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    ZAHARNI ZAVODI won two awards in My Love Marks contest

    ZAHARNI ZAVODI won two awards in the contest for a favorite brand My Love Marks. Lukcheta won first place in the category Candies and chocolates and Limonovi rezanki was ranked second in the same category. The awards were presented on July 11, 2014 at the Hotel Balkan, Sofia.

    "We are pleased that after 60 years on the Bulgarian market, the brand Lukcheta is chosen to be a favorite brand. We at ZAHARNI ZAVODI believe the Lukcheta is not just a favorite brand, it is a favorite brand of generations of Bulgarians" said upon receiving the award, Mr. Krasimir Dobrev, Chief Commercial Officer of ZAHARNI ZAVODI.

    Lukcheta is a brand legend, which has been produced in Bulgaria since 1953.  Lukcheta is the best-selling hard-candy brand in Bulgaria for 2013 according to Nielsen Bulgaria. The brand's market share is 41%.

    Lukcheta’s packaging was redesigned in 2013. The brand is positioned as a useful product. The brand portfolio includes candies with natural herbal fragrances and oils, Honey flavor, Eucalyptus and Classic.

    Attached documents:

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    ZAHARNI ZAVODI received an award for fastest growing company in Bulgaria

    ZAHARNI ZAVODI received an award for fastest growing company in Bulgaria for 2013. The prize was handed over to Mrs Valentina Raleva, Chief Executive Officer of the Company on July 2, 2014.

    "We are proud to receive such a prestigious award. For us it is another recognition that despite the adverse macroeconomic conditions in 2013 ZAHARNI ZAVODI successfully manages its businesses" said Mrs. Raleva.

    ZAHARNI ZAVODI is ranked third place in the prestigious Capital Top100 ranking and it is the only food manufacturer in top5 of the ranking. ZAHARNI ZAVODI received the award for the reported 139% growth in sales revenue in 2013.
    The Growth was achieved primarily due to sales of sugar. In 2013 ZAHARNI ZAVODI realized 17% growth in sugar sales in kind. The turnover from sugar sales amounted to 103 million BGN.


    Sales in ethanol division retain their levels. ZAHARNI ZAVODI reported both a 17% increase in domestic sales and a minimal decrease in export sales. At the same time, the company managed to attract a significant volume of new customers on foreign markets as a result of its policy for enlarging customer portfolio and entering new markets outside the EU. The new customers generate 29% of total export of ethanol.

    ZAHARNI ZAVODI reported 22.2 million BGN confectionery sales turnover and realized a 3% increase in sales in kind in 2013. The Company preserves its traditionally strong position on the Bulgarian market. The realized growth is due to gaining new export customers. The main customers are companies from Romania, the Netherlands, Russia, Greece and Croatia. Sales to new German partners are reported as well.

    Printing and packaging division realized sales of 4.4 million BGN and reported positive financial result in 2013 due to two factors - optimizing production costs and attracting new customers.

    ZAHARNNI ZAVODI’s EBITDA in 2013 on a consolidated basis is 4.3 million BGN.

    Attached documents:

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    ZAHARNI ZAVODI received an award for contribution to the humanization of the working environment, health and safety of the people.

    Plamen Dimitrov the President of KNSB - one of the biggest trade unions in Bulgaria   awarded ZAHARNI ZAVODI with "Prometheus" prize for the company’s contribution to the humanization of the working environment, health and safety of the people. The award was presented on April 28 2014 – The World Day for Safety and Health at Work.

     “We are aware that the improvement of working environment and employees’ qualification is one of the key factors for staff motivation and company development. We are pleased that this recognition comes from KNSB precisely - an organization, whose main priority is improving working conditions. ZAHARNI ZAVODI has traditions in social partnership - the first collective agreement between the company and its employees was signed on September 22, 1919 "- said upon receiving the award, Mrs Valentina Raleva - CEO of ZAHARNI ZAVODI. The ceremony was attended by Mr. Mihail Ivanov - Chairman of the trade union of KNSB in ZAHARNI ZAVODI.

