Bulgarian rose living a new springtime

Bulgarian Rose – Sevtopolis AD is named after two things our country is proud of – its natural richness of oil roses and its history – Sevtopolis is the name of an ancient Thracian city. Sadly, its modern history started as a victim of the transition chaos in the nineties.

• The company changed owners several times after its privatization in 1997, until in 2004 it became part of Sopharma Group
• After the first three “successful” privatizations the company could be pictured in short with the following facts and figures:
  • 11 million BGN losses;
  • 8.8 million BGN bonds issued;
  • Over 2 million BGN payables to suppliers;
  • Payables to the National Health Insurance Fund;
  • Unpaid taxes … etc.

In the first 3 years with Sopharma it underwent a massive makeover:

Capital investments

• New modern facility for secondary packaging and a new warehouse for raw materials with total area of 880 sq. m.

• New, cleaner and more efficient energy source for the steam production

• New water cleaning system helps reuse water in the production cycle

• State of the art tablet filming machine provides 50% production capacity increase

• New GMP certified facility for extracting the active ingredients from medicinal plants with 100 tons annual production capacity was finished this year

•  Sopharma purchased more than 4 000 acres agricultural land in the region of Kazanlak to be planted with medicinal plants for the production needs for Sopharma and Bulgarian Rose – Sevtopolis
• The production process will now be supplied regularly with hard to obtain raw materials on reasonable prices
• Also, by undertaking this step Sopharma and Bulgarian Rose – Sevtopolis will provide work for more than 50 agricultural workers and will unfold and make use of the potential of a large area of deserted agricultural land.

• A modern warehouse for storage of plant raw materials was built
• Additional machines for the tablet facility were be purchased – 720,000 BGN
• Additional modern machines for the phytochemical facility purchased - 1.5 million BGN
• The warehouse for finished goods has been rebuilt – 800,000 BGN
• New laboratory equipment purchased – 400,000 BGN, etc.

SEVTO on BSE-Sofia AD

• The shares of Bulgarian Rose Sevtopolis are traded on the official segment “B” on the BSE-Sofia AD. The company is included in the BG-40 index;
• For the three years with Sopharma the position of Bulgarian Rose – Sevtopolis on BSE – Sofia shows substantial improvement;
• The shareholders physical persons increased from 768 in 2005 to 1200;
• The shareholders legal persons increase from 16 in 2005 to 72;
• The shareholder capital increased from 754,089 BGN in 2004 to 12,065,424 BGN in 2007 – and increase of 16 times.
  

“Bulgarian Rose” blossoms with Sopharma

• With the management by Sopharma, Bulgarian Roze - Sevtopolis transformed from an almost bankrupt company to:
  
  
  • Company with 100% load of production capacities;
  • Company with secured markets;
  • Company with shareholder capital of 12 million BGN;
  • Company without debts;
  • Company with an aggressive investment program and market capitalization of over 35 million BGN;
  • Company with 2 times increase in sales income for the period 2004 – 2007 – sales reached 12 million BGN;
  • Company with 3 times increase in profit for the same period;
  • Company with 55 times increase in capital expenditures – 8 million BGN for the last year, etc.
  • Bulgarian Rose – Sevtopolis is only one example of Sopharma’s acquisition success.

In 2015 the company flows into Sopharma and is already one of its production sites.