Kostenez-HHI JSCo-Kostenets Investments Reach 21.6 Mln Leva in 2006

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Kostenez-HHI JSCo-Kostenets Investments Reach 21.6 Mln Leva in 2006

Kostenez-HHI JSCo-Kostenets invested a total of 21.618 mln leva in 2006, company information, published on the website of BSE-Sofia shows.

Most of last year’s investments went to buy new machines and equipment (21.578 mln leva). Another 16,000 and 24,000 leva were invested in buildings and land respectively.

In 2005 Kostenez-HHI JSCo-Kostenets’s investments were worth 1.062 mln leva compared with 624,000 leva in 2004.

As of 31 December the company was in the process of acquiring assets worth 22.061 mln leva. The new technological line for tissue paper, which is expected to start working in the fourth quarter of 2007, costs 21.416 mln leva.

The new installation will produce an average of 60-90 ton of paper daily (paper mass 15 to 24 g/sq m; crepe level 8-30%).

Kostenez-HHI JSCo’s net revenues totaled 13.912 mln leva in 2006 against 13.928 mln leva the previous year. Exports accounted for 27% of the relative share of total sales. The company’s main export markets were Turkey, Macedonia, Serbia and Montenegro, Bosnia and Herzegovina, Greece, etc.

Last year the company posted a net profit of 66.000 leva compared to a net profit of 35.000 leva in 2005. Its core capital stands at 236.000 leva, while its own capital is in the amount of 15.596 mln leva versus 8.964 mln leva in the beginning of the period.

Maritza 97 AD and ACB Active control 34.07% and 28.78% of Kostenez-HHI JSCo’s capital respectively, while Tezhka Mehanizacia Ltd.. and Company Build Commerce Ltd. hold 14.39% and 7.19% respectively.

200 shares on this position changed hands yesterday at 48.30 leva/share.

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