Hydraulic Elements and Systems (HES) Jsc is primarily oriented to the foreign markets, its report filed with BSE reveals. Last year the company exported 95% of its production and realized just 5% of it on the domestic market.

HES mainly exports to Austria (40.35% of total revenue), Italy (18.78%), France (16.29%), and Slovenia (5.68%), The Netherlands (3.94%), Germany (3.92%), USA (2.75%) etc. Sales on the domestic market account for 5.07%.

Piston cylinders accounted for the greatest share of sales last year (35.055 mln leva, 17.9 mln euros), while sales of telescopic cylinders and other components made for 6.4 million and 2.85 million leva of the revenue respectively.

Revenues from core activity last year came to 48.975 million leva (25.04 mln euros), versus 42.682 million leva (21.8 mln euros) a year ago. Net profit rose from 1.761 million to 2.111 million leva (1.07 mln euros).

The two largest clients, which make for 80% of sales are Palfinger Group and HS Pista. The company's contract with Palfinger is valid through 31 December 2009 with an option for extension till 2011, while the contract with Penta expires in 2012.

At the beginning of 2008 HES Jsc and Palfinger sealed a 1.5 mln leva deal for the sale of agricultural land.The company will use the cash as additional funding to its investment program.

HES has spent a total of 5.61 mln leva (2.86 mln euros) on acquisition of fixed assets between 2005 and 2007.

Main competitors on the domestic market are Kres-D, Kazanlak, Jebel-96, Krikovo and Pneumatica (Kardjali). The main rivals on the foreign market are Chapel Group, Tecnocilindri Hidraulica U.M. Plopeni S.A., Contarini Leopoldo S.r.l., Glual Hidraulica S.A, Bucher Hydraulics GmbH, Euromat Henrion Hydraulique S.A., Hydropa GmbH & Cie.KG, Hytos a.s. и Weber – Hydraulik GmbH.

Stara Planina Hold controls 63.72% of the capital, Slavyana Jsc has 8.28 %.