Neochim

What Neochim does

Neochim AD is a Bulgarian public joint-stock company (BSE-listed, ticker NEOH) founded in 1951 and headquartered in Dimitrovgrad, Bulgaria. The company operates an integrated nitrogen-chemistry complex producing mineral fertilizers — notably the NEOFERT branded ammonium nitrate and NPK compound fertilizers in 15:15:15, 15:10:15, and 20:10:10 grades — alongside industrial inorganic chemicals including nitric acid, anhydrous and aqueous ammonia, technical-grade nitrogen and oxygen, ammonium bicarbonate, and beverage-grade carbon dioxide. Production is anchored by a single Dimitrovgrad site with one of the largest natural gas consumption footprints in Bulgaria (2.4–3.6 TWh annually, capacity to 6.1 TWh), supporting a vertically integrated ammonia → nitric acid → ammonium nitrate → NPK value chain.

The business model is B2B sales-led, distributing through a dedicated sales department, an online ordering portal, and a wholly-owned Turkish subsidiary (Neochim LTD in Edirne) for regional market reach. Customer segments span agriculture (fertilizer end-use), mining and industrial users (ammonium nitrate for explosives, ammonia and nitric acid for downstream chemistry), and beverage producers (food-grade CO2). Revenue is generated from one-time product sales across the fertilizer and chemical portfolio, with an additional natural gas trading revenue stream enabled by a 10-year license (Л-560-15) granted in 2021. Pricing is not publicly disclosed.

FY2025 net profit was 4.39 million euro on undisclosed revenue, supporting a resumed dividend of approximately 5.17 million euro (2 euro per share) approved on 16 June 2026, following a net loss in FY2024. The company holds full EU REACH registration (completed 2010), ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certifications, and in 2025 secured non-repayable EU Just Transition Programme funding for a production investment project in the Stara Zagora region. Governance is structured as a two-tier board (Supervisory Board chaired by Dimcho Georgiev; Management Board chaired by Stefan Dimitrov), adopted in November 2023.

Name

Neochim

Legal name

Neochim AD

Website

https://neochim.bg

Company type

Public

Founded year

1951

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Neochim AD is a Bulgarian public chemical producer (BSE: NEOH), founded 1951, operating an integrated nitrogen-chemistry complex in Dimitrovgrad that manufactures mineral fertilizers (NEOFERT ammonium nitrate, NPK compounds) and industrial chemicals (ammonia, nitric acid, CO2) for agricultural, mining, industrial, and beverage customers in Bulgaria and Turkey.

Ownership category

akta.pro rank

Product category

Mineral Fertilizers & Industrial Chemicals

NAICS

Fertilizer and Compost Manufacturing (32531), Nitrogenous Fertilizer Manufacturing (325311), Pesticide, Fertilizer, and Other Agricultural Chemical Manufacturing (3253), Other Basic Inorganic Chemical Manufacturing (325180)

SIC

Agricultural Chemicals (2870), Industrial Inorganic Chemicals (2810), Chemicals & Allied Products (2800)

akta.pro primary industry

NPK & Compound/Blended Fertilizers (IMAEAEAD)

akta.pro secondary industries

NPK/Compound & Blended Fertilizers (Granular Blends, Bulk Blending) (AFABABAD), Fertilizer & Micronutrient Formulations (NPK blends, chelates, suspensions) (AFABAIAB), Water-Soluble Fertilizers (WSF) & Fully Soluble NPK Blends (AFABACAB), Micronutrient & Secondary-Nutrient Fertilizers (IMAEAEAE)

Keywords

• Mineral fertilizers
• NPK fertilizers
• Ammonium nitrate
• Industrial chemicals
• Ammonia production

Headquarters

HQ city

Dimitrovgrad

HQ country

Bulgaria

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D

Revenue model

1. Fertilizer Sales: Production and sale of mineral fertilizers including ammonium nitrate (Neofert brand), NPK fertilizers, and related products for agricultural sector
2. Chemical Products: Sale of industrial chemical products including nitric acid, ammonia, ammonium bicarbonate, liquid and gaseous nitrogen, oxygen, and other inorganic chemicals
3. Natural Gas Trading: Licensed natural gas trading activity. Company holds License № Л-560-15 from 28.09.2021 for 10 years for natural gas trading from the Energy and Water Regulatory Commission
4. Desalinated Water and Industrial Gases: Sale of desalinated water and industrial gases to other industrial users

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Neochim AD manufactures and sells mineral fertilizers (NPK compounds in 15:15:15, 15:10:15, and 20:10:10 formulations and branded ammonium nitrate NEOFERT) and industrial inorganic chemicals including nitric acid, anhydrous and aqueous ammonia, technical nitrogen (gaseous and liquid), oxygen, ammonium bicarbonate, beverage-grade carbon dioxide, and desalinated water. The company serves agricultural, mining, industrial, and beverage customers, with distribution via direct sales, online ordering, and its Turkish subsidiary Neochim LTD in Edirne.

Product overview

Neochim is a Bulgarian fertilizer and chemical producer offering a portfolio of mineral fertilizers (NPK compounds in various formulations including 15:15:15, 15:10:15, and 20:10:10) and industrial inorganic chemicals. The product line centers on nitrogen-based chemistry including ammonium nitrate products under the NEOFERT brand, nitric acid, anhydrous and aqueous ammonia, nitrogen gases, and oxygen. Supporting products include ammonium bicarbonate, carbon dioxide (beverage quality), and desalinated water. The company also produces water-soluble ammonium nitrate for liquid fertilizer applications. All fertilizer products comply with EU Regulation 2019/1009.

