BSE expects double-digit growth for 2016 The indices of the Bulgarian Stock Exchange (BSE) have the potential to send 2016 off with significant double-digit growth, and investors will look for stocks of companies that distribute dividends and of such that can boast good and transparent management, said the director of "Financial markets" at ELANA Trading Dimitar Georgiev to Bloomberg TV Bulgaria. Last year was a difficult one for the exchange, but it made history with the first-ever listing of the software company Sirma Group Holding, which Georgiev described as a success for the whole market. "2015 will be remembered for the lowest stock exchange turnover in the last 13 years. However, the market shows that companies with a good business model and management do attract investors, " Georgiev said, adding that the exchange needs quality companies. "The infrastructure market is sufficiently secured. Of course, there is a lot to be desired. In terms of electronic access to trade Bulgaria significantly exceeds the quality of service offered in the Balkan region. Competition of investment firms in the country is much higher than in neighboring countries with identical markets. This is very good news for consumers, because they have trading platforms available and trading conditions that are excellent in terms of commissions and transaction costs. What we need are more high-quality companies on BSE," added Georgiev.
Source: Standart (20.01.2016)

Bulgaria's Sirma Group, Elana Trading sign market-maker deal Bulgarian software developer Sirma Group Holding said it contracted Sofia-based Elana Trading to provide it with market-maker services. The board of directors of the Bulgarian Stock Exchange has approved the one-year contract, as the admission date of the financial instrument is February 1, Sirma Group said late on Monday in a bourse filing. In 2015, Sirma Group raised BGN 11.5 million in an initial public offering, the biggest on the Bulgarian stock exchange in the past eight years. Sirma Group Holding, founded in 1992 simultaneously in Bulgaria and Canada, employs more than 300 and operates on five continents. The company is active in semantic technology, mobile applications, enterprise resource planning, business intelligence, electronic government, financial and bank services.
Source: investor.bg (26.01.2016)

Sirma Group Holding prelim cons EBITDA flattish at EUR 5 mln in 2015 Bulgarian software developer Sirma Group Holding said in a preliminary report it expects consolidated earnings before interest taxes amortisation and depreciaiton (EBITDA) to edge down to BGN 9.7 million in 2015, from previous year's consolidated net profit of BGN 9.8 million. The group's preliminary consolidated revenues rose 18.7% to BGN 33 million in 2015 compared to the year-ago period, Sirma Group said in a financial report filed with the Sofia bourse. Preliminary consolidated costs rose to 30.3 million levs in the period under review from BGN 22.6 million in 2014. Company's investments in 2015 amounted to BGN 11.9 million focused primarily in semantics, financial and insurance software and hardware. In 2015, Sirma Group raised BGN 11.5 million in an initial public offering, the biggest on the Bulgarian stock exchange in the past eight years. Sirma Group Holding, founded in 1992 simultaneously in Bulgaria and Canada, employs more than 300 and operates on five continents. The company is active in semantic technology, mobile applications, enterprise resource planning, business intelligence, electronic government, financial and bank services.
Source: investor.bg (03.02.2016)

Sirma Group and Veliko Tarnovo Municipality announced JOINT PARTNERSHIP PROGRAM The management of Sirma Group Holding and the Mayor of Veliko Tarnovo – Daniel Panov, discussed the possibilities for cooperation between representatives of the company, the municipality and the local University “St. St. Kiril i Metodiy”. The company announced its intention to open a regional office in the city. Veliko Tarnovo, to enable local professionals and students of ICT to start or continue their careers. Sirma Group develops its strategic program to partnerships with local authorities and universities, the goal is to provide the young Bulgarian software specialists not only job opportunities in the IT sector, and to be part of the global IT business. In addition Headquartered in Sofia, the company has regional offices in Varna, Rousse, Plovdiv and Kazanlak and international sales offices in the US, Canada, Brazil and the UK. Municipal authorities in turn make the necessary efforts to attract high-tech companies by offering them the opportunity to discover regional offices in its territory in order to increase the attractiveness and image of the region, retention of local talent and creating suitable, highly skilled jobs. “The selection of Veliko Tarnovo was supported by the presence of the prestigious university University” St. Cyril and Methodius “where prepare bachelors and masters of the professional field of Informatics and Computer Science. The level of training makes them competitive for work in computer companies developing system and application software and hardware in all sectors of the economy, governance, public administration, education, “said Tsvetan Alexiev, CEO of Sirma Group Holding.
Source: IT Jobs (01.03.2016)

