Speaker
Description
Abstract – The purpose of this study was to examine how the implementation of Industry 5.0 principles influenced the financial performance, economic indicators and innovation activity of Bulgarian industrial enterprises in 2021-2025. The methodology combined theoretical generalization of the Industry 5.0 concept, analysis of accounting approaches to innovation costs, and empirical examination of the financial statements of Sopharma AD and Monbat AD using horizontal, trend and ratio analysis. The results showed that Sopharma AD’s revenue increased from BGN 1,603,484 in 2021 to BGN 2,120,898 in 2024, while assets rose from BGN 1,509,892 in 2023 to BGN 1,800,184 in 2024 and BGN 1,974,992 in the first half of 2025. Net profit grew to BGN 99,077 in 2023, and then declined to BGN 82,395 in 2024, with return on assets at 5.0%. Capital expenditures increased from BGN 43.5 million in 2021 to BGN 233.962 million in 2024, including 68 marketing authorizations in 10 countries and 27 new medicinal products. In the first half of 2025, operating profit rose by 44.0%, earnings before interest, taxes, depreciation and amortization by 36.5%, and net profit by 55.7%. For Monbat AD, net profit fluctuated from BGN 18,948 in 2021 to BGN 7,637 in 2022, increased to BGN 21,340 in 2023, declined to BGN 12,006 in 2024, and reached a loss of BGN -2,682 in 9 months of 2025. Practical significance lies in demonstrating that intensive innovation, although temporarily reducing profitability, creates conditions for higher operational efficiency and resource stability, supporting managerial and investment decision-making.
Keywords – digital transformation; production systems; automation; artificial intelligence; technological modernization.