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Business Industry Capital
ISSN 1311-364X
Thursday, 04 March 2021, Issue 5397
  Bulgaria   Bulgarian Industrial Association   World   Discover Bulgaria BIC Capital Market Ltd. 

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BNB Exchange Rates
(04.03.2021)
  EUR   1.95583  
GBP   2.26283
USD   1.62606
CHF   1.76998
EUR/USD   1.2048*
ECB exchange rate
Basic Interest Rate
  as of 01.03   0 %  


Bulgarian Stock Exchange - 02.03.2021
  Total turnover (BGN): 467 399.10  
Traded companies: 34
Premium 26 384.92
Standard 261 851.17
REIT 111 861.32
Structured 1 775.60
Bonds 65 526.09
Biggest change
Yuri Gagarin JSC - Plovdiv 6.67 %
Central Cooperative Bank JSC - Sofia -4.72 %
BaSE - Shares: 3 192.30
BaSE - REIT: 8 401.40

Adult and other education n.e.c.
BEIS rating
Top 10 companies by
Profit
for 2019
(thous. BGN)
  
  1   Dikon SPLTD - Sofia   360  
  2   Business Group 2002 SPLTD - Sofia   314  
  3   Pluton - 1 SPLTD - Plovdiv   256  
  4   NH Bulgaria SPLTD - Sofia   119  
  5   Education Center Bul Mar SPLTD - Sofia   43  
  6   Vitamina Bulgaria LTD - Sofia   35  
  7   Alliance SPLTD - Sofia   33  
  8   Agrostart Plovdiv SPLTD - Plovdiv   28  
  9   Euro Alliance LTD - Plovdiv   19  
  10   Sigma Faros 5 SPLTD - Sofia   12  
Make your own Bulgarian companies rating in BEIS

Certificated
Bulgarian companies

General meetings today
  Ketmash TR JSC - Veliko Tarnovo
Toplofikacia - Pernik JSC - Pernik
Vinzavod JSC - Asenovgrad
 
Forthcoming General Meetings



Financial news

Bulgaria's gross external debt (private and public) continues to grow as part of gross domestic product (GDP). At the end of December, it was EUR 36.824 billion, an annual increase of 4.7% (EUR 1.466 billion) more than at the end of 2019. Thus, it represents 61.1% of the country's projected GDP, according to preliminary data by the Bulgarian National Bank (BNB). According to the central bank at the end of 2019 it was EUR 35.178 billion or 57.4% of GDP. As of December 31, long-term liabilities amounted to EUR 28.947 billion and increased by 9.1% (EUR 2.419 billion) in one year. Short-term external debt amounted to EUR 7.877 billion and decreased by 8.9% (EUR 773.3 million) compared to the end of 2019. The gross external debt of the general government sector at the end of last year was EUR 7.385 billion compared to the end of 2019. In 2019 it increased by 36.1% (EUR 1.958 billion). External liabilities of the Banking sector at the end of last year amounted to EUR 4.384 billion and decreased by 10.5% (EUR 516.7 million) on an annual basis. 

Source: investor.bg

Factory prices in January are rising on both an annual and monthly basis, according to data from the National Statistical Institute. The annual increase in food prices is 3% on average, but there is a decrease in clothing. Compared to the previous year, the production prices increased on average by 0.7%, being higher in the mining and quarrying industry - by 11.5%, in the production and distribution of electricity and heat and gas - by 1.3%, and in the manufacturing - by 0.1%. Compared to December, the prices increased by 1.8% on average, as an increase was registered in the manufacturing - by 1.8%, in the mining and quarrying - by 1.7%, and in the production and distribution of electricity, heat and gas - by 1.6%. For the domestic market, factory prices in January rose by only 0.1% on an annual basis. In the mining and quarrying industry the increase was by 8.4%, and in the production and distribution of electricity and heat and gas - by 0.6%, and a decrease was observed in the manufacturing - by 0.8%.

