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Dec 27, 2017 12:34 EEST
December 27 (SeeNews) - Bulgarian car battery manufacturer Monbat [BUL:5MB] said its consolidated pre-tax profit rose by an annual 4.4% to 31.1 million levs ($18.9 million/15.9 million euro) in the first 11 months of 2017.
The company’s net sales revenue increased 27.9% year-on-year to 300.7 million levs in the period under review, Monbat said in a statement last week.
You can download the 2023 Automotive industry in Southeast Europe report here
Monbat’s earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by an annual 4.5% to 46.2 million levs in the period January-November.
In November alone, the consolidated pre-tax profit of Monbat decreased by 75.7% on the year to 1.239 million levs while net sales revenue grew 19.7% to 34.4 million levs. EBITDA fell 59.1% year-on-year