site.btaVMZ Sopot Ordnance Factory Posts Record Large Revenue for 2023

The state-owned VMZ Sopot ordnance factory reported a record large net revenue of BGN 828 million for 2023, double that in 2022.

The factory is seeing increased demand for its products. There are plans to rev up capacity using new technologies and lines, with fixed asset expenditure exceeding BGN 20 million. VMZ Sopot manufactures Soviet-style ammunition, shells and missiles, which are bought by NATO countries. The factory's order books are full for the next two years.

Its revenue and profit are expected to grow in 2024 as well.

The workforce increased by nearly 500 employees to more than 4,100 in 2023. The factory is the region's largest employer and attracts many jobseekers.