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Chernomorski Solnitsi AD (Bulgaria)

Main Activities: All Other Nonmetallic Mineral Mining
Full name: Chernomorski Solnitsi AD Profile Updated: September 08, 2023
Buy our report for this company USD 29.95 Most recent financial data: 2021 Available in: English Download a sample report

Chernomorski Solnitsi, which was set up in 1906, is the largest company yielding and processing salt, lye and magnesium products for food and industry facilities in Bulgaria.
The company produces salt at the Atanasovo lake, northwest of the Black Sea port of Burgas.
Apart from salt pans, the company owns a factory for salt processing and packaging and a 40 kilometres railway network.
Between 120,000 and 140,000 tonnes of salt are used in Bulgaria annually, mainly as road de-icing agent, in the chemical industry and in leather and hide processing.
The company produced 73,000 tonnes of salt in the 2003 season, while the rest was imported from Jordan, Tunisia and Israel.
Chernomorski Solnitsi is the exclusive representative for Bulgaria of Israeli table salt producer Dead Sea Works Ltd.
In August 2000, Bulgaria's Privatisation Agency sold 80% of Chernomorski Solnitsi to local company Bulsol for USD 1.75 million.
The buyer pledged to invest USD 1.7 million in the company over a three-year period and to increase staff to 184 from 154.
The remaining 20% of Chernomorski Solnitsi's equity was offered at preferential prices to its employees.
In May 2005, Bulsol, which is controlled by local industrial conglomerate MG Corporation, sold its stake in the salt producer to Plovdiv-based company Nikdonald 95.
Local media estimated the price of the deal at BGN 6.0 million.

Headquarters
ul. Brezovsko Shose 145A
Plovdiv; Plovdiv; Postal Code: 4003

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Basic Information
Total Employees:
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Outstanding Shares:
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Registered Capital:
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Financial Auditors:
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Incorporation Date:
October 10, 2006
Key Executives
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Executive Director and Member of the Board of Directors
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Member of the Board of Directors
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Member of the Board of Directors
Ownership Details
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41.42%
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15.21%
Company Performance
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Key Financial Highlights
Annual growth percentages for latest two years in local currency BGN. Absolute financial data is included in the purchased report.
Net sales revenue
24.63%
Total operating revenue
18.83%
Operating profit (EBIT)
17.54%
EBITDA
27.23%
Net Profit (Loss) for the Period
38.56%
Total assets
1.11%
Total equity
10.31%
Operating Profit Margin (ROS)
-0.4%
Net Profit Margin
0.51%
Return on Equity (ROE)
1.93%
Debt to Equity Ratio
-13.38%
Quick Ratio
0.07%
Cash Ratio
-0.01%

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