Melt EIG insurer financial results Eurohold

Eurohold Bulgaria came to a net loss of just over 4 million for the first six months of 2009 It is clear from the consolidation of the company, which were first included three podholdinga EIG, Autoliyz Avto Union Holding Group. In comparison, for the same period last year Eurohold had a positive financial result of EUR 41.03 million

Of the three podholdinga only one loss – EIG and the Romanian division because it said Cyril Boshova, Chairman of the Board of Eurohold Bulgaria. He explained that the motor insurance market in Romania is located in a heavy period in comparison with Bulgaria. One reason for this is the drastic decline in sales of new cars in Romania. EIG companies reported total losses of EUR 3.8 million loss on an unconsolidated basis Eurohold and minority interest are other factors that led to negative financial result of the economic group.

Net revenues from sales of Eurohold Bulgaria rose by 12 percent to 171.3 million at June 30, 2009 Meanwhile, financial revenue of the group were dropped twice in the end of the period amounted to 25.3 million big differences come from transactions with subsidiaries made during the first half of 2008, which had a single effect.
For us the worst of the crisis passed and the end of the year we expect to come out of profit forecasts Cyril Boshova.

––––––––––––––––– ––––––––––

Finance