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Bulgaria's Monbat cuts adj cons operating profit 74.4% in 2018

Author Mario Tanev
Bulgaria's Monbat cuts adj cons operating profit 74.4% in 2018 Author: Monbat / License: All rights reserved.

SOFIA (Bulgaria), January 28 (SeeNews) - Bulgarian car battery maker Monbat [BUL:5MB] said that its adjusted consolidated operating profit fell by 74.4% year-on-year to 5.8 million levs ($3.4 million/3 million euro) in 2018.

Monbat’s adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) declined by an annual 30.2% to 27.7 million levs in 2018, Monbat said in a statement on Friday.

The company’s consolidated net sales revenue decreased 5.5% to 301.6 million levs last year.

In December alone, Monbat posted an adjusted operating loss of 1.5 million levs after a 4.9% drop in net sales revenue, to 23.6 million levs.

(1 euro = 1.95583 levs)

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