Differentiator

Problem solved

Functional benefit

Brands

• NEOФЕРТ: Ammonium nitrate fertilizer brand produced by Neochim AD

Products and services

• NEOFERT Ammonium Nitrate EC Fertilizer Branded ammonium nitrate fertilizer marketed under the NEOFERT trade name for agricultural use, complying with EU Regulation 2019/1009 for EC fertilizers.
• Ammonium Nitrate Water-Soluble EC Fertilizer Water-soluble ammonium nitrate fertilizer for agricultural applications requiring liquid fertilizer formulations.
• NPK 15:15:15 EC Fertilizer Balanced compound fertilizer with equal nitrogen, phosphorus, and potassium content (15:15:15) for general agricultural use, meeting EU Regulation 2019/1009.
• NPK 15:10:15 EC Fertilizer NPK compound fertilizer with reduced phosphorus relative to nitrogen and potassium (15:10:15) for specific crop nutrient requirements.
• NPK 20:10:10 EC Fertilizer NPK compound fertilizer with elevated nitrogen content (20:10:10) targeted at nitrogen-demanding crops.
• Technical-Grade Nitric Acid Technical-grade nitric acid for industrial applications and downstream chemical manufacturing.
• Anhydrous Ammonia Anhydrous ammonia for industrial use including fertilizer production and other chemical processes.
• Aqueous Ammonia Solution (Technical Grade) Technical-grade aqueous ammonia solution for industrial applications.
• Aqueous Ammonia Solution (Pure) High-purity aqueous ammonia solution for specialized industrial applications.
• Gaseous Nitrogen (Technical Grade) Technical-grade gaseous nitrogen for industrial applications.
• Liquid Nitrogen (Technical Grade) Technical-grade liquid nitrogen for industrial and commercial use.
• Gaseous Oxygen (Technical Grade) Technical-grade gaseous oxygen for industrial and medical applications.
• Ammonium Hydrogencarbonate without Anti-Caking Agent Raising agent/bicarbonate without anti-caking additive for food and industrial applications.
• Ammonium Hydrogencarbonate with Anti-Caking Agent Raising agent/bicarbonate with anti-caking additive for improved flow properties.
• Beverage-Grade Carbon Dioxide Food-grade carbon dioxide for use in the food and beverage industry.
• Desalinated Water Desalinated water produced as a co-product of the chemical manufacturing process, supplied for industrial uses.
• Natural Gas Trading Licensed trading of natural gas, leveraging Neochim's status as one of the largest natural gas consumers in Bulgaria (2.4 to 3.6 TWh per year, capacity up to 6.1 TWh annually).

Quantifiable outcome

• Successfully registered all chemical substances under EU REACH regulation
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered minor.

• Generali Insurance ADminorOthersInsurance consortium for corporate property insurance covering Neochim's assets and property. Insurance period from 01.04.2026 to 31.03.2027.
• UniCredit BulbankminorOthersPersonal banking services for Neochim employees offered through company partnership network.
• VSK NeochimminorOthersCredit organization offering loans to Neochim employees through the company's partner network.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Yara International: Global Norwegian nitrogen fertilizer leader and the benchmark European ammonium nitrate and NPK producer. Directly comparable product portfolio (nitrogen fertilizers, ammonia, nitric acid) and serves the same EU agricultural customer base, but at vastly greater scale and global reach.
• ICL Group: Israeli specialty fertilizers and mineral-based chemicals producer. Comparable in specialty fertilizer and water-soluble NPK offerings, particularly relevant as Neochim expands its specialty and water-soluble product lines.
• EuroChem Group: Swiss-headquartered global fertilizer producer with vertically integrated nitrogen, phosphate, and potash operations. Directly comparable NPK and ammonium nitrate product portfolio serving European and emerging-market agricultural customers.
• K+S AG: German potash and salt producer with growing specialty fertilizer focus. Comparable European base, agricultural customer base, and exposure to commodity fertilizer cycles.
• OCI Global: Dutch nitrogen and methanol producer with significant European nitrogen fertilizer capacity. Highly comparable in core nitrogen chemistry (ammonia, urea, ammonium nitrate) and exposure to European agricultural demand.
• CF Industries Holdings: Largest North American producer of nitrogen fertilizers (ammonia, urea, ammonium nitrate, UAN). Comparable as a pure-play nitrogen fertilizer and industrial chemicals manufacturer competing in global agricultural end-markets.
• Linde Gas: Global industrial gases major producing nitrogen, oxygen, and CO2. Comparable in Neochim's industrial gases and beverage-grade CO2 segments, which diversify earnings away from fertilizer cyclicality.
• Solvay: Belgian chemicals group with historic exposure to soda ash, peroxides, and specialty chemicals. Comparable European chemical manufacturer footprint and exposure to industrial chemical end-markets.

Direct peers

• Borealis: Austrian chemical company and prior investor in Neochim (per funding history). Highly comparable as a European producer of nitrogen-based fertilizers and industrial chemicals with overlapping product lines (ammonia, melamine, fertilizers).
• Agropolychim: Bulgarian NPK fertilizer producer located near Neochim, offering directly competing compound and water-soluble NPK products for the Bulgarian and regional agricultural markets.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/neochim

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Neochim