May 4 (SeeNews) - Bulgarian lead-acid and lithium-ion battery manufacturer Monbat [BUL:MONB] said on Thursday that the consolidated net sales revenue of companies making up the group increased 14.3% year-on-year in the first three months of 2023, reaching some 104.5 million levs ($59.1 million/53.4 million euro).
Sales of products comprised the bulk of the revenue, at 97.5 million levs, Monbat said in a stock exchange filing.
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The group's consolidated net profit went up by 4% on the year to 6.05 million levs. At the same time, consolidated operating earnings before interest, taxes, depreciation and amortisation (EBITDA) dropped by an annual 33.2% to roughly 8.3 million levs in the January-March period.
Earlier this week, Monbat said its first-quarter standalone net profit jumped by 60% on the year to 6.8 million levs. The company added it gave up on the planned disposal of its Germany-based battery cell unit Monbat Holding to Britishvolt, which had been unable to fulfil contract terms due to its insolvency. Monbat received an non-refundable net deposit of 2.83 million euro under the deal. The Bulgarian group added it continues to aim to divest Monbat Holding.
Monbat has over 15 subsidiaries engaged in manufacturing, trading and recycling. The group also owns carbon nanomaterials development unit A.R.T. Monbat and has controlling stakes in Tunisian Company of Batteries Nour and Italian battery recycling plant developer STC. As of end-March, Monbat's largest shareholder was Prista Oil Holding with a stake of 42.7%.
(1 euro = 1.95583 levs)