Stara Planina Hold (SPH) reported February 2025 revenue of BGN 22m, down 12.6% YoY, in line with management’s expectations. As a result, 2-mo total sales stood at BGN 43m (-17.1% YoY), compared to BGN 51.9m a year ago. According to the statement, March 2025 forecast is for monthly revenue of BGN 22.5m (+0.9% YoY), which would result in 11.7% YoY decline of 3-mo sales to BGN 65.5m.