    ZAHARNI ZAVODI is one of the major employers in Gorna Oryahovitsa. The company has realized 15 projects related to working conditions improvement for the period 2010 -2014. The projects amounted over 1, 335 million BGN. The projects are co-financed - with company's own resources and with funds from the operational programs of the EU and national funds. Some of the projects are:

    - Construction of new sanitary facilities, central heating and ventilation system for the workplaces in the packing area "Sugar";

    - Construction of dining hall and recreation area, implementation of a complete overhaul of the bathrooms in Printing house;

    - A project for working conditions improvement in the manufacturing sector, modernization of the working environment, reduction of the hard labour, optimal temperature regimes adjustment, reduction of the morbidity and staff turnover in Confectionery factory;

    - Installation of electrostatic precipitator and replacement of the kindling fuel in Thermal Power Plant;

    - Provision of free transportation to work of employees who live outside Gorna Oryahovitsa;

    -  Trainings with main purpose productivity increase;

    ZAHARNI ZAVODI has nearly 800 employees. For the year of 2013 ZAHARNI ZAVODI has spent 7.9 million BGN on social costs such as for wages, taxes and social insurance, supplementary health insurance and meal vouchers.

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    ZAHARNI ZAVODI implemented a project worth 355 thousand BGN

    ZAHARNI ZAVODI implemented a project "For better working conditions" worth 355 thousand BGN. The purpose of the project is microclimate and hygiene conditions improvement at the premises of the confectionery factory of the company.

     "The implementation of this project is further evidence that our company is socially responsible employer, which exercises care towards its employees" - said Valentina Raleva CEO of ZAHARNI ZAVODI.

    The project is funded by the Fund "Working Conditions". The resources provided by the Fund are valued at 100 thousand BGN and 255 thousand BGN are ZAHARNI ZAVODI 's own resources. The improvements planned are in the premises for hard candies production.  A new air conditioning system will be purchased and installed. As a result, the overall working environment for 53 employees will improved by improving the temperature regime in the premises for year-round base.

    The improvements planned are part of a larger-scale project for reconstruction and renovation of the whole confectionery factory.

    ZAHARNI ZAVODI  is the market leader AT hard, soft candy and Turkish Delight in Bulgaria. The company has established market positions at the market of halva and waffles. Its market share at the market for hard candies in 2013, according to Nielsen Bulgaria, was 61%.

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    Minister Dragomir Stoynev visited ZAHARNI ZAVODI on the occasion of 100 years of sugar production

    The leading sugar producer in Bulgaria ZAHARNI ZAVODI celebrated 100 years sugar production. On the anniversary the Bulgarian Minister of Economy and Energy - Dragomir Stoynev visited the company in Gorna Oryahovitsa. The Minister got introduced with the production process, the plant capacity and the contribution of ZAHARNI ZAVODI to the development of the economy in the region.

     ZAHARNI ZAVODI is the oldest operating sugar producer in Bulgaria. The company has produced 30% of the total sugar produced in Bulgaria for the last 100 years. ZAHARNI ZAVODI is the only Bulgarian producer of sugar, which directly packages and sells the produced sugar under its own brand.

     "The sugar produced in Gorna Oryahovitsa is a benchmark for quality. We constantly invest and improve the technological process. ZAHARNI ZAVODI is the only sugar producer in Bulgaria with IFS certificate for production and sale of sugar. This standard ensures safety and traceability throughout the whole chain - from production to delivery." said Georgi Uzunov, Chairman of the Supervisory Board of Zaharni zavodi PLC.

     "For every minister it is an honor to attend such an event, the 100th anniversary of the start of a production. There are few companies in Bulgaria, and few companies in Europe that can be proud of such a long life and for me it is really an honor to be here with you today" noted Minister Stoynev. The minister gave an honorary diploma to the company. He added: "To improve the business climate, businesses need to feel that the government is their partner. It is vital for businesses to feel the support of the Government in the fight against the informal sector. "

    ZAHARNI ZAVODI’s sales revenue of sugar in 2013 were 89 million BGN, and its market share last year was 28%. In 2013 ZAHARNI ZAVODI expanded foreign markets to which it sells sugar. To traditional customers from Greece and Romania, new customers from Italy have been gained.

     ZAHARNI ZAVODI was established in 1912. It is a private company of holding type registered on the Sofia Stock Exchange. The company's assets at 31/12/2013 amounted to 100.08 million BGN. The investments made during the last 10 years are over 85 million BGN. The company's portfolio includes production of sugar, confectionery, ethyl alcohol, ddgs, packaging, performing repair and mechanical services, own energy.




