Eurohold Group reports the nine months 2024 operating profit growth in operating result performance, increasing its profitability

Eurohold Bulgaria AD, a leading energy and financial group in Southeast Europe, posted higher operating profitability on lower total revenues for another consecutive quarter, shows the group's consolidated report for the first nine months of 2024.

In January-September Eurohold recorded a gross profit of BGN 355.45 million (EUR 181.74 mln.) and earnings before interest, taxes, depreciation and amortization (EBITDA) of BGN 240.12 million (EUR 122.77 mln), up by 0.8% and 36.6% on the year, respectively. The group’s consolidated revenue decreased by just over 5% year-on-year to approximately BGN 1.99 billion (EUR 1.02 bln).

Eurohold's insurance business, which operates through Euroins Insurance Group AD (EIG), conversely grew and continued to improve profitability. For the first nine months of the year the group's insurance revenues increased by 4% year-on-year to BGN 387.07 million (EUR 198 mln), with EBITDA and final financial result of BGN 16.51 million (EUR 8.44 mln) and BGN 3.65 million (EUR 1.87 mln), respectively.

Eurohold ended January-September period with a net financial result of BGN 31.7 million (EUR 16.21 mln) compared to BGN 99.34 million (EUR 50.8 mln) profit after tax for the comparable period of the previous year, when the indicator included one-off effect from discontinued operations. For the January-September period of the current year, the final net financial result from continuing operations was positive - BGN 44.7 million (EUR 22.85 mln), compared to a loss of BGN 497 thousand (EUR 254 thousand) a year earlier.

“The segments and markets, in which we are active and operate, face challenges, but our results show that we have been to overcome them. I believe we will register a successful year, adding value to our shareholders and all stakeholders,” commented Assen Minchev, Eurohold’s CEO.