Hydraulic Elements and Systems (HES) monthly sales surged 77.9% YoY to BGN 7.6m in Nov’21. The figure came just 0.5% above the management’s expectations. Pre-tax earnings for the month jumped 34.9% YoY and amounted to BGN 927k. Jan-Nov 2021 sales stood at BGN 65.2m (+37.9% YoY), while EBT advanced to BGN 8.7m (+47.4% YoY). EBIT margin for the month stood at 12.1% (-3.9 p.p. YoY), while 11-mo margin advanced 0.9 p.p. YoY to 13.3%. December 2021 is expected to bring the company a revenue of BGN 6.1m (+69.9% YoY), which would bring YTD sales to BGN 71.3m (+40.2% YoY).