ABB Bulgaria Lifts 2018 Net Profit, Revenue

ABB Bulgaria Lifts 2018 Net Profit, Revenue

ABB Bulgaria, part of Zurich-headquartered power and automation company ABB, said that its net profit rose to 16.7 million levs ($9.6 million/8.5 million euro) in 2018 from 14.8 million levs the year before, backed by discontinued operations.ABB Bulgaria turned to a net profit of 2.9 million levs from discontinued operations in 2018, compared to a net loss of 641,000 levs in 2017, figures from the company's annual financial statement showed. The company's sales grew to 287.1 million levs last year from 272.9 million levs in 2017, while cost of goods sold increased to 260.2 million levs from 245.4 million levs. Administrative expenses edged up to 7.5 million levs from 6.7 million levs.ABB Bulgaria currently has four production bases and a turbocharger service centre. It employs over 2,300 people in the country.

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