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    ZAHARNI ZAVODI reports 9,8 million BGN EBIT for 2012

    ZAHARNI ZAVODI reports 9, 8 million BGN EBIT for the year of 2012.

    The consolidated net sales revenues of the group amount to 147 million BGN.

     “We worked hard on strengthening our existing market positions as well as on entering new markets during the past year. We made investments in human resources by improving working conditions and raising remuneration.” said Valentina Raleva – CEO of ZAHARNI ZAVODI.

    The core business of the group remains production and trade of sugar. The only Bulgarian IFS-standard-certified sugar producer reports sales incomes of over 100 million BGN. Due to the consistent quality of the sugar sold and the image of reliable partner, in 2012 the company managed to gain new clients.

    In 2012, the company reports record sales of ethanol in liters - the highest level since the foundation of the ethyl alcohol distillery in 1923. The ethanol sales revenues are over 20 million BGN. In 2012 the company managed to strengthen its export orientation in ethyl alcohol sales and furthermore expanded its market position in Israel, Romania, Italy, Spain, Turkey and Cyprus by gaining new clients. The newest division of the company – DDGS, reports sales increase of over 120% as well.

    There is a positive trend in the confectionery division as well. The sales revenues increased in 2012, reaching 19 million BGN. Hard candies group has the largest share in sales. 10% growth is reported in hard candies and Turkish delight groups. The Classic Turkish Delights with roses and with a rose-picker are market leaders in Bulgaria.

    Repair and mechanical services division and energy division report profit. The result in printing and packaging division is under the expected one.

    The work on EU Operational programmes was important for ZAHARNI ZAVODI in 2012. The company disbursed funds from the following programmes "New Beginning," "Social Innovation", as well as from "Working Conditions" fund.


  • Consolidated financial report for the second quarter of 2012

  • Separate financial report for the second quarter of 2012

  • General meeting 21.09.2012

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    Zaharni zavodi celebrated its 100th birthday



    ZAHARNI ZAVODI  celebrated 100 years since its founding with afine celebration on August 18, 2012. On this day 100 years ago the company was founded in Sofia under the name "Bulgarian-Czech joint stock company for sugar industry."

    The anniversary event was held under the motto "100 years we make life sweeter" and took place at the private stadium of the company. Over 1,000 guests - current and former employees gathered together to celebrate the centenary of one of the biggest Bulgarian companies.

    Official speeches, lots of prizes, music, specially selected meals and refreshments delighted the guests.

    "Only unremitting perseverance and desire to succeed can turn a company into a centenarian," said Valentina Raleva, Chairman of the Management Board and CEO of ZAHARNI ZAVODI. "Today, we are the ones who build the history of the company for the next 100 years," said Valentina Raleva.

    "There are not many Bulgarian companies to celebrate such an anniversary. One hundred years is a long time. Period of turbulent change, geopolitical conflicts, natural disasters and radical changes in the social and political life. All this is part of the history of our company. Having survived two regional and two world wars, severe economic crises, national disaster, natural disasters, nationalization, various forms of governmental and economic management, ZAHARNI ZAVODI continues to work and follows the dream of its founder - to make life sweeter", said Georgi Uzunov - Chairman of the Supervisory Board of the ZAHARNI ZAVODI.

    The host of the event Dimitar Rachkov reincarnated into some of his most famous TV characters and entertained the guests. With the message "The birthday guy treats" the members of the Management Board of the company - Krasimir Dobrev and Rumen Dankov, gave digital photo frames, cameras and holiday vouchers to the winners in the internal competition organized by the company for the most impressive memories, related to the company and its products. LCD TV and other attractive prizes were drawn at a special lotteryand all employees were donated with tickets for the upcoming performance of "Komitsite" in Gorna Oryahovitsa.

    The awards were far from being the only surprise because the young talents from Gorna Oryahovitsa - Stelian Hristova and Bogomil Bonev sang at the party. The surprise of the evening was the two-hour performance of the star Ivana. The singer delighted the guests performing graceful Bulgarian national dances as well as her greatest hits. Under the sounds of the popular song Happy Birthday, members of the Management Board cut the 40 kg. anniversary cake with the logo "ZAHARNI ZAVODI, then the climax of the evening happened - an impressive fireworks.

