May 30 (SeeNews) - Bulgarian car battery manufacturer Monbat [BUL:5MB] said on Thursday its consolidated net profit soared to 6.5 million levs ($3.6 million/3.3 million euro) in the first quarter, from 1.6 million levs in the same period of 2018.
Monbat's consolidated net sales revenue increased by 26.01% on the year to 82.7 million levs in the first three months of 2019, the company said in a statement.
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Monbat's earnings before interest, taxes, depreciation and amortisation (EBITDA) on an individual basis almost doubled, increasing by an annual 93.05% to 12.1 million levs.
In January-March, Monbat generated 36.9 million euro in revenue from sales abroad and 10.4 million euro from sales on the domestic market, which represent 87.3% and 12.6% of the total net sales revenue, respectively.
France remained Monbat's major foreign market in the first quarter, with 4.7 million euro of sales revenue or 12.7% of the company's total exports.
Monbat's consolidated net profit shrank to 2.8 million levs last year from 31.2 million levs in 2017 due to a drop in revenue by 9.5% to 298.1 million levs.
As at 18:00 CET on Thursday Monbat shares traded 0.74% lower at 6.70 levs on the stock exchange in Sofia.
(1 euro = 1.95583 levs)