HES: We Export More Than 90% Of Our Production

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Profit.bg talked with Nadejda Cholakova, investors relations director in Hydraulic Elements and Systems (HES). HES is part of the structure of Stara Planina Hold AD.

Which are the basic products of Hydraulic Elements and Systems?

The core activity of our company is the production and marketing of hydraulic elements. We receive orders for the following:
-Piston cylinders - single-acting and double-acting, with diameter of the piston rod from 30mm to 300mm and maximum length of the stroke up to 2500mm;
Plunger cylinders - with plunger diameter from 20mm to 250mm and maximum length of the stroke up to 3000mm;
-telescopic cylinders - single-acting of up to 8 (eight) levels with maximum length of the stroke - up to 8000mm; double-acting of up to 3 (three) levels with maximum length of the stroke - up to 4500mm:
-rack cylinders - with diameter of the piston up to 100mm and maximum length of the stroke up to 500mm
-rotation details.

What part of the production is exported and what part is aimed at the domestic market?

The Management Board favors an export-oriented policy. More than 90% of our production is exported. Over the past 3 years this percentage stood at between 94 and 95% of production.

The company recently increased capital. What will the funds be used for?

The funds will be used to finance the first stage of the 5-year Program For Technological and Organizational Development (5ПТОР+), which we launched at the beginning of Q2 this year. The program includes urgent and long-term procedures, which will create new frontiers for the company in the future.

The fulfillment of our objectives is bound to the achievement of a certain level of development in terms of production capacities by 2011, and to both the improvement of current and the introduction of new processes.

Have you signed any long-term contracts with Bulgarian and/or foreign clients?

We have signed long-term contracts with companies in Western Europe and the US with which we marination a long-term partnership. At the moment we are working on the following orders:

- A contract with PALFINGER Austria for the sale of hydraulic cylinders. The contract is effective through 31 December, 2009, with an extension option through 31 Dec 2011;

-A 10-year contract with HS PENTA Italy for the sale of hydraulic cylinders, effective through 2012.

What are the projected sales for this and the following years? 


20072008200920102011
Capacity Per Year (number of items produced)165000202000263000300000335000
Sales (thousand BGN, Per Year)42140465006130081315104034

 How did the stakes of the major shareholders change after the capital increase?

Our capital currently stands at 3 032 292 leva. Before the increase Stara Planina Hold controlled 73,7% of the capital, while Slavena (a subsidiary to Stara Plaina Hold) had 9,6%, which makes 83,3% in total.

After the capital increase Stara Planina Hold owns 1 932 050 shares, or 63,7%, and Slavyana AD has 251,100 shares, or 8,3%. The total interest of both companies is 72%, and the amount of shares freely traded on BSE rose from 16,7% to 28%. 

What are the advantages of the public status?

A good image of the company and its management, transparency of activity and achievements.

Increasing trust on the part of potential investors, as well as more possibilities for access to foreign sources of investment.

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