Hydraulic Elements and Systems’ (HES) monthly sales increased 16.1% YoY to BGN 7.9m in Sep’25, or in line with management’s expectations. Pre-tax profit for the month amounted to BGN 885k, compared to BGN 608k profit a year ago. Jan-Sep 2025 sales stood at BGN 61m (+8.2% YoY), while EBT came to BGN 4.1m (+21.8% YoY) on a margin of 6.8% (+0.8 p.p. YoY). October 2025 is expected to bring company revenue of BGN 8.5m (+14.3% YoY), which would bring 10-mo sales to BGN 69.5m (+8.9% YoY).