Korado Bulgaria managed to raise BGN 7 million at BSE Bulgarian steel radiators maker Korado Bulgaria has increased its capital by about BGN 7.1 million through a share issue on the Sofia stock exchange. Investors have acquired 2,576,786 Korado shares from the new issue, consisting of 2,884,786 shares, at an issue price of BGN 2.75 and a par value of BGN 1.0 apiece. The move is part of the company's mid-term investment plan, aiming to turn its Strazhitsa plant into among the top ten radiators' producers in Europe. The company's investment plan is estimated at BGN 25 million, with remaining funds to be financed by the company's parent, Czech-based Korado Group. The Bulgarian company has already invested EUR 3.0 million in a new production line in its Strazhitsa plant, which it acquired in 1998, in the northeastern area of Veliko Tarnovo and which exports radiators to all Balkan countries as well as Ukraine and Chile. The new line, which has a maximum annual capacity of 650,000 radiators, will increase the plant's total capacity to 1.15 million radiators per year. Korado Bulgaria's next investments will be in a specialized production line for bathroom radiators and in a new installation for radiator painting.
Source: Capital (09.01.2015)

The industrial sector in Bulgaria reported a not so bad year in 2014. Out of 49 public companies, which have filed reports to the Bulgarian Stock Exchange, 27 have revenue growth mainly due to investments in new capacity. Among them is Arcus JSC - Lyaskovetz. The manufacturer of specialised products (weapons, ammunition, etc.) finished 2014 with impressive revenue growth of 43%, to BGN 43.8 million. Shumen-based Lavena, famous for its cosmetics line Bochko, also reported impressive results - annual sales increased by 22%, to BGN 10.4 million. Currently, the company invests BGN 6.8 million in modern workshops. Plovdiv-based factory for cigarette filters Yuri Gagarin also experiences a renaissance. Its revenues increased by 20% to BGN 88.5 million, after having bought a new line for combined filter rods. The small town of Strajitsa also has reason for joy - the indigenous manufacturer of heaters Korado reported 20% sales growth to BGN 20.1 million.
Source: Presa (02.02.2015)

Korado Bulgaria to invest in 2.0 mln euro in radiator production line Steel panel radiators manufacturer Korado Bulgaria will invest EUR 4.0 million in a new production line for bathroom radiators at its plant in Strazhitsa, in northern Bulgaria. The new production line is expected to be launched by the end of the year. With it the company will complete the second stage of a BGN 25 million investment plan to expand its output capacity and product range. The new investment of the company will be funded with equity capital. The aim of Korado’s investment programme is Strazhitsa’s plant to turn into one of the strongest manufacturing facilities in production of radiators worldwide. Intention is Bulgarian company to enter top 10 of world producers of radiators. In November Korado Bulgaria opened a EUR 3.0 million production line with an annual capacity of 650,000 radiators at its Strazhitsa plant. Korado's Czech parent holds 98.2% in the company. It operates two plants in the Czech Republic.
Source: Capital (09.04.2015)

Steel panel radiators maker Korado Bulgaria's Q2 profit rises 81% y/y Steel panel radiators maker Korado Bulgaria said on Thursday its second-quarter profit rose 81% on the year due to the company's cost-cutting and sales development strategy and strong support from its Czech parent Korado Group. The company's sales increased by an annual 33% to BGN 12.2 million in the April-June period, Korado Bulgaria said in a press release. In April, the company said it had launched the second stage of a BGN 25 million investment plan to expand its production capacity and product range, and will invest BGN 4.0 million in a new production line for bathroom radiators at its plant in Strazhitsa, in northern Bulgaria. In the first half of the year approximately 230,000 shares of Korado Bulgaria were traded on the stock exchange for 670,000 levs at an average price of BGN 2.92. The current market price is BGN 3.50, an increase of 27% compared to the issue price of BGN 2.75. By 1400 on Thursday the company's shares were trading at 3.549 levs per share on the Sofia stock exchange. As of May 11, the shares of the company moved from alternative trading market BaSE, to the main market BSE, which allows emissions meet certain criteria for size and liquidity. The company exports 90% of its products to all its neighbouring countries along with Ukraine, the Czech Republic, Tunisia and Chile. Korado Bulgaria is 98.2% owned by Czech company Korado.
Source: mediapool.bg (31.07.2015)

Steel panel radiators maker Korado Bulgaria's 9-mo profit rises 68% Steel panel radiators maker Korado Bulgaria]said on Tuesday its nine month profit rose 68% to BGN 1.87 million Korado's revenues rose to BGN 20.2 million through September from BGN 14.9 million a year earlier, the company said in a bourse filing. Operating profit rose to BGN 1.9 million from BGN 1.2 million in the same period of 2014.
Source: investor.bg (28.10.2015)