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    "Zahar" JSC implemented a project worth 344 thousand BGN


    "Zahar" JSC, subsidiary of "Zaharni zavodi" PLC, implemented a project "For better working conditions" worth 344,340 BGN.

     "The implementation of this project is further evidence that our company is socially responsible employer,which exercises care towards its employees" - said Konstantin Strashilova CEO of "Zahar"JSC.

    The project is funded by the Fund "Working Conditions". The resources provided by the Fund are valued at 100 thousand BGN and 244 thousand BGN are "Zahar" 's own resources. The implementation period of the project is four months - from 10.04.2012 until 10.08.2012.

    Improvements were made in the facilities for packaging, warehouse and manufacturing facilities in "Zahar"JSC.

     As a result of the project the bathrooms, cloakrooms and the rest rooms in the sugar warehouse were renovated. A new indoor ventilation system for the packaging unit  and  for rest rooms was built.

    Improvements were made in the production premises as well. A heating system was built there.

     "Zahar" JSC is a subsidiary of "Zaharni zavodi" PLC. It is the only sugar producer in Bulgaria with IFS certificate for manufacturing, sale and distribution of sugar. The sales revenues  of the company in 2011 were 101 million BGN.

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    "Zaharni zavodi" PLC signed the first charter for corporate social responsibility in the food industry sector in Bulgaria

    Bulgaria's first charter for corporate social responsibility in the food industry sector was signed today between the management of "Zaharni zavodi" PLC and the representative of CITUB in the company. The signing ceremony was attended by President of the CITUB Plamen Dimitrov and the chairman of the Federation of independent trade unions in the food industry  Slavcho Petrov. Earlier during the day the guests made ​​a tour in the company.

    The document was signed by Valentina Raleva - CEO of Zahani Zavodi and Mihail Ivanov - Chairman of the Trade Union Confederation in the "Zaharni zavodi" PLC. The charter guarantees fundamental priorities that put our company in terms of social responsibility, environmental protection, improving the working conditions, ensuring safe working conditions, safety and high quality of the products, energy efficiency and commitments,which the trade union organization takes in this connection. This document is the latest evidence of good partnership between "Zaharni zavodi" PLC and CITUB.

    "Currently, the average salary in the company is 650 BGN. We have planned 15 percent increase in income in 2012. Until June 2012, we have reached 13% average increase" said Valentina Raleva, CEO of "Zaharni zavodi" PLC. "We work on EU programs. Currently we are finalizing a project "For better working conditions" in "Zahar" JSC"  totaling 344 thousand BGN and we are about to run a new project: "Social innovation in "Zaharni zavodi" PLC - successful investment in human resources " for 138 thousand BGN" added Valentina Raleva.

    Currently 800 people are employed in the company.  From 01.09.2012 onwards "Zaharni zavodi"  will provide an additional health insurance for each employee. The insurance is part of the package of social benefits which the company provides to its employees.

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    "Zaharni zavodi" celebrates its 100th anniversary with the first of this kind art project

    Unusual art project will promote the 100th anniversary of the "Zaharni zavodi" PLC. In September, the company that makes life sweeter for 100 years, will open an exhibition inspired by the favorite sweets of Bulgaria. The project aims to recreate the sweet memories of the Bulgarians in beautiful paintings and art installations.

    "For 100 years our company creates sweet moments in the every-day life of all Bulgarians," said Mrs. Valentina Raleva, Chairman of the Board and CEO of "Zaharni zavodi" PLC. "The confectionery that we produce are in our childhood memories. Our kids love them too, so we decided to create a platform where everyone has the opportunity to share their personal story with our products. We believe that this project will not only sweet, but also useful. Collected on a specially constructed website, the memories of the Bulgarians may have historical significance as well, "added Mrs. Raleva.

    The exhibition will be created by artists, who will draw inspiration and themes from the golden fund of memories that Bulgarians will share at the site www.sladki-spomeni.com. There for three months, everyone will be able to describe with a text, a photo or a video their special story with the favorite confectionery of generations of Bulgarian people "Caramel Mu", "Limonovi rezanki", "Chaika" wafer and others.

