Holding Roads Posts Consolidated Loss of 2.92 Mln Leva In Q1

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Holding Roads Posts Consolidated Loss of 2.92 Mln Leva In Q1

Holding Roads announced a consolidated loss in the amount of 2.922 mln leva (1.49 mln euros) in Q1 in its consolidated report posted on Profit.bg's company bulletin section.

Last year, the company reported a loss of 1.332 mln leva in quarter one.

Consolidated revenues are up 19% y/y to 11.67 million leva (5.9 mln euros), against 9.8 mln leva (5.01 mln euros) a year ago. Operation costs rose 21% to 12.7 mln leva (6.4 mln euros) and financial costs stand at 2.34 mln leva (1.1 mln euros).

The report is on the activity of the parent company and the 19 subsidiaries.

Holding Roads' issued capital stands at 432,000 leva and equity capital is at 32.7 mln leva (16.7 mln euros). As at the end of March 2008 assets total 203.6 mln leva (104 mln euros).

Q1 liabilities total 152 mln leva (77.7 mln euros). The holding has given loans to associated companies in the amount of 7.35 mln leva (3.7 mln euros) during the period concerned.

At the beginning of the week Vasil Bojkov officially became a shareholder in the company. We remind that ABV Engineering, the former majority shareholder, sold 5.01% of the capital to Orlin Hajiyankov and Eurobuilding 2000 transferred 10.54% to Vasil Bojkov.

A general meeting of shareholders is scheduled end of June. One of the issues on the agenda will be a proposal for capital increase from 432,000 leva to 30.67 mln leva (15.6 mln euros) using own funds.

Vasil Bojkov and Prlin Hajiyankov are main shareholders controlling 80% and 20% respectively in the capital of Holding Railway Infrastructure, which is planning an IPO in the next few month.

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