Source: Dnevnik

 

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Companies

The public company Eurohold Bulgaria JSC plans to increase its capital by issuing new shares on the Bulgarian Stock Exchange (BSE). The holding will try to receive EUR 100 million from investors, as the final decision on the new issue will be made at the General Meeting of Shareholders on April 10. The subject of the public offering will be a little over 79 million new ordinary shares, each with a nominal and issue value of BGN 1 and BGN 2.50, respectively. The company is about to publish a prospectus to be approved by the Financial Supervision Commission (FSC). The issue will be considered successful if at least 40% of the new shares are subscribed (31.6 million). The investment intermediary for the capital increase will be Euro Finance JSC ​​- a brokerage house, part of the Eurohold group. 'The raised funds will be used to finance the acquisition of CEZ Group companies in Bulgaria and to invest in the development of the holding's two main businesses - energy and insurance,' said Vasil Stefanov, head of mergers and acquisitions at the holding.

Source: economic.bg

UK-based fintech company Revolut, which holds a European banking licence, said that it will start offering deposit services to customers in Bulgaria and Romania. Over 220,000 clients in Bulgaria will now have access to additional Revolut Bank services through the company's mobile app. Their deposits are guaranteed by Lithuanian state company Deposit and Investment Insurance. In Romania, customer deposits of up to EUR 100,000 will be guaranteed under the European deposit guarantee scheme. "The launch of banking operations in Romania will bring a high level of security and trust to our customers and will allow us to add a suite of new products and services in the near future," Revolut Bank CEO Virgilijus Mirkes said. In January, Revolut announced the launch of its acquiring solution in Bulgaria, which allows businesses to accept card payments online, directly into their account. Revolut entered Romania in 2018 and currently has over 1.3 million users. Founded in 2015 in London, Revolut offers accounts featuring currency exchange, debit cards, virtual cards, Apple Pay, interest-bearing vaults, commission-free stock trading, crypto and commodities. Revolut received a European banking licence at the end of 2018.

Source: economic.bg

Bulgarian fuel trading and railway services company Bulmarket DM said that it has opened an LNG filling station for trucks in the city of Ruse. The company is planning to create a network of LNG filling stations located in the cities of Sofia, Plovdiv, Stara Zagora, Varna, Burgas, Ruse, Vidin and others, Bulmarket DM said in a statement. Bulmarket DM has several terminals for gas and oil products in Bulgaria and Romania.

Source: SeeNews

Bulgarian battery maker Monbat said that its consolidated net profit dropped to BGN 6.4 million in 2020 from BGN 11.9 million in 2019, hurt by a decrease in revenue. Monbat's revenue fell to BGN 315.3 million last year from BGN 336.9 million in 2019. The company formed 92.9% of its sales revenue through exports. Monbat's largest market in 2020 was Germany, which accounted for 8.31% of the company's total exports. France and Saudi Arabia followed with shares of 7.98% and 7.93%, respectively. Monbat's expenses decreased to BGN 306.7 million from BGN 326.3 million, due to lower expenses for materials.

Source: SeeNews

Bulgarian IoT products maker Allterco said that its consolidated net profit grew to BGN 13.9 million in 2020 from BGN 7.2 million in 2019, backed by higher revenue. Allterco's revenue increased to BGN 51.1 million last year from BGN 42 million in 2019, the company said in an annual financial statement. The company's revenue from sales of goods jumped 88.2% to BGN 39.6 million, while revenue from telecommunications services dropped 48.2% to BGN 6.4 million. In 2019, Allterco sold five of its telecommunications subsidiaries to Norway's Link Mobility Group for EUR 7.9 million. Allterco's operating expenses rose 4% to BGN 34.8 million in 2020. In October 2020, Allterco sold part of its shares in Link Mobility Group Holding for some BGN 5 million. Allterco received the shares as part of the sale of its telecommunications units to Link Mobility Group.

