Eurohold Bulgaria Posts Consolidated Jan – Sept Profit At 10.6 Mln Leva

Eurohold Bulgaria Posts Consolidated Jan – Sept Profit At 10.6 Mln Leva

Eurohold Bulgaria ()  reported consolidated Jan – Sept revenues in the amount of 188 mln leva. Net profit for the period stood at 10.6 mln leva (5.420 mln euros), of which 8.5 mln leva (4.345 mln euros) posted by the group.

The financial result has been entirely formed by subsidiaries.

On September 30, the holding's assets totaled 333 mln leva (170.260 mln euros). The company's own capital stands at 117 mln leva (59.821 mln euros).

Financial operations account for the largest part of the holding's profit, generating some 115 mln leva in revenue and 6.8 mln leva in total earnings.

The automobile unit ranks second with 58 mln leva in revenues and 1.8 mln leva net profit. Production generated 14 mln leva in revenue and 1.4 mln leva in earnings.

The financial results of the recently acquired Plasthim-T are not included in the report. It will be included in Q4 consolidated report.

After the release of the Jan – Sept data and the successful auction, at which 21% of Etropal's shares changed hands, Eurohols Bulgaria amended its prognosed results for the 2007. Estimated 2007 revenue is raised to 330 mln leva (168.726 mln euros), and net profit is expected to reach 22.7 mln leva (11.606 mln euros).

Subsidiaries will account for 70% of net profit, and financial operations for 30%.

The consolidated report includes for the first time so far, the results of the newly acquired insurer Euroins Romania and the leasing company Eurolease Auto Romania. The latter is in the process of capital increase, and by the end of the year, capital is expected to reach 1 mln euros. Alberto Catalin Anton, former manager in AFIN Leasing Romania, was appointed CEO of Eurolease Auto Romaina.

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