Kaolin Ad

For the first nine months of 2011 Kaolin AD generated consolidated revenues from activities in the amount of BGN 125 mln, which is an increase by more than 10 % as compared to the same period of the previous year. The individual production revenue marked a significant growth by more than 25 % as compared to the first nine months of 2010.

The consolidated profit increased by more than 30 % from BGN 7,566 thous. in 3Q 2010 to BGN 10,063 thous. in 3Q 2011. The individual financial result of the company as of 30.09.2011 marked a 37%  growth amounting to  BGN 9,849 thous. as compared to BGN 7,172 thous. for the same period in 2010.

For the reported period of the current year the operating expenses grew at significantly slower rates (7%) compared to the revenues growth.

The glass and ceramics industries, which are the two largest industries in Kaolin’s portfolio, marked a sustainable growth, whereas the glass industry reported an increase by more than 45% as compared to the same period in 2010, and the ceramics industry marked a 20% increase as compared to the comparable reporting period in the preceding year.

Revenues from the casting industry marked a considerable increase (135 %) as compared to the first nine months of 2010. The growth of the paper industry amounted to 22 %.

As at end of the current nine-month period investments in plant, equipment and other assets of Kaolin AD marked a significant increase by more than BGN 10 mln. as compared to the previous year. The biggest investment is related to the machinery and equipment within a technological modernization project of Kaolin AD, implemented through an investment support for production expansion under the Operational Program "Development of the Competitiveness of the Bulgarian Economy 2007-2013". The project was completed in time and the facilities are currently operating.