Sirma Group Holding enters into the composition of BGBX40 and BGTR30 of 21 March Sirma Group Holding enters into the composition of the indices BGBX40 and BGTR30 starting March 21. This is a fact after another change in components of all stock indicators of the Bulgarian Stock Exchange (BSE). The amendments are mainly in connection with the return of the issue of the Bulgarian Real Estate Fund REIT (BREF) in the composition of the leading index SOFIX. The company was temporarily removed from all indexes on February 24, as the company's shareholders voted to threefold decrease in the number of shares and threefold increase in the nominal value of each of them. BREF is again in SOFIX replacing Eurohold Bulgaria, but returned in the other indices as well. The newest public company on BSE - the software company Sirma Group Holding, however, makes its way to the broad index BGBX40 and to the equally weighted BGTR30. This occurs about three months after the start of secondary trading in shares of the debutant, which gained BGN 11.5 million from its IPO.
Source: investor.bg (12.03.2016)

Bulgaria's Sirma Group sets up sales unit in US, restructures Bulgarian units Bulgarian software developer Sirma Group Holding established a sales unit in the U.S., Sirma Group Inc, with a capital of USD 2 million. Sirma Group spent a further BGN 1.5 million to restructure two of its Bulgarian units. The investments were funded with the proceeds of the company's successful initial public offering (IPO) on the Sofia bourse. Sirma Group raised BGN 11.4 million in the IPO which closed in October. Its shares started trading on the bourse in December. The holding company also said it is also looking for acquisitions, which it will finance with part of the IPO proceeds. Sirma Group Holding, founded in 1992 simultaneously in Bulgaria and Canada, employs more than 300 and operates on five continents. The company is active in semantic technology, mobile applications, enterprise resource planning, business intelligence, electronic government, financial and bank services.
Source: investor.bg (01.04.2016)

Sirma group invests in medical technologies Sirma group created a new company-Sirma medical systems, which will develop software for medical purposes and applications that insure access to up-to-date medical services. The new company is part of Sirma’s holding but is founded by Rosen Varbanov which founder of the first product in the company’s portfolio-an application for tracking down of diabetic conditions. Heath sector is a new direction of development of Sirma group and part of holding’s growth, which made its successful debut at the Bulgarian Stock exchange and accumulated BGN 11.4 million additional funding. The sum which at that time will be invested in product developments is around BGN 350 thousand. The aim of the new company is to create software applications and platforms, while investment of Sirma Group is a step in the direction of e-Health and Telemedicine
Source: Capital (11.05.2016)

Bulgarian IT firm Daticum posts 178% surge in 2015 sales Bulgarian data center and cloud services company Daticum posted sales revenue of BGN 4.7 million for 2015, up by 178% from 2014, its parent company Sirma Group Holding said. Daticum's new customers rose 25% in 2015, Sirma said in a press release. "Record-high revenue and steady growth of new customers are a proof that we are on the right path," CEO Rosen Marinov commented. Sirma Group raised BGN 11.4 million in an IPO on the Bulgarian bourse, which closed in October. Its shares started trading on the bourse in December. Sirma Group Holding, founded in 1992 simultaneously in Bulgaria and Canada, employs more than 300. The company is active in semantic technology, mobile applications, enterprise resource planning, business intelligence, electronic government, financial and bank services.
Source: ComputerWorld e-Daily (17.05.2016)