    One of the first people to share a story with the products of "Zaharni zavodi" is the  famous actress and TV presenter Martina Vachkova. "Sweet memories of my childhood relate to the smell of freshly cut grass. I remember even the sound of the river that ran along the yard of my grandfather and his mill. I remember the song of crickets. I remember the fireflies in the dark. And I remember the sweetest, beloved "Lukche" Iused to get as a reward from my grandfather Stoyan. Award that I was obedient and I have helped. All these memories are sweet,  as sweet as the memory of "Lukchetata", said Marta.

    Attached documents:

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    Zaharni zavodi ended the year of 2011 at net profit of 7.6 million BGN

    "Zaharni zavodi” ended the financial year of 2011 at consolidated net profit of 7.6 million BGN. The result is in line with development targets of the company.

     "We can report a very successful year. Each of our subsidiaries ends at profit, we do not have a subsidiary at loss." announced the Chief Executive Officer "Zaharni zavodi" AD Valentina Raleva .

    The sales revenue of the company is 149.8 million BGN. There is 46% increase in the sales in comparison with 2010.

    The core business of the group remains the production and sales of sugar. It generates 70% of total profit of the group. The sales revenue of sugar are 101 million BGN in 2011. There is 49% growth in comparison with 2010.

    The core business of the group remains the production and sales of sugar. It generates 70% of total profit of the group. The sales revenue of sugar are 101 million BGN in 2011. There is 49% growth in comparison with 2010.

    Ethyl alcohol sales mark the highest growth rate- 65%. The most modern unit of the group – the distillery, generated 9 million BGN higher sales revenue. 85% of sales are made on foreign markets - mainly EU countries: Italy, Austria, Germany, Greece and Romania as well as Russia and Moldova. The excellent results in this segment are due to the expansion of customer lists and the commodity trade. The unit processed 8000 tons of wheat, 8500 tons of  corn and 31 000 tons of molasses for production needs.

    The confectionery sales also mark growth. The total confectionery sales revenue in 2011 is 18.2 million BGN, the exports grows by 70%. Diversification of portfolio in various price classes and product groups was carried out in 2011. New products were launched - natural candies "NATURE LINE" and luxurious Turkish delight “Orbis” with roses. The product line "NATURE LINE" won an award for “Innovative product of 2011” at the third national contest "Innovation in the Food Industry - Products and Technology“. The contest was organized by the Union for the food industry.

  • Separate financial reports for the first quarter of 2012

  • Consolidated financial reports for the first quarter of 2012

    Attached documents:

  • General meeting 29.06.2012

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    Zaharni zavodi was certified for production and distribution of sugar according to IFS standard

    Zaharni zavodi was certified for production and distribution of sugar according to IFS standard.

    At the end on March 2012 the subsidiary of Zaharni zavodi, Zahar EAD, the company which manages the sugar business of the group, successfully passed certification audits on implementation of the international standards - IFS and ISO22000.

    The certification audit was performed by ISACERT - the international auditing and certification organization.

    IFS standard is internationally recognized by major retail chains, as a standard for food production under private labels. The standard builds on the principles of HACCP and ensures safety and traceability throughout the food chain - from production to delivery. The scope of the certificate is the production, sale, storage and distribution of sugar.

    "We are delighted that "SUGAR" JSC is the only sugar producer in Bulgaria, who has such certificate." said Krasimir Dobrev, Chief Commercial Officer of the group and member of the Board of directors of "SUGAR" EAD.

    "This is an important step for our company. Covering the demanding standards is a guarantee that plants in our group offer high quality products and world-class security to the customers." said Valentina Raleva - Chief Executive Officer of the group " Zaharni zavodi" and Chairman of the Management Board.


  • Consolidated financial report for 2009

  • Separate financial reports for 2009

  • Consolidated financial report for 2010

  • Separate financial reports for 2010

  • Consolidated financial report for 2011

    Attached documents:

  • Separate financial reports for 2011

    Attached documents:

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    ZAHARNI ZAVODI turned 99 years

    On 24 August 2011 the management team of Zaharni Zavodi gathered to celebrate 99 years since the company’s foundation.

    “We have gathered to remind us who we are and thus motivate ourselves for even better performance in future”, said the Executive director of the company, Mrs. Valentina Raleva.
    The Chairman of the Supervisory board, Eng. Georgi Uzunov, added that the current management team is a proud successor of the company’s founders.

