Eurohold boostеd its financial results in 2024

Eurohold Bulgaria AD, a leading energy and financial group in Southeast Europe, completed 2024 with a significant increase in its profitability indicators, according to the holding's consolidated financial statement for the fourth quarter of the past year.

Consolidated revenues of Eurohold Bulgaria increased slightly - by 0.43% to BGN 2.81 billion (EUR 1.44 billion), and due to improved efficiency and productivity in the insurance and energy businesses, the company’s operating profit before interests, taxes and depreciations (EBITDA) grew by more than 47%, compared to the previous year, to just over BGN 308 million (EUR 157.5 million). The net financial result for 2024 is nearly BGN 39 million (EUR 20 million), compared to almost BGN 80 million (EUR 40.9 million) in 2023, when a large one-time effect impacted the profit. Consolidated assets of the holding rose by almost 12% to approx. BGN 2.77 billion (EUR 1.4 billion).

Eurohold's energy business, which operates under Electrohold brand, largely managed to maintain the results achieved in the previous year in conditions of lower market prices for electricity for businesses. In 2024 it ended up with revenues of BGN 2.29 billion (EUR 1.17 billion) and EBITDA of BGN 290.8 million (EUR 148.7 million). Eurohold's insurance business, concentrated in Euroins Insurance Group AD (EIG), continued to generate growth performing steadily across all markets in which it operates. Revenues from this segment were up by over 10% to BGN 530.3 million (EUR 271 million) and EBITDA amounted to BGN 21.9 million (EUR 11.2 million).

”We managed to achieve a good result in yet another challenging year. Investments in our energy business have already been paying off and bringing additional value to shareholders and stakeholders, while the transformation of our insurance business has brought stability and sustainability. We expect stable performance this year, despite the major macroeconomic and geopolitical challenges in the region in which we operate," commented Asen Minchev, CEO of Eurohold.