Bulgarian Sirma Group Q1 cons net profit rises 17% y/y Bulgarian software developer Sirma Group Holding said its consolidated net profit grew by an annual 17% to BGN 451,000 in the first quarter. Total revenues grew 17.3% to 8.3 million levs in January-March, while total costs rose 16% to BGN 7.7 million, Sirma said in its consolidated quarterly report filed with the Sofia bourse late on Friday. The company's operating profit increased 39% to BGN 562,000. Sirma Group Holding, founded in 1992 simultaneously in Bulgaria and Canada, employs more than 300 and operates on five continents. The company is active in semantic technology, mobile applications, enterprise resource planning, business intelligence, electronic government, financial and bank services. Sirma shares last traded on Thursday, falling 3.45% to BGN 1.12 as 2,963 shares changed hands.
Source: investor.bg (07.06.2016)

Bulgarian software company EngView systems concluded a contract with German producer of plotters ARISTO Bulgarian company for software solutions EngView Systems Sofia AD, which is part of Sirma Group Holding signed a partnership agreement with the leading German manufacturer of multifunctional plotters ARISTO Graphic Systeme GmbH & Co. KG. As a result of this cooperation cutting plotters ARISTO will be offered with software EngView Systems for management of process of creation of packs and displays. With the new name Aristo Designer, CAD / CAM system will offer innovative technology for constructing boxes and displays, meeting the needs of a rapidly changing packaging industry. Both companies presented their joint solution at this year's world exhibition of printing and packaging industry Drupa.
Source: Capital (21.06.2016)

Bulgarian software developer Sirma Group Holding plans to boost its annual revenues more than fivefold to USD 100 million in the next five to seven years. The company has adopted a development programme, which envisages expansion on the U.S. market, investments in new products, as well as an initial public offering (IPO) on a large global market in the next six to eight years, it said in a statement on Thursday. Sirma's revenues rose to BGN 31.7 million last year from BGN 26.5 million in 2014, according to its consolidated financial report. Sirma raised BGN 11.4 million in an IPO which closed in October 2015. Its shares started trading on the bourse in December 2015. In March, Sirma said it had established a sales unit in the U.S., Sirma Group Inc, with a capital of USD 2 million. The group spent a further BGN 1.5 million to restructure two of its Bulgarian units. The holding company also said it is also looking for acquisitions, which it will finance with part of the IPO proceeds. Sirma Group Holding, founded in 1992 simultaneously in Bulgaria and Canada, employs more than 300 on five continents. The company is active in semantic technology, mobile applications, enterprise resource planning, business intelligence, electronic government, financial and bank services. Sirma share price fell 4.3% to BGN 1.11 by 15:08 local time on Friday in a falling market with the blue chip SOFIX index down 2% by the same time.
Source: investor.bg (27.06.2016)

Sofia bourse warns 15 listed cos over information disclosure Bulgarian Stock Exchange (BSE) has placed under supervision 15 local companies listed on the standard segment for a failure to satisfy criteria regarding to information disclosure, freefloat, and trading, among others. "The issuers [...] should not delay in information disclosure to the public, and in the event of default the listing of the respective issue of securities will be transferred to the BaSE Alternative Market of BSE-Sofia right away," BSE said on its website late on Friday. The list of companies that are under supervision for a period of three months includes Bulgartabac Holding [BUL:57B], Eurohold Bulgaria [BUL:4EH], Bulstrad Vienna Insurance Group [BUL:4BI], Petrol [BUL:5PET], Sirma Group Holding [BUL:SKK], and Sparky Eltos [BUL:SL9] among a total of 15. The mentioned companies are part of the the broader BGBX40 index, which tracks the 40 most traded shares. The main indices of the BSE closed in negative territory on Monday, with the blue chip SOFIX down 0.52% to 453.99 and the BGBX40 down 0.06% at 89.35.
Source: investor.bg (27.06.2016)

