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Нова платформа за бизнес информация на CBN - Pannoff, Stoytcheff & Co.:

1 декември 2021 г.

The Automotive industry in Bulgaria: successful example of production and investor interests?

Four times more assets, invested in factories and equipment in the last 10 years - the largest growth among all 24 manufacturing sectors in the country. Manufactured high-tech products annually for over BGN2.5B with investments from the largest in this industry in the world. These are real results from an independent source for a new successful industry in Bulgaria - the automotive industry. 

The general picture *

In 2020, a total of 51 companies (with revenue > $ 1M) produced car parts and accessories in Bulgaria. Sixteen of them are large enterprises (employees > 249) and fourteen are medium-sized enterprises (employees between 50-250). Their total operating income reached BGN2.98B or 2.5% of GDP, and their employees - 22, 746 people or 1.0% of employees. 

Geographical distribution

The agency notes that this business is one of the few in Bulgaria that is extremely well geographically distributed and provides employment in 18 districts and 29 settlements in the country, with only 13% of enterprises based in Sofia. 

Investors **

28 companies in the automotive industry in Bulgaria are owned by foreign investors, and the revenues for 2020 of the largest of them exceed the limit of half a billion levs. They hold approximately 96.0% of the turnover in the industry in the country. 

Investors from 10 countries with traditions and positions in the global automotive industry manage production facilities in Bulgaria, including Germany, USA, Japan, France, Czech Republic, Italy, Turkey, Sweden, and Switzerland. Only the German ecosystem (11 companies) annually manufactures automotive products in the country for BGN890.1M. 

Digitization ***

The production of car parts and accessories in Bulgaria is a business with one of the highest levels of digitalization in the country. According to the agency survey, at least 50% of operating revenues and 57% of staff are managed using ERP systems by the end of 2020. 

The pandemic and state aid ****

During the crisis caused by the Covid-19 pandemic, the state provided subsidies for more than 13,000 jobs in 37 companies from the automotive industry. For the 19 months of the program, also known as 60/40 [Letters from the Council of Ministers № 55, 93, 151, 213, 278, 322, 416], the industrial sector received subsidies for job protection in the amount of BGN 56.7M. 



All data in the analytical part of the article are from the agency's own and independent research, namely:  

* "Manufacture of motor vehicles and trailers in Bulgaria '2020: 15 Basic Financial Results & KPIs": https://www.patreon.com/posts/59317804

** "Foreign investors & Global brands: TOP-2000 in Bulgaria - CBN ¹ selection 2021": http://blog.cbn-bulgaria.com/2020/01/global-brands-key-fi.html

*** „CBN2021_ERP, CRM and BI business in Bulgaria 1996 - 2021_Statistics and Data Base ed. XXVII”: http://blog.cbn-bulgaria.com/2021/11/cbn2021erp-crm-and-bi-business-in.html

**** "Database [500,000+ records] with companies and organizations: Employment subsidies in Bulgaria 2020 - 2021 [CMD 55, 93, 151, 213, 278, 322, 416]": http://blog.cbn-bulgaria.com/2020/11/2020-55.html 

This publication, in whole or in part, may not be copied, reprinted and / or distributed by private and / or legal entities, media and / or electronic sites without the express written permission of the authors. Otherwise, infringers will be held liable under the Copyright and Related Rights Act.  

©2021 CBN Pannoff, Stoytcheff & Co.  


Status, future, and prospects…

InvestBulgaria Agency organizes webinar titled: “Global trends for development in automotive industry. Review of investment opportunities in Bulgaria” on 9th of December 2021, at 11.00 a.m., EET UTC

The following topics will be presented at the webinar:

Ø  Best practices in foreign investments in the automotive industry in Bulgaria.

Ø  Development of the sector as of today.

Ø  Qualified workforce, existing engineering know-how.

Ø  The investment climate in Bulgaria. The advantages provided by the incentive measures to promote the investments and the state mechanisms for their implementation.

Ø  Increase by 30% in the sales of new automobiles in the USA, China, and Europe.

Ø  55% of all the sales of new automobiles in Europe may be fully electrical by 2030 – trends.

 Potential participants can register by 8th of December on the following link: https://investbulgaria-virtualoffice.com/bg/events/global-trends-for-development-in-automotive-industry-review-of-investment-opportunities-in-bulgaria/

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