Bulgaria’s TPP Maritsa 3 deepens 9-mo non-cons net loss

Sofia: Bulgarian thermal power plant (TPP) Maritsa 3 [BUL:MR3] said on Monday that its standalone net loss in the nine months through September widened to 15.8 million levs ($8.7 million/8.1 million euro) from 8.5 million levs a year earlier as a result of a drop in revenue.

The company’s overall revenue sank to some 10.1 million levs in the first nine months of this year from 31.6 million levs in the like period of 2023, TPP Maritsa 3 said in an interim financial statement. Product sales generated roughly 7.7 million levs, down 64% in annual terms.

The coal-fired power plant narrowed its total expenses to some 26 million levs in the review period from 40.1 million levs in January-September last year. Costs for materials slid to 7.5 million levs from 25.2 million levs, while expenses for hired services, amortisations and remuneration also shrank significantly.

The plant, which has one functioning 120-MW unit, is located in the town of Dimitrovgrad in southern Bulgaria.

Shares in TPP Maritsa 3 last traded at 134.628 levs on the Bulgarian Stock Exchange’s BaSE market, bourse data show.