Source: SeeNews



       Bulgarian Industrial Association



 

       World

Europe

Britain will raise its corporation tax on big companies to 25% from 19% from 2023, the first hike in nearly half a century, but will temper the burden with a two-year “super deduction” for investment to spur a fast recovery from the COVID-19 crisis. Finance minister Rishi Sunak, a Conservative unveiling the first corporation tax rise since Labour raised it 1974, said the future tax hikes on companies were a fair way to start recouping the cost of vast state support to business during the pandemic. “The government is providing businesses with over 100 billion pounds of support to get through this pandemic so it is fair and necessary to ask them to contribute to our recovery,” Sunak told parliament. “Even after this change, the United Kingdom will still have the lowest corporation tax rate in the G7,” Sunak said. The corporation tax rise - by far the biggest tax increase announced by Sunak in the budget - will take effect from 2023, when the economy is expected to regain its pre-pandemic size. The measure is forecast to raise 11.9 billion pounds in the 2023-2024 tax year, rising to 17.2 billion pounds in 2025-26.

Source: Reuters

America

President Biden agreed to place stricter income limits on the next round of stimulus payments, making the latest in a series of crucial concessions to moderates as Democrats worked to hold their fragile coalition together to push his $1.9 trillion pandemic aid package through a divided Senate. The decision to scale back the direct checks — a popular centerpiece of Mr. Biden’s economic relief initiative — was the second time in a week that Democrats had moved to curtail the sweeping stimulus plan by limiting or removing progressive priorities. The moves have underscored the narrow path Mr. Biden must navigate as he seeks to steer his first major legislative initiative through the 50-50 Senate, where he cannot afford to lose a single Democrat in the face of what is likely to be united Republican opposition. The legislation, which Democrats hope to push through the Senate by the weekend, remains among the largest federal relief packages in modern American history. 

Source: New York Times

Asia

State Grid Corporation of China (SGCC) released a plan for achieving carbon emission peak and carbon neutrality goals. SGCC estimated that the portion of non-fossil energy used for electricity generation will be reduced to 20 percent and 25 percent of primary energy consumption in 2025 and 2030 respectively. The plan stressed to develop clean energies including wind power, solar power, water power and nuclear power. At the end of 2020, the last year of 13th Five Year Plan, SGCC generated 587.2 billion kilowatt per hour of wind power and solar power, which reduced 250 million tons of coal for electricity and 450 million tons of carbon dioxide emission. SGCC vowed to enhance the research and development of new technologies of energy generation and transmission. What’s more, intelligent electricity grind nationwide will be able to increase the operation efficiency of electricity transmission and rectify the long distance transmission power grind of clean energies.

Source: 24 chasa

 
Indexes of Stock Exchanges
03.03.2021
Dow Jones Industrial
31 270.09 (-121.43)
Nasdaq Composite
12 997.80 (-361.03)
Commodity exchanges
03.03.2021
  Commodity Price  
Light crude ($US/bbl.)61.64
Heating oil ($US/gal.)1.8400
Natural gas ($US/mmbtu)2.7900
Unleaded gas ($US/gal.)1.9500
Gold ($US/Troy Oz.)1 713.00
Silver ($US/Troy Oz.)26.23
Platinum ($US/Troy Oz.)1 167.00
Hogs (cents/lb.)87.93
Live cattle (cents/lb.)119.40

       Discover Bulgaria

The Samara Flag

The history of the flag is connected with the heroic struggle of Slavic peoples against Osman yoke in the Balkans. In the summer of 1875 an anti-Turkish rebellion broke out in Bosnia and Herzegovina, in April of the next year Bulgaria followed suit, and two months later Serbia and Montenegro started the war with Turkey. These events received a live response in orthodox Russia. Thousands of Russian volunteers went to the Balkans to support the Slavs in their fight for independence. The members of the Samara Duma came up with an idea to create a flag in order to present it to the Slavs fighting against Turks. A prominent public leader, member of the Duma, Pyotr Vladimirovich Alabin and his wife Varvara Vasilyevna took an active part in that. The artist Nickolai Efstafyevich Simakov made the sketch of an extraordinary gift. On one side of the red, white and blue canvas on a black cross, decorated with golden ornament, he showed the first Slavic teachers Kiril and Mephody. On the other side, he showed the icon of the Iverskaya God Mother, which gave the name to the nunnery later founded in Samara. It were the nuns who for free embroidered the flag.
The Samara flag has become a historic relic for Bulgarians. The flag was given the highest military award “For Courage” and is currently treasured in Bulgaria’s National Museum of Military History.


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