November 27 (SeeNews) - Bulgarian car battery maker Monbat [BUL:5MB] said that its adjusted consolidated operating profit before taxes fell by 62.3% year-on-year to 8.1 million levs ($4.7 million/4.1 million euro) in the first ten months of 2018.
Monbat’s adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) declined by an annual 27.3% to 25.7 million levs in January-October, Monbat said in a statement.
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The company’s consolidated net sales revenue decreased 6.2% on the year to 246.2 million levs in the period under review.
In October alone, Monbat posted an adjusted operating pre-tax profit of 2.0 million levs, 41% lower on the year, after a 5.2% drop in net sales revenue, to 32.6 million levs.
Last month, Monbat said that it expects to end the year with revenue of 160.1 million euro and a gross profit of 37.1 million euro.
(1 euro = 1.95583 levs)