Bulgarian IT company Allterco gets green light from regulator for IPO Bulgaria's financial regulator said it has approved the initial public offering (IPO) prospectus of IT company Allterco, after returning it for revision in early June. The Financial Supervision Commission provided no details about the parameters of the planned IPO in its statement. Allterco did not immediately return a SeeNews request for further information. Allterco first filed the IPO prospectus with the country's financial regulator in March. Allterco, an IT company assisting mobile service providers in developing their products, has offices in Bulgaria, Romania, Macedonia, Serbia, Kosovo, Hungary, Germany, Singapore, Malaysia, and the U.S.
Source: investor.bg (12.07.2016)

Bulgarian IT company Allterco seeks to raise up to EUR 1.68 mln in IPO in mid-Sept Bulgarian IT company Allterco plans to raise 825,000 to BGN 3.3 million in an initial public offering (IPO) on the Bulgarian stock exchange in the middle of September. The company will offer investors 1.5 million shares with a nominal value of BGN 1 and an issue price in the BGN 1.1 - 2.2 per share range. The IPO will be considered successful if at least 750,000 shares are subscribed for. Following the IPO, Allterco plans a capital increase from by BGN 1.5 million to BGN 15 million. The IPO proceeds will be used mainly for the production, implementation and improvement of the company's projects for home control system SHE and for children's watches MyKi, as well as an R&D centre focused on Internet of Things. On Monday, Bulgaria's financial regulator said it approved the company's IPO prospectus after it had returned it for revision in early June. The company's core business is mobile payment services, mobile marketing, mobile content and portals and projects related to Internet of things. The group has operations in over 21 countries and has partnered with over 300 corporate clients. In Southeastern Europe, Allterco operates in Macedonia, Serbia and Romania.
Source: Capital (13.07.2016)

The Sirma Group Holding office opens in the US The Sirma Group Holding office opens in the US year after its release on the Stock Exchange, where the company gained BGN 11.55 million. The new office will contribute to group sales in the US. "We are not leaving the Bulgarian market," said CEO of the holding Tsvetan Alexiev. The company is shifting its commercial efforts from a market with an annual capacity of about USD 1 billion to a market with an annual volume of over USD 1 trillion. The IT market in the US has features that fully meet the specialization of Sirma’s companies - software development and IT services. The company includes Ontotext, Sirma Enterprise Systems, Eng vu and Sirma Solutions.
Source: Capital (13.10.2016)

Shares of Allterco are closer to trading on the stock exchange Allterco’s shares are closer to trade on the secondary stock exchange market. The start of this activity is expected in late November or early December. On Monday, the Financial Supervision Commission has entered the company’s shares in the public register. Allterco became the second technology company, which increased its capital through BSE - Sofia, after Sirma Group. Allterco raised BGN 2.18 million through initial public offering of 1.5 million of its shares in September and October. The issue price of all securities of the capital increase was recorded at BGN 1.45 per share. With this the company’s capital became BGN 15 million, divided into the same number of shares with a nominal value of BGN 1. The Allterco management’s ambition is for an increase in the total revenue share, which is planned to be up by 80% by 2020 and reach just over BGN 52 million. Its offices are in Sofia, Singapore, Kuala Lumpur, Las Vegas, Bucharest, Belgrade and Skopje.
Source: Capital (16.11.2016)

"Ontotext" updates software for data analysis Bulgarian company for semantic software Ontotext has released on the market an updated version of its database GraphDB. The software solution is used to manage data and create richer connections between them. Among the clients of the platform worldwide are media groups such as the BBC, Press Association, Euromoney and The Financial Times, scientific publishers such as The ???, corporations such as AstraZeneca and Raytheon, as well as institutions such as the National Archives of Britain and The British Museum. Ontotext is part of the group of Sirma Group Holding, which successfully completed its campaign for an IPO on the Bulgarian Stock Exchange. Last year the company had a turnover of BGN 8.6 million at a profit of BGN 148 thousand, which shows a fall on both indicators compared to the previous year. For 2014 the turnover was nearly BGN 9 million and profit – BGN 1.3 million.
Source: Capital (21.12.2016)