Bulgaria's Monbat 9-mo cons sales up 3% y/y

Sales of products, which make up the bulk of the revenue, amounted to some 265.8 million levs, Monbat said in a stock exchange filing.

The group's consolidated pre-tax profit inched up by 0.3% on the year to 9.9 million levs in the nine months through September. During the same time, consolidated normalised earnings before interest, taxes, depreciation and amortisation (EBITDA) from continuing operations added an annual 10.9% to roughly 29.5 million levs.

In the third quarter alone, Monbat's consolidated net sales revenue from continuing operations declined 2.4% year-on-year to some 93.5 million levs.

Between July and September, consolidated pre-tax profit from all group operations edged up 1.6% compared to the same time last year, reaching 4.2 million levs. Over the same period, consolidated normalised earnings before interest, taxes, depreciation and amortisation (EBITDA) from continuing operations jumped 27% on the year to 11.4 million levs.

Earlier this year, Monbat's planned disposal of Germany-based battery cell unit Monbat Holding to Britishvolt fell through due to the buyer collapsing into insolvency. Monbat has stated that it will continue to look into options to divest Monbat Holding.

As at 1115 CET, shares in Monbat traded flat at 4.24 levs on the Sofia bourse.

(1 euro = 1.95583 levs)