Industry Report Manufacture of Tobacco Products 2014 Bulgaria
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Industry Report Manufacture of tobacco products 2014 Bulgaria seenews.com/reports This industry report is part of your subcription access to SeeNews | seenews.com/subscription CONTENTS I. KEY INDICATORS II. INTRODUCTION III. REVENUES IV. EXPENSES V. PROFITABILITY VI. EMPLOYMENT 1 SeeNews Industry Report Total revenue BULGARIA Net sales revenue 1,000,000,000 I. KEY INDICATORS 919,713,000 900,000,000 854,841,000 The Manufacture of tobacco products industry in Bulgaria 805,977,000 was represented by 19 companies at the end of 2014, 800,000,000 compared to 18 in the previous year and 18 in 2012. 802,999,000 804,087,000 700,000,000 722,387,000 The industry's net profit amounted to BGN 38,505,000 in 2014. 600,000,000 500,000,000 The industry's total revenue was BGN 919,713,000 in 2014, BGN up by 7.59% compared to the previous year. 400,000,000 The combined costs of the companies in the Manufacture 300,000,000 of tobacco products industry reached BGN 876,317,000 in 2014, up by 9.62% year-on-year. 200,000,000 100,000,000 The industry's total revenue makes up 1.19% to the country's Gross domestic product (GDP) in 2014, compared 0 to 1.12% for 2013 and 1.07% in 2012. 2012 2013 2014 A total of 3,140 people were employed in the Manufacture of tobacco products industry at the end of 2014, compared The companies in the Manufacture of tobacco products to 3,363 in 2013 and 1,928 in 2012. market of Bulgaria earned combined net sales revenues of BGN 804,087,000 in 2014. Most of the companies in the industry are based in Sofia, followed by Parvomay and Plovdiv. In annual terms, sales marked an increase of 0.14% compared to 2013. In comparison to 2012 they went up by 11.31%. In 2013 sales grew by 11.16% year-on-year. II. INTRODUCTION The Manufacture of tobacco products industry total revenue make up 1.19% to the country's GDP in 2014, compared to In 2014 the companies in the Manufacture of tobacco 1.12% for 2013 and 1.07% in 2012. products industry numbered 19. Share In 2013 there were a total of 18 companies operating in the 1.19% industry. In 2012 their number totalled 18. 1.2 1.12% 1.11.07% NUMBER OF COMPANIES IN MANUFACTURE OF TOBACCO PRODUCTS INDUSTRY BY SECTORS 1 SECTOR 2014 2013 2012 MANUFACTURE OF TOBACCO PRODUCTS 19 18 18 0.9 0.8 III. REVENUES 0.7 0.6 The total revenue in the industry was BGN 919,713,000 in 2014, BGN 854,841,000 in 2013 and 805,977,000 in 2012. 0.5 0.4 0.3 0.2 0.1 0 2012 2013 2014 In 2014 the Manufacture of tobacco products industry contributed to GDP BGN 872,744,000 in Gross value added (GVA) accounting for 0.61% of the total for the country's economy. In the previous year, the industry's GVA amounted BGN 815,283,000, accounting for 0.60% of the total for the 2 SeeNews Industry Report country in 2013. In 2012 the GVA of the Manufacture of tobacco products was BGN 758,896,000, or 0.59% of the LIYV TABAKO A. MIHAYLIDIS AD 48,415,000 GVA for the country's economy. PLEVEN-BULGARTABAK AD 35,118,000 PARVOMAY-BT AD 19,159,000 We expect, based on the trend in the last three years, the total SLANCE STARA ZAGORA-TABAK AD 9,827,000 revenue of the Manufacture of tobacco products industry to KARDZHALI TABAK AD 9,674,000 change at a compound annual growth rate (CAGR) of 6.82% VALTABAK EOOD 2,437,000 in 2015. The 10 largest companies in terms of total revenue in sector The top 10 companies in terms of total revenue in Manufacture of tobacco products earned total revenue of Manufacture of tobacco products accounted for 99.47% of BGN 914,837,000 and accounted for 99.47% of the industry's the industry's total in 2014, 99.58% in 2013 and 99.59% in total revenue. 2012. TOP 10 COMPANIES BY TOTAL AND NET SALES REVENUE IN THE INDUSTRY IV. EXPENSES RANK COMPANY TOTAL REVENUE NET SALE (BGN) REVENUE (BGN) The combined costs of the companies in the Manufacture of 1 BLAGOEVGRAD-BT AD 299,764,000 285,296,000 tobacco products industry reached BGN 876,317,000 in 2014. 