Doverie’s audit brought small changes to 2021 consolidated financials (NEUTRAL)

04.05.2022 Source: Doverie United Holding; FFBH

The audit of 2021 consolidated financials reduced the net profit to equity holders of Doverie United Holding by 0.7% compared to preliminary figure while slightly increasing the minority interest. 2021 operating profit surged by 103% YoY on the back of growth of the operating income of the bank (+28.8% YoY) and the improved result from other business sectors (+17% YoY). Administrative cost increased by 12.9% YoY and depreciation declined 24.2% YoY bringing consolidated net income of BGN 59.7m, +98.3% YoY. The net income for shareholders of the mother company came to BGN 44.8m (EPS of BGN 2.08), +109.8% YoY.