The Daily Brief

News highlights with your first cup of coffee

Fill in your details

Get the highlights from Southeast Europe with your morning coffee


You have now subscribed to our daily newsletter

Stay tuned. You will receive your first message tomorrow.

Bulgaria's MonBat Jan-Nov cons pre-tax profit rises as sales increase

Bulgaria's MonBat Jan-Nov cons pre-tax profit rises as sales increase wavebreakmedia/Shutterstock.com

SOFIA (Bulgaria), December 23 (SeeNews) - Bulgarian car battery maker MonBat [BUL:5MB] said on Friday its January-November consolidated pre-tax profit grew by 22.4% year-on-year, reaching 29.8 million levs ($15.9 million/15.2 million euro).

MonBat's consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 20.2% on the year to 44.2 million levs in the first eleven months of 2016, the company said in a statement.

Consolidated net sales revenues increased by 4.7% year-on-year, reaching 235 million levs in January-November.

In November alone, the company's pre-tax profit rose by an annual 47.2%, reaching 5.1 million levs. EBITDA jumped 46% to 6.6 million levs.

November net sales revenue increased 20% year-on-year to 28.8 million levs.

MonBat's shares did not trade on Friday as of 13:50 CET. They closed at 9.522 levs on the Bulgarian Stock Exchange (BSE) on Thursday, down 1.73% from the previous close.

MonBat operates four plants for manufacturing and recycling of lead-acid batteries, diodes and light-emitting diode luminaires.

(1 euro=1.95583 levs)


5/5 articles left. Get more for free...