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Record cargo turnover at the port of "Varna-West" A record cargo turnover of over 845,000 tons was processed at the Varna-West port terminal in May 2025, the operator Port of Varna EAD announced. Since the beginning of the year, a total of 3 million tons of cargo have passed through the terminal, which is a growth of 12% compared to the same period in 2024. There has been an increase in grain cargo by 200% compared to the previous year. Currently, the cargo turnover is nearly 600 thousand tons in both the "import" and "export" directions. The Varna-West grain terminal, which was put into operation in 2024, contributed to the achievement of the set goals. After the completion of the installation of the new technological equipment at the 15th berth of the port terminal, the grain processing capacity will amount to over 2 million tons per year. The revenue of "Port of Varna" amounts to over 83.5 million leva in 2024, which is a decrease of 1.5 million compared to the previous year. Its profit also decreases to 8.3 million leva from over 14.6 million leva in 2023. The main reason for this is the increased costs for external services and salaries. The capital of "Port of Varna" EAD amounts to nearly 8.5 million leva. The company is managed by a 5-member Board of Directors. Its Chairman is Tihomir Iliev Todorov, and the Deputy Chairman is Alexander Miladinov Alexandrov. The other members of the Board of Directors are Friedrich Katzer, appointed by the Minister of Transport, and Kiril Vassilev Karagyozev, appointed after a competition as a representative of the state. The fifth member of the Board of Directors is Ivaylo Slavov Gavrailov, who is also the Executive Director of "Port of Varna". He has held the position since June 2022 after a competition. The company employs 1,245 employees, with liabilities to personnel amounting to nearly 4 million leva by the end of 2024. Total personnel costs amounted to over 51.2 million leva last year. This means that the gross average salary is over 3,400 leva. The remuneration of key management personnel amounts to 456 thousand leva, which is an increase of about 50,000 leva compared to 2023.

 

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