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VMZ is targeting 1 billion leva in sales for the year The state-owned arms manufacturer Vazovsky Machine-Building Works (VMZ) reports growing financial results for the first quarter of 2025. The orders it is to fulfill by the end of the year will allow the Sopot plant to reach a turnover of around 1 billion leva. Sales are likely to be similar for 2024, judging by the data for the first three quarters, but the final annual report has not yet been published. For 2023, the turnover was also a record - over 900 million leva. The company's revenues for the first quarter of 2025 increased by two-thirds compared to the same period last year and are approaching 300 million leva. The company almost doubled its profit by the end of March. The most sought-after are artillery ammunition and grenade launchers, which provide over 70% of revenues. The fulfillment of contracts and orders for another 700 million leva is expected by the end of the year. The number of employees in the company is also increasing, the average number of which in the first quarter of 2025 was 4,890 people according to the report (4,578 people a year earlier). As of February, 5,053 people were insured. Due to the increased demand for special products on the market, VMZ is working to increase its capacity, with the goal of introducing new technologies and production lines. The company continues to invest in new buildings and renovate existing ones, in the purchase of machinery, equipment and facilities. As of the end of March, assets worth 12.6 million leva were under construction or commissioning. The direct owner of VMZ is the State Consolidation Company (DKK). In March, changes were made to the board of directors of the military plant after the management of DKK was replaced. Ivan Getsov, a long-time employee of the company, remains the executive director.

 

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