| Educational and sports complex Lozenets EAD (ED6A)
On the basis of Art. 74, para. 2 in connection with Art. 74, para. 1, item 9 of Part IV of the Trading Rules of the Rules for the Activities of the Bulgarian Stock Exchange AD, by order of the Director of Trading of the BSE, trading in the issue of bonds issued by Lozenets Educational and Sports Complex EAD, exchange code ED6A, ISIN code BG2100011175, is temporarily suspended from 1:23 p.m. until the end of the trading session on 13.01.2025.
The measure is taken in connection with a received notification of an interest and amortization payment due on 14.12.2024. and the need to recover the accrual of accrued interest on the bond issue in question. Source: BSE (14.01.2025) |
| Report assesses the performance of state-owned companies
The Agency for Public Enterprises and Control has prepared an assessment of public enterprises based on a methodology voted by the government at the end of 2023. The implementation of the business programs of all large state-owned companies within the meaning of the Accountancy Act was analyzed - a total of 50 companies. For the purposes of the assessment, the companies were divided into 2 large groups - enterprises carrying out mainly commercial activities and enterprises carrying out mainly public functions. The analysis shows that 28 companies had very good performance on both indicators. 21 were assessed with "good" performance, 7 companies had satisfactory implementation of financial targets, and 4 companies had an "unsatisfactory" assessment. The implementation of the financial targets of the "State Consolidation Company", which is periodically declared an unnecessary umbrella for many diverse companies in terms of activity such as VMZ, "Montazhi", "Ekoantratsit", "Kintex", "LB Bulgarikum", was assessed as unsatisfactory. DCK employs 19 people on a roster basis, the board of directors consists of 4 people, and the total cost of board remuneration is BGN 347,000 for the year. The final assessment is "good", the company has a profit of BGN 14 million, but it is significantly reduced compared to 2022. Bulgargaz also receives an unsatisfactory assessment for the implementation of financial goals due to the deteriorated debt ratio, which measures the ratio between liabilities and equity, which has jumped significantly. The 5-member board of directors received remuneration in a total annual amount of BGN 579,000 in 2023 (53 people on a roster). Bulgargaz is at a loss of BGN 52.3 million in 2023 compared to a loss of BGN 100.4 million a year earlier. The implementation of financial targets is also unsatisfactory at the Lozenets Hospital - the former government hospital, because it fails to improve the total liquidity ratio. The board of directors has three members, remunerations of BGN 295,000 were paid during the year. The loss is BGN 22.3 million in 2023 compared to BGN 32 million a year earlier. The only company with an overall final unsatisfactory assessment is BDZ-Freight Transport. All ratios for assessing the company's financial condition have worsened compared to a year earlier. From nearly BGN 13 million in profit for 2022, the company has incurred a loss of BGN 10.4 million in 2023. Among the companies with very good assessments on both indicators are BEH - a 5-member board, BGN 857,000 in remunerations paid, BGN 1 billion. profit, VMZ - 5-member board, 295,000 leva in remuneration paid (4,199 staff) and 143 million leva in profit, "AEP - Kozloduy" - with very high results on both indicators, profit of 537 million leva, with a 5-member board and 638,000 leva in remuneration paid for the year (3,796 staff), ESO - with a 3-member Board of Directors and a 7-member Supervisory Board, remuneration paid for both bodies 1 million and 13 thousand leva (3,321 staff) and 250 million leva in profit, etc. At the end of 2023, the Bulgarian state exercised a dominant influence in 266 public enterprises, in which 121,000 people were employed. Their equity in 2023 amounted to 32.3 billion leva. against 23.7 billion leva in 2020. A major contribution to the growth of capital in 2023 against 2022 is the contribution of 1.5 billion leva to the Kozloduy NPP for the construction of units 7 and 8. Twenty-three public enterprises end 2023 with negative equity, of which "Bulgarian Posts" EAD, Sofia with 49.285 million leva, "Water Supply and Sewerage" OOD, Shumen with 29.176 million leva, "Terem Khan Krum" EOOD, Targovishte with 20.873 million leva and "Water Supply and Sewerage" EOOD, Plovdiv with 18.876 million leva. Source: Sega (10.06.2025) |