M+S Hydraulic JSC - Kazanluk - Short Company profile

BSE manufacturing companies are increasing their revenues in the first half of the year. Shumen-based aluminum products manufacturer Alkomet reports increased production in all three workshops of the plant, after recently completing its 70 million euro investment program and installing new facilities. The plant recorded double-digit sales growth in volume, reaching 43.8 thousand tons. In pressed products, sales of standard profiles increased by 57%, driven by construction and renewable projects. However, there was a slight decrease in special profiles (the second largest group of pressed products) due to the postponement of modernizations and launch of new production lines by the industry as a result of the uncertainty of the European industry. In rolled products, demand for aluminum sheets (91.3%) and aluminum strips (52.9%), which are used in mechanical engineering and transport equipment, is significantly increasing. Active demand is also supported by the development of electric vehicles and the increased production of battery systems. However, the decline in household foil (-9.5%), which has the largest share in the production of rolled products, continues. The company reports a significant increase in material costs (about 22%), which is also a reason for the increase in losses. Personnel costs are also higher, with the number of employees increasing to over 1,350 by the middle of the year. The fertilizer producer "Neochim" - Dimitrovgrad, notes the strongest growth in revenue among all public industrial companies - 63%. This helps it to make a profit, of nearly 11 million euros. The plant's costs are also increasing, mainly for natural gas, which is its main raw material, which suggests increased production. The same is shown by the reported 14 million euros in carbon emissions costs (above free quotas) compared to practically zero for the same period last year. The company also has higher personnel costs, although the number of employees remains relatively stable - about 640 people. The main shareholders are Eco Tech (24.28%), Euro Fert (24.03%) and Feboran (20.3%). The latter company was acquired by Reya Ventures, owned by Agropolychim, at the beginning of last year. In addition, Reya Ventures holds another 3.72% directly in Neochim. Battery manufacturer Monbat slightly reduces its revenue due to lower lead stock prices. At the same time, batteries sold are 1.5% more than in the first half of 2025. Operating expenses are also decreasing, which reduces the group's loss. Sales of batteries and raw materials for their production (lead plates) by the Tunisian Societe Nouvelle des Accumulateurs NOUR to counterparties in Tunisia and North Africa increase by 25%, the report shows. At the end of last year, Monbat signed an agreement to acquire the remaining 40% of NOUR (the first 60% were acquired in 2022) for a total of EUR 9.053 million, with the price payable in three stages. The first payment (EUR 4.053 million) was made in June this year, and the remaining two (EUR 2.5 million each) are due at the end of this and next year. In the meantime, NOUR has acquired 49.14% of the capital of the recycler Societe Nour Recycling from its minority partner, with which it now holds 100%. The other segments of the Monbat group also reported sales growth. This included a 6% increase in sales of lead and lead alloys from the group's recycling plants. The group's lithium-ion division also recorded a 14% growth in revenue. Almost all of the group's sales are abroad (nearly 93%), with the markets being highly diversified, the largest being Germany. However, the revenues of "Elhim Iskra" (part of "Stara Planina Hold") have decreased by more than a third, and the costs are also about 50% lower as a result of capacity restrictions. In March this year, the company's management decided to stop the operation of the enterprise, but a month later a plan was adopted for restructuring and discontinuing inefficient activities and processes. Semi-traction batteries and elements are currently being produced, with only the automated lines being loaded. Orders are being fulfilled with a guaranteed margin and low technological risk. As of May this year, the plant employs 174 people (208 people a year earlier). For the second half of the year, the company expects revenues of about 6.5 million euros, which will be a decrease of 2.65% on an annual basis. For the whole year, the decrease is expected to be about 20% and sales to be in the order of 12.3 million euros. Growing revenues and higher profits are reported by the manufacturers of hydraulic products "M+S Hidraulic" and "Hydraulic Elements and Systems" (HES), which are also part of "Stara Planina Hold" and work for the mechanical engineering sector. Kazanlak's "M+S Hidraulic" is currently building a second plant in the city, which will increase its capacity by over 30%. Over 97% of production is exported. The consolidated report also includes a plant in Serbia (Liam Hidravlika) and two trading companies. However, the company's management recently decided to shut down the Serbian enterprise, and in the future production will be concentrated in Kazanlak. HES in Yambol also exports mainly to EU countries. The main client is the Palfinger group, but its share in total sales this year decreased to 63.5%. The company's business is traditionally cyclical, with the strongest being the first quarter, which is also visible in the data for this year. For the first half of the year, revenues increased by nearly 10%, but only for the second quarter did the company report a minimal decline (under 1%) on an annual basis. However, compared to the same period in 2024, there was double-digit growth.