Bulgaria’s Elana Agrocredit land buy financing plunges y/y in June

Sofia: Bulgarian agricultural leasing company Elana Agrocredit [BUL:EAC] said it signed deals to finance agricultural land purchases worth a total of 363,723 levs ($202,836/185,968 euro) in June, compared to 2.43 million levs booked in the same month of 2023.

Elana Agrocredit financed the purchase of 13.8 hectares (ha) of land last month, down from some 130.8 ha a year earlier, the company said in a regular activity report.

Month-on-month, the value of deals grew 8.2% in June, from 336,178 levs in May, with the financed land volume falling from nearly 12.5 ha.

The financial leasing company agreed seven land purchase financing deals last month, compared to 22 in the same month of 2023 and four in May.

As of 1400 CEST on Tuesday, shares in Elana Agrocredit traded 1.83% lower at 1.07 levs on the Bulgarian Stock Exchange.