above-ground and 3 underground floors, located in two wings with a total developed built-up area of ​​33.6 thousand sq. m. The lettable area is 17.6 thousand sq. m, of which the office area is 15,250 sq. m. There is also a restaurant, a winery, a canteen with a coffee bar and a panoramic bar - a total of 1,200 sq. m., as well as a conference center with an area of ​​1,150 sq. m., featuring 10 halls with a capacity of 8 to 275 seats. The building also has an underground garage with 150 parking spaces, as well as an open one with a capacity of 178 cars. Another 90 spaces are available in a two-level underground garage next to the Joliot-Curie metro station, located in the immediate vicinity. There is no deal at this stage. The owner company at the moment is still "Interpred - World Trade Center Sofia". Edoardo Miroglio owns a 99.7% stake in it through the Luxembourg-registered "B.R.E.". He acquired the building back in 2002. In 2019, the Italian with a Bulgarian passport acquired two more buildings in Sofia, which he has also been developing as office buildings since then. They are named "Interpred Tsar Boris" and "Interpred Boyana". The first, located on B. "Tsar Boris III" 159, housed TV7 television and the offices of Tsvetan Basilev, owner of the bankrupt "Cooperative Commercial Bank". The building, located at 3 Spas Sokolov St. in "Manastirski Livadi", was built for bTV, but the media was not moved there. At the end of 2016, it was purchased by the "Bulgarian Media Company" of Irena Krusteva and Delyan Peevski, and later sold to Mirolio. The activities of the holding company of the same name "E. Mirolio" in Bulgaria, in addition to the real estate sector, are focused on the textile and fashion industries, as well as the production of wine under the brand "Vinarpca Izba Edoardo Mirolio". Since 2018, Mirolio has also owned the fashion brand DiKa, which has stores in France as well as Bulgaria. The revenues of "Interpred World Trade Center Sofia" in 2024 amounted to 6.8 million BGN. The net profit was 1.9 million BGN. According to the consolidated financial statements of "E. Mirolio", the group's revenues were 289.6 million BGN, and the profit before taxes was just over 17 million BGN.

Source: money.bg

The Bulgarian chain of building materials and home and garden goods Masterhaus, owned by the company "Boshnakov", is starting to build a logistics center near Burgas. The expected investment in it is 29.5 million leva. The logistics center will have a total built-up area of ​​20.5 thousand sq m on a 60-acre plot of land, which is located on the right when entering Burgas from Sofia, before the cloverleaf for Sunny Beach on the Northern Tangent. Construction is already underway, and preparatory activities are currently being carried out on the terrain. The logistics center is expected to be completed and put into operation in 2026 and to open 40 new jobs. The history of the chain starts in Burgas, where in 1993 it opened a small paint and chemical store. Between 1999 and 2000, the first larger site was opened in the same city, at that time under the name "Dom na maystara". Since then, the chain has grown and now has one store each in Nessebar, Primorsko, Aytos and Kazanlak. This fall, it is expected to open its sixth store - in Sliven. The seventh is planned to be in Sofia. The land was purchased from a private owner in a deal for 45 acres in the Kurt Tepe/Vulchi Vrah area. The seller is a subsidiary of Nova City, with a declared material interest of BGN 3.6 million. The property was then mortgaged for BGN 3.6 million in UBB, and for now, this is the only mortgage in the bank. The remaining acres were purchased in separate deals with private individuals. The space in the logistics center will be distributed between different zones. The high-bay warehouse with a capacity of about 10 thousand pallet spaces will allow for storing a large volume of goods and providing quick access to them. The warehouse for bulky materials with an area of ​​8 thousand square meters will process the largest items in the assortment. A separate warehouse of 2 thousand sq. m is designed for fast-moving goods. In it, trucks will be serviced in a covered area, which allows for fast and secure reception and dispatch. Trends in floor and wall coverings, sanitary ware and bathroom and kitchen products will be presented in a modern showroom of 3 thousand sq. m. There will also be an administration office of 500 sq. m., where the operational center for managing the base will be located.

Source: Capital

The Energy Storage System (BESS) in Lovech, which is the largest in the European Union and the fifth in the world (at the time of obtaining the permit). With an installed capacity of 124 MW and a storage capacity of 496 MWh, the Advance Green Energy project, which has been operating for only a few months, is already changing the energy landscape in Bulgaria. The investment in the project is worth 146.7 million BGN. Own funds, co-financed through a loan from the global bank Citi, are 89 million BGN, and nearly 58 million BGN are financial assistance under the Recovery and Sustainability Plan, Restore measure. The battery complex is composed of 16 modules, each with a capacity of 31.3 MWh and a power of 7.8 MW, with 111 lithium iron phosphate (LFP) batteries, which have established themselves as the best energy storage solutions on the market. Each charge and discharge takes 4 hours. The project is also equipped with an intelligent management system, which significantly contributes to the efficient operation of the facility. The construction of the facility was completed within just 6 months, and on April 30, 2025, it received a Permit for Use No. ST-05-236. Advance Green Energy plans to install batteries at its plants in Razgrad and Peshtera, which will be between 130 and 180 MWh.

