Bulgarian refrigerators and freezers producer Liebherr-Hausgerate Marica, part of Swiss-headquartered Liebherr Group, said that its net profit plunged to 716,000 levs ($416,000/366,000 euro) in 2018 from 13 million levs the year before.
Liebherr-Hausgerate Marica’s sales of finished goods fell to 402.7 million levs last year from 412.0 million levs in 2017, the company said in an annual financial statement.
The company manufactured 898,000 refrigerators and freezers in 2018.
Expenses for materials fell to 306.8 million levs in 2018 from 321.0 million levs in 2017, while personnel costs rose to 49.5 million levs from 48.7 million levs.
Amortisation and depreciation costs edged down to 26.1 million levs last year from 26.9 million levs in 2017. Expenses for hired services amounted to 19.2 million levs in 2018, up from 18.0 million levs the year before.
The company’s assets fell to 250.9 million levs at the end of 2018 from 271.1 million levs a year earlier.
Liebherr-Hausgerate Marica employed 1,903 people at the end of 2018.
Liebherr-Hausgerate Marica manufactures table-height refrigerators and freezers, non-regulated combined fridge-freezers, as well as top freezers, at its 252,800 sq. m. production plant near Plovdiv.