fter working under strained conditions for four days, Bulgarian companies started to send workers away for indefinite periods. Moreover, some businesses may lose market positions as unfulfilled orders pile up. Economy Minister Petar Dimitrov said yesterday that direct losses from the suspended Russian gas supplies run at BGN 23.7 million, while they have spiraled of to over BGN 600 million, or close to 1% of the gross domestic product, according to Evgenii Ivanov, executive director of the Confederation of Employers and Industrialists in Bulgaria, who quoted a poll among some 200 members. Small and medium-sized companies reported daily losses of BGN 150,000-200,000. Burgas-based railcar maker Transvagon, which has been idle for three days, said it will sent workers on an indefinite leave if fuel supplies have not been restored by Monday. Local fertiliser maker Agropolychim has sent 800 employees to their homes as production runs at bottom capacity. The gas crisis has incurred aluminium firm Alcomet direct losses of BGN 40,000-50,000 and indirect losses of some BGN 450,000 a day, according to the company’s executive director, Hristo Dechev, who spoke to Focus news agency.
Source: Dnevnik (10.01.2009)

The Bulgarian freight trucks are still stranded at the Bulgarian-Greek border because of the continuing protest rallies of Greek farmers who blockaded the border. By now the business suffers losses amounting to over 10 million euro. Companies insist that the cabinet should demand compensations from the Greek government.
Source: Standart (26.01.2009)

Privatization Agency will offer equities of 74 companies at a tender. Among them are Lukoil Neftochim Burgas JSC, Neochim JSC, Biovet JSC, Dunavska Koprina JSC, Oranzherii-Gimel JSC, etc. 54 of the companies would be offered for non-monetary means of payment and 15 – for money. 5 companies will be made available for cash/stock combined payment. All enterprises will be sold on Centralized Public Offering segment of the Privatization Market at the BSE.
Source: profit.bg (11.02.2009)

The manufacturer of veterinary medicines and feed additives Biovet JSC reported 2.7 times higher profit for 2008. The positive financial result of the company amounted to BGN 615 thousand from the BGN 230 thousand in 2007. Total revenue of the company last year reported a minimal decrease of 1.16%. to BGN 104 million. Sales of the company in 2008 amounted to BGN 102.5 million, forming 98.5 percent of all revenues. Biovet sales last year decreased by 1 percent on an annual basis. Total operating costs decreased by 1.24%. Expenditures for operations in 2008 were BGN 103.3 million to BGN 104.6 million in 2007. Over 90% of the production of Biovet are sold on the foreign markets. In 2008 Europe occupies the biggest share of exports of the company, the European market held 58 percent of the total export. Export to Asia is 21 percent, while those to North America - 13 percent. The company plans to increase exports to countries of Central and Eastern Europe in the next few years because of the rapid development of the animalbreeding sector.
Source: Pari (06.04.2009)

The company is registered in Territorial administration Big taxpayers and insurers towards 2009, 04.30
Source: Tax Administration (30.04.2009)

Biovet JSC - Peshtera has appointed an annual general meeting on 19.06.2009. Meeting agenda includes: 1. Adoption of the Board of Directors for the activities of the company in 2008; 2. Ratification of the annual financial statement for 2008; 3. Adoption of the report of the certified expert-auditor for the inspection of the annual financial report of the company for 2008; 4. Ratification of the annual consolidated financial report; 5. Ratification of the report of the certified expert-auditor for the inspection of the annual financial report of the company for 2008; 6. Appointment of an audit committee; 7. Determination of the term of the audit committee; 8. Ratification of the decision for distribution of the profit for 2008; 9. Discharging the members of the Supervision Board and the Board of Directors for their actions in 2008; 10. Determining the remunerations of the of management bodies’ members’ from the period starting with the present general meeting untill the next one in 2010, as well as the bonuses for the Supervision Board for 2008; 11. Choice of a registered expert-accountant for 2009; 12. Adoption of the report of the activities of the Director for Investors Relations.
Source: Registry Agency (12.05.2009)

Biovet AD, veterinary drug producer, will capitalise its 2008 profit amounting to BGN 614.540. This will be voted at the general shareholders’ meeting on June 19, 2009. The managing board will offer 10% of it to be placed in a Reserve Fund.
Source: Pari (18.05.2009)

The total profit of the pharmaceuticals and cosmetics companies quoted on the Bulgarian Stock Exchange increased 8% in the first quarter of 2009, the companies' reports show. Sopharma, Aroma, Bulgarska Roza Sevtopolis, Bulgarska Rosa Karlovo, Bulgarska Rosa Plovdiv, Biovet, Lavena and Medica posted a total profit of BGN 10.2 million. However, only Sopharma, Biovet and Medica booked higher results and Bulgarska Rosa Plovdiv managed to cut down its loss. Sopharma was a leader with a profit of BGN 9.7 million, up 30% year on year. Sales in the sector totalled BGN 159.7 million in the first quarter of 2009, rising 4% compared with the year-ago period. This is one of the few sectors that managed to stay almost unaffected by the financial crisis, analysts say.
Source: Pari (15.06.2009)