Source: economic.bg

The Estonian food delivery company Bolt Food announced that since September, Dimitar Vutkov has been the general manager for Bulgaria. He has over 10 years of experience in the METRO wholesale chain, which has been present in the country since 1998. His last position was Director of Franchising, and before that he was also responsible for the development of marketing at METRO. The parent company Bolt entered Bulgaria in June 2024, when it deployed 800 electric scooters for shared use throughout the capital. It then also set foot in Varna and Burgas, and its attempt at the beginning of this year to start operations in Plovdiv was thwarted by the local administration, which did not allow it. In other European markets where the Estonian company, founded in August 2013, operates, it also offers electric bicycles for rent, car sharing, a taxi service, as well as shared trips with a personal car.

Source: money.bg

Four companies have submitted offers following the invitation of the Mayor of Blagoevgrad Metodi Baykushev, sent at the end of August to all interested parties to participate in market consultations for the construction of a second cell for household waste in the Regional Waste Management System near the village of Buchino. The difference in the four submitted offers is over 1 million leva. The lowest price was offered by Eterna Construction AD, registered in the village of Zelen Dol, represented by Margarita Kotseva, and it is 2,288,981.77 leva including VAT. Next are the offers of the executive director of the Plovdiv company "European Roads" AD Margarita Popivanova - 2,368,319.98 BGN with VAT, and of the Kyustendil company "Bulplan Invest" OOD with manager Nikolay Yosifov - 3,505,627.51 BGN. The last with the highest value is the offer of "PGS" AD, registered in Sofia, with manager Alexander Nikolov - 3,557,385.58 BGN with VAT. A project for the construction of Cell 2 was presented to the municipality of Blagoevgrad under a contract concluded with "Niproruda" AD a year ago. Since the commissioning of the landfill on 29.08.2019, the five municipalities have been filling Cell 1 with garbage, and in 2021-2022 Cell 3 was reclaimed, which contains the waste accumulated before the new landfill was opened. The market consultations conducted by Mayor Baykushev are aimed at updating the analysis prepared a year ago in preparation for announcing and conducting a public procurement for the construction of Cell 2.

Source: Struma

Bulgarian technology company Sirma Group has launched a beta version of its own AI platform – Sirma Enterprise AI, which will first be tested within the company itself. It combines the latest advances in artificial intelligence (AI) with enterprise-level security. Its goal is to help organizations quickly and securely build, deploy and scale their own AI agents with specific roles, agent teams and agent workflows. It allows agents to connect to company data and business processes, which will lead to optimization of processes in companies and saving resources. The platform is designed to fully protect organizations’ business data, allowing the use of powerful AI tools without the information leaving their servers. Sirma Enterprise AI has already attracted serious interest from a large customer from the automotive industry in the US, with the company in the final stage of negotiations.

Source: Standart


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

Hourly labour costs of employers in the business and government sectors, which include wages and salaries paid to workers, as well as components such as social and health insurance, continue to increase both in the euro area and across the European Union. Bulgaria recorded the highest annual growth in the EU in the second quarter of 2025, Eurostat data show. In the second quarter of the year (April-June), hourly labour costs increased by 3.6 percent in the euro area and by 4.0 percent in the EU as a whole compared to the same quarter last year. These costs consist of two main components - wages and salaries, as well as costs related to labour but not including wages. By individual EU Member States, the highest growth in hourly labour costs in the second quarter of 2025 compared to the same period in 2024 was recorded by Bulgaria - by 13.4 percent, followed by Hungary with 11.0 percent. Three other countries have over 10 percent growth - Romania (10.4 percent), Estonia (10.3 percent) and Greece (10.1 percent). The lowest increase was recorded in France (1.4 percent), Denmark (1.5 percent) and Malta (1.9 percent). In Bulgaria, the remuneration component in the second quarter grew by 13.4 percent compared to the second quarter of last year, and in this indicator section we are also in first place in the EU, and the costs of social security, etc. by 12.3 percent. Our country last topped the ranking in the first quarter of 2023. In the government sector, labor costs increased by 14.6 percent (first position in the EU in the second quarter), and in enterprises they grew by 12.8 percent (again in first position). In the first quarter, employers' labor costs increased by 12.4 percent year-on-year, which ranked our country third in the EU in terms of the dynamics of the indicator. In the euro area, hourly wages and salaries increased by 3.7 percent, and unskilled labor costs increased by 3.4 percent. In the EU, the increase in wages was 4.1 percent, and in unskilled costs - by 3.8 percent. By economic activities, labor costs in the euro area increased by 2.7 percent in mainly non-profit sectors and by 4.0 percent in the business sector, with growth in industry of 3.3 percent, in construction - 4.7 percent, and in services - 4.3 percent compared to the second quarter of last year. In the EU as a whole, the growth was 3.1 percent in the non-profit sector and 4.4 percent in business, with 3.9 percent in industry, 4.8 percent in construction and 4.6 percent in services. Among the economic activities with the highest growth in hourly labour costs in the EU were "Professional, scientific and technical activities" with 8.9 percent and "Extractive industry" with 6.7 percent. The lowest wage growth was recorded in the "Real estate" sector — 1.6 percent. In terms of unskilled labour costs, the highest growth was recorded in "Professional, scientific and technical activities" (7.3 percent) and "Extractive industry" (6.6 percent), while the lowest growth was recorded in "Administrative and support services" (1.8 percent).
Source: BTA

