Elma AD is Expecting to Sell Engines for 21.4 mln Leva in 2007

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Elma AD expects to sell 247 000 engines in 2007 in comparison to 137 000 sold in 2006 and 208 000 in 2005, the company’s registration document filed in BSE- Sofia show.

The management of the company expects revenues to reach 21.374 mln leva against 11.215 mln leva for the previous year and 16.037 mln leva for 2005.

In 2006 the company realized a total of 69.7% of its sales in Europe mainly on the markets of Germany, Italy, France, Sweden, Denmark and others. During 2005 67.2% of the production was sold in Europe.

Sales in Bulgaria amounted to 2.033 mln leva or 18.1% against 16% for 2005. Export to Africa represents 7.8% of the revenues and to Asia -4.4%.

Elma AD reported a loss of 1.98 mln leva for last year in comparison to a profit of 59 000 leva for 2005. The company’s shared capital is 3.147 mln leva and their total equity- 13.703 mln.

Elma Elektromotori AD and AKB Aktiv AD own respectively 28.35 and 19.23 percent of the company’s capital while Kostenetz HHI and DF Standard Investment Visokodohoden Fund own respesctively 13.36 and 8.17 percent.

The company’s shares were not traded yesterday and the bids and asks stayed at BGN 3.25 and BGN 3.40 respectively.

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