    For the first six months of 2011, “Zaharni Zavodi” group reports 4,6 million levs profit. 

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    ZAHARNI ZAVODI reports profit for the first quarter of 2011

    "Zaharni Zavodi" AD - Gorna Oryahovitsa reported 502 000 BGN profit for the first quarter of 2011, compared to 593 000 BGN loss for the same quarter last year. The results of subsidiaries Zahar EAD, Thermal Power Plant Gorna Oryahovitsa EAD, Zahar Trade OOD and Ethanol Bio OOD are not included in the report.

    Sales for this period have almost doubled compared to the previous year, reaching 14,02 million levs for 2011 (7,5 million levs for 2010). 

    The operating expenses for the same period have increased by 67%, mainly as a result of the raised expenses for materials and external services. 

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    ZAHARNI ZAVODI won an energy efficiency project award from the European bank for reconstruction and development (EBRD)

    A project of the Thermal Power Plant of Zaharni Zavodi AD was awarded by the European bank for reconstruction and development (EBRD) in “Energy efficiency” section, as project with best economic indicators on a special ceremony, organised by the bank at the end of November 2010. The project, amounting to 425 000 EUR, was aimed at switching of the start-up fuel of the plant from heavy fuel oil to natural gas. As a result the air-polluting emissions of the Power plant were reduced by approximately 9000 tonnes of carbon emissions.

    That was another important step our company did in implementing its program for improving the ecological footprint of its Power plant. At the beginning of 2009 4,8 million levs were invested for installation of electrostatic precipitator that reduced the flue gas dust particle emission from the chimney of the power plant by 99,8%. The electrostatic precipitator is fully equipped with control and measuring devices, which ensure safe and reliable technological process by controlling the dust level in the hoppers, the voltage of corona electrodes and the dust particle levels in the exhaust flue gasses. 

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    POSTBANK becomes market-maker of Zaharni Zavodi at up to 15% spread.

    Post bank  (Eurobank EFG Bulgaria) has become market-maker for Zaharni Zavodi shares issue at max. spread of 15%. The contract for market-making services came into force on 9 September 2010, with one year duration, while the minimal value of sells or buys quotations at the moment of issue will be 500 levs. Thus Postbank becomes a second position market-maker, after operating also with the ordinary shares of another Bulgarian company – Enemona AD.

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    ZAHARNI ZAVODI sales dropped during the second quarter of 2010

    by 12% on annual basis to 21,6 million levs, according to the consolidated financial report of the company. The net profit for that quarter drops by 80% on annual basis to 180 000 levs.   

    During the first quarter of 2010 the sales of Zaharni Zavodi have increased by 9,2% on annual basis, reaching 19,9 million levs, but nevertheless a loss of 1,74 million levs was reported, compared to  519 000 levs profit an year earlier.

    Revenues from sales for the half-year period drop by 3,1% on annual basis to 41,5 million levs, while the losses amount to 1,56 million levs, compared to a 1,4 million profit reported for the same period of 2009. 

    Last year the company reported a 7,6% decline in the sales, down to 81,3 million levs and 83% drop of the profit, down to 424 000 levs.

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    ZAHARNI ZAVODI started production of dry high-protein feed (DDG)

    Zaharni Zavodi AD invested in a large-scale project for production of hi-tech animal feed from dried distillers grains, obtained from stillage (residual product of ethyl alcohol production). This project finalized the third stage of the Ethyl alcohol plant reconstruction. Installation capacity is 40 tonnes of protein rich dry feed, necessary for production of combined feed. This product also replaces the animal feed additives, already forbidden in the EU. On the other hand the installation resolved a long-standing ecological issue of keeping Yantra river clean. The total investments in our Ethyl alcohol distillation plant amounted to 30 million levs, of which 16,5 million were allocated for finding solutions to ecological and environmental problems.

    By the end of 2010 we expect to finalize the registration of our ethyl alcohol product at the European Chemicals Agency (ECHA), which is responsible for Registration, Evaluation, Authorization and Restriction of Chemicals and coordination of the relevant practices across the EU. This registration procedure is required by the REACH Regulation and its purpose is to provide additional information on produced chemicals and assure their safe use, while protecting the competitiveness of the European industry.

    Currently our ethyl alcohol distillation plant is among the most modern installations for production of ethyl alcohol from grain and molasses in the country.