Biovet-Peshtera, Bourse code 53B, the General Meeting of which was held on June 19 2009, shall not distribute dividends for 2008. Biovet-Peshtera reported a profit to the amount of BGN 614 542.58. The company shall allocate the amount of BGN 61 454.26 in the Reserves fund and the rest BGN 553 088.32 as Additional reserves.
Source: Capital market (23.06.2009)

The non-consolidated report of Biovet AD shows a 5.6-percent growth of total income for the first half of 2009. Turnover at the end of June was BGN 60.11 million compared to BGN 57 million for the same period the previous year. Sales of the veterinary drug maker for the first six months added 5.2% to BGN 59.3 million. Profit rose 19-fold to BGN 1.58 million. A year ago the financial result stood at BGN 85,000.
Source: Pari (19.08.2009)

The turnover of animal health product maker Biovet of Peshtera for the first nine months of 2009 increased 5%, the company's non-consolidated report shows. Total operating income reached BGN 86.9 million. The bulk of it, BGN 85.9 million, was generated by sales. Government financing nearly doubled to BGN 247,000. Biovet's net profit surged 28-fold to BGN 2.2 million at the end of September. Itemised expenses amounted to BGN 82.2 million, up 3% year on year. Biovet exports more than 90% of its products to Europe, Asia and the Americas. The company has undertaken to expand its product list and continue the reconstruction and modernisation of production facilities in 2009.
Source: Pari (28.10.2009)

The profit of the listed pharmaceutical companies doubled in the first nine months of 2009 to BGN 35.8 million. That emerged from a Pari daily's analysis of the reports of Sopharma, Biovet, Bulgarska Roza Sevtopolis, Septona Bulgaria and Unipharm. Pharmaceutical makers were almost unaffected by the crisis, financial analysts are unanimous. Demand for drugs is not related to the condition of the economy. The crisis even had a positive effect on pharmaceutical companies, because cost-cutting measures as a rule improve earnings, Elana Trading's Tsvetoslav Tsachev pointed out. Nearly 90% of the total profit in the sector was generated by Sopharma. The drug giant raised its earnings 90% to a touch above BGN 32 million. The impressive result was due to the anti-crisis policy of cost cutting. According to CEO Ognyan Donev, Sopharma will achieve its projections for an 8-percent rise in sales and a double profit in 2009, year on year. The profit of the second biggest listed drug maker, Biovet, increased 31-fold to BGN 2.14 million. The bottom-line result of Bulgarska Roza Sevtopolis was 28-percent higher and amounted to BGN 683,000. Septona Bulgaria's profit doubled to BGN 918,000. Only Unipharm's earnings dropped 58% to BGN 702,000. The companies' sales also rose, though much less than profits. Sopharma's sales edged up 1.6% to BGN 350.6 million. Its subsidiary Bulgarska Roza Sevtopolis boosted sales 5.6% to BGN 9.8 million. Biovet reported a 4-percent rise to BGN 85.9 million.
Source: Pari (02.12.2009)

The indexes of the Bulgarian Stock Exchange (BSE) slumped last week on negative foreign pressure and investors' concerns about Dubai and Greece's debts. On Friday, the blue-chip Sofix index closed at 431.26 points, down 4.73% for the week. BG40 of the most traded stocks fell 2.74% to 117.66 points. BGTR30 of the best performers in total return was 331.49 at close on Friday, losing 3.15% for the week. The real estate investment trust index, BGREIT, dropped 2.13% to 47.85 points. Trade on Friday resulted in almost no change for the indexes. Turnover was bigger than the traditional one and amounted to BGN 3 million. It was due mainly to trade in Balkan's stock. Biovet accounted for BGN 606,000 of the turnover, its price dipped 0.14% to BGN 6.29. Deals in Sopharma totalled BGN 145,000, the shares cheapened 0.25% to BGN 3.99.
Source: Pari (14.12.2009)

Bulgaria’s Lovech-based bike maker Balkan will slim down its workforce by making 10 percent of them redundant, te company said. The decision was taken at a board meeting on Thursday and will be effective from February. The company did not identify the reason for the decision. In its September earnings statement, Balkan said demand has drastically dwindled since fourth-quarter 2008, forcing the company to send its staff on a leave. Balkan sells a substantial portion of its produce abroad. The company posted a loss of BGN 379,000 for the nine months and long-term liabilities added up to BGN 2.426 million. As at end-2008, Balkan had 206 people on the payroll, whose numbers have diminished in the past few years.
Source: Dnevnik (14.12.2009)