2 SOFIA - BULGARTABAC AD 270,922,000 244,112,000 3 SOKOTAB EOOD 136,932,000 113,634,000 4 KING'S TOBACCO EAD (FORMERLY KNOWN 82,589,000 67,499,000 Total Expenses AS PLOVDIV-BT AD) Operational expenses 5 LIYV TABAKO A. MIHAYLIDIS AD 48,415,000 36,232,000 900,000,000 876,317,000 6 PLEVEN-BULGARTABAK AD 35,118,000 31,694,000 7 PARVOMAY-BT AD 19,159,000 12,717,000 799,440,000 800,000,000 840,360,000 8 SLANCE STARA ZAGORA-TABAK AD 9,827,000 4,955,000 9 KARDZHALI TABAK AD 9,674,000 4,074,000 698,033,000 781,900,000 700,000,000 10 VALTABAK EOOD 2,437,000 1,361,000 678,259,000 600,000,000 The total revenues of the top 10 companies in the Manufacture of tobacco products were 1.18% of GDP in 2014, 500,000,000 compared to 1.12% for 2013 and 1.07% in 2012. BGN 400,000,000 The top 10 by assets in the Manufacture of tobacco products field made up BGN 800,290,000, or 99.53% of the total net 300,000,000 sales revenue. 200,000,000 TOP 10 BY TOTAL ASSETS IN THE INDUSTRY RANK COMPANY BGN 100,000,000 1 BLAGOEVGRAD-BT AD 387,893,000 2 SOFIA - BULGARTABAC AD 251,427,000 0 3 SOKOTAB EOOD 181,471,000 2012 2013 2014 4 KING'S TOBACCO EAD (FORMERLY KNOWN AS PLOVDIV- 144,125,000 BT AD) 5 LIYV TABAKO A. MIHAYLIDIS AD 119,483,000 In annual terms, total expenses went up by 9.62% compared 6 KARDZHALI TABAK AD 40,933,000 to 2013 and increased by 25.54% in comparison to 2012. 7 PLEVEN-BULGARTABAK AD 32,694,000 8 PARVOMAY-BT AD 18,873,000 The total operating expenses of the companies in the 9 SLANCE STARA ZAGORA-TABAK AD 15,756,000 Manufacture of tobacco products industry were BGN 10 DUPNITZA-TABAK AD 13,889,000 840,360,000 in 2014. TOP COMPANIES WITH HIGHEST ANNUAL GROWTH IN Operating costs went up by 7.48% compared with the OPERATING REVENUE IN MANUFACTURE OF TOBACCO previous year and increased by 23.90% when compared to PRODUCTS 2012. RANK COMPANY Y/Y GROWTH 1 MEHANIKA AD 3118.52% We expect, based on the trend in the last three years, the total 2 TABAKO LEAF HAUS OOD 1100.00% costs of the Manufacture of tobacco products industry to 3 PLEVEN-BULGARTABAK AD 48.86% change at a compound annual growth rate (CAGR) of 12.05% 4 VALTABAK EOOD 48.67% in 2015. 5 TOPOLOVGRAD BT AD 22.23% Employment expenses in the Manufacture of tobacco TOP 10 COMPANIES BY TOTAL REVENUE IN THE INDUSTRY WERE: products industry decreased by 0.48% on the year to BGN COMPANY BGN 74,958,000 in 2014. BLAGOEVGRAD-BT AD 299,764,000 SOFIA - BULGARTABAC AD 270,922,000 SOKOTAB EOOD 136,932,000 KING'S TOBACCO EAD (FORMERLY KNOWN AS PLOVDIV-BT AD) 82,589,000 3 SeeNews Industry Report Employment expenses Average taxes expenses by company 595,444 Salaries expenses 600,000 Social security expenses 550,000 80,000,00077,569,000 75,318,000 74,958,000 500,000 70,000,000 450,000 400,000 60,000,000 65,021,000 61,892,000 60,761,000 350,000 334,000 50,000,000 300,000 BGN 257,421 40,000,000 250,000 BGN 200,000 30,000,000 150,000 20,000,00015,677,000 100,000 9,055,000 9,657,000 10,000,000 50,000 0 0 2012 2013 2014 2012 2013 2014 The monthly costs per employee in the Manufacture of tobacco products industry averaged BGN 1,989 in 2014, BGN 1,866 in 2013 and BGN 3,353 in 2012. V. PROFITABILITY The monthly social security costs per employee in the The industry's net profit amounted to BGN 38,505,000 in industry averaged BGN 256 in 2014, versus BGN 224 in 2013 2014, compared to a net profit of BGN 49,389,000 in 2013 and BGN 678 in 2012. and a net profit of BGN 97,226,000 in 2012. THE TOP 10 COMPANIES BY AVERAGE MONTHLY COSTS PER Net profit/loss EMPLOYEE IN THE INDUSTRY Operating profit/loss RANK COMPANY BGN 107,956,000 1 MEHANIKA AD 8,167 110,000,000 2 SOFIA - BULGARTABAC AD 3,314 100,000,000 3 BLAGOEVGRAD-BT AD 3,195 4 TOBAKO END SUPLAYZ LIMITED OOD 1,833 90,000,00097,226,000 5 SOKOTAB EOOD 1,604 80,000,000 6 TOPOLOVGRAD BT AD 1,483 7 SLANCE STARA ZAGORA-TABAK AD 1,150 70,000,000 8 PLEVEN-BULGARTABAK AD 1,135 9 KING'S TOBACCO EAD (FORMERLY KNOWN AS PLOVDIV-BT 1,090 60,000,000 55,536,000 AD) BGN 50,000,000 10 DUPNITZA-TABAK AD 979 43,417,000 49,389,000 40,000,000 The industry's tax expenses stood at BGN 4,891,000 in 2014.