Published in Scientific Papers. Series "Management, Economic Engineering in Agriculture and rural development", Vol. 25 ISSUE 3
Written by Petar Borisov BORISOV, Georgi Dimitrov PETKOV

Winemaking has long been one of Bulgaria’s leading agricultural sectors, generating billions of dollars annually in a highly competitive global market. The industry operates under conditions of intense competition, which significantly limits profitability. Effective integration into the value chain and cost optimization are key factors in enhancing financial performance. This research seeks to examine how the application of circular economy practices impacts the profitability of wine production. An essential part of the methodology involves classifying wine industry businesses according to the degree to which they have adopted circular economy strategies. This classification follows the Technology Readiness Levels (TRL) approach, which evaluates enterprises according to their technological preparedness for circular economy adoption. Based on the statistical analysis of key indicators such as investments, operating income, and net sales revenue, it is evident that level 4 enterprises exhibit the highest levels of investment activity and operating expenses. These enterprises also report the highest net sales revenue. It is clear that enterprises that have integrated technologies to close the production cycle through recycling and resource reuse demonstrate high efficiency in managing cash flows derived from investment activity.

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