America

U.S. retail sales rose more than expected in August, but momentum could slow as a weakening labor market and rising commodity prices due to tariffs on imports into the country. This is according to the latest data from the Census Bureau of the Department of Commerce, cited by Reuters. Retail sales rose 0.6 percent in August on a monthly basis, and July data was revised slightly upward to a 0.6 percent increase. Part of the growth in retail sales last month was likely due to price increases due to tariffs on imports into the United States, rather than due to growth in volumes, Reuters points out. The weakening labor market, with fewer jobs and rising unemployment as companies postpone hiring due to an uncertain economic outlook, poses a risk to consumer spending, the agency adds. Core retail sales, which exclude the categories "automobiles," "fuel," "building materials" and "food services," rose 0.7 percent in August after an unrevised 0.5 percent gain in July. So-called core retail sales correspond most closely to the consumer spending component of gross domestic product (GDP).

Source: BTA

Asia

China has moved into the top 10 of the world's most innovative countries for the first time in the annual United Nations ranking, overtaking Germany, Reuters reported. The results are part of the Global Innovation Index (GII), which covers 139 economies and assesses 78 different indicators. Switzerland, which has been the leader in the ranking continuously since 2011, is back in first place. Sweden and the United States are next. China is in 10th place, while Germany has been moved to 11th place. According to the report, Beijing is on track to become the largest investor in research and development (R&D), rapidly closing the gap in private funding. China is already the source of about a quarter of all international patent applications in 2024, while the United States, Japan and Germany - together responsible for 40% of global applications - are seeing a slight decline. However, the outlook for global innovation remains unclear. The growth of R&D investments is expected to slow to 2.3% in 2025 compared to 2.9% in the previous year, which is the lowest level since 2010 after the financial crisis. In the top 10 of the most innovative countries, along with the USA and before China, are also South Korea, Singapore, the UK, Finland, the Netherlands and Denmark. Bulgaria is in 37th position in the ranking. Ahead of us is Hungary, and not inconsequentially after our country is India. In Europe, Bulgaria is in 24th place in terms of innovation, according to the index data. Greece and Turkey are in 42nd and 43rd place respectively. Romania occupies 49th position.
Source: news.bg

 
Indexes of Stock Exchanges
16.09.2025
Dow Jones Industrial
45 733.96 (-51.00)
Nasdaq Composite
22 334.00 (-14.79)
Commodity exchanges
16.09.2025
  Commodity Price  
Light crude ($US/bbl.)64.02
Heating oil ($US/gal.)2.3853
Natural gas ($US/mmbtu)3.2085
Unleaded gas ($US/gal.)2.0012
Gold ($US/Troy Oz.)3 681.82
Silver ($US/Troy Oz.)42.02
Platinum ($US/Troy Oz.)1 397.42
Hogs (cents/lb.)87.68
Live cattle (cents/lb.)215.58

       Discover Bulgaria

St. Sophia and her daughters Faith, Hope and Love

On September 17 the church commemorates the feast of St. Sophia and her three daughters Faith, Hope and Love. The legend says the St. Sophia was a widow with three daughters living in Rome in the time of Emperor Hadrian. Faith was twelve, Hope was ten, and Love was nine. St. Sophia raised them in the love of the Lord Jesus Christ. St Sophia and her daughters did not hide their faith in Christ, but openly confessed it before everyone. An official named Antiochus denounced them to the emperor Hadrian (117-138), who ordered that they be brought to Rome. When the holy virgins and their mother came before the emperor, everyone present was amazed at their composure. They looked as though they had been brought to some happy festival, rather than to torture. Summoning each of the sisters in turn, Hadrian urged them to offer sacrifice to the goddess Artemis. The young girls remained unyielding. Then the emperor ordered them to be tortured. St. Sophia was forced to watch the suffering of her daughters. She displayed adamant courage, and urged her daughters to endure their torments. In order to intensify St. Sophia's inner suffering, the emperor permitted her to take the bodies of her daughters. She drove beyond the city limits and reverently buried them on a high hill. St. Sophia sat there by the graves of her daughters for three days, and finally she gave up her soul to the Lord. Even though she did not suffer for Christ in the flesh, she was not deprived of a martyr's crown. Instead, she suffered in her heart. Believers buried her body there beside her daughters. The relics of the holy martyrs have rested at Alsace, France, since the year 777.



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