Elana Agrocredit‘s Q2 net profit declined on lower interest income (NEGATIVE)
Source: Elana Agrocredit; FFBH
Elana Agrocredit reported Q2 interest income of BGN 1m (-4.4% YoY). Taxes, commissions and other revenue brought BGN 349k (+139% YoY), while BV of sold property advanced to BGN 311k (+201.9% YoY). As a result, Q2 net profit stood at BGN 0.8m, down 3% YoY. This translates into EPS of BGN 0.02.
That said, H1 interest income was BGN 2.2m (-4.8% YoY), while H1 net profit reached BGN 1.6m (-5.3% YoY). Elana Agrocredit financial lease receivables amounted to BGN 38.3m (+4.8% YtD). Loan portfolio, however shrank BGN 0.1m in the quarter and stood at BGN 15.1m at half-year.