October 31 (SeeNews) - Bulgarian battery manufacturer Monbat [BUL:MONB] said that its consolidated pre-tax profit from ongoing operations fell by 42% year-on-year in the first nine months of 2022, to some 11.5 million levs ($5.84 million/5.87 million euro).
Consolidated net sales revenue went up 8.7% on the year to 281.8 million levs in the January-September period, 95% of which was generated by sales of products, the company said in a bourse filing on Thursday.
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Monbat’s consolidated earnings before interest, taxes, depreciation, and amortisation (EBITDA) dropped 26.1% to 26.55 million levs in the review period.
In the third quarter alone, Monbat's consolidated pre-tax profit from ongoing operations slipped by about 12% on the year to 3.58 million levs. Consolidated sales added 12.7% compared to the third quarter of 2021, to to 95.68 million levs.
Last month, Monbat announced a plan to buy back up to 1.17 million of its own shares, starting from September 26. The stock, which represents up to 3% of Monbat’s registered capital, will be acquired at a price of between 4.51 levs and 8.75 levs per share.
Monbat's shares closed at 4.98 levs on Friday, up 4.18%.
(1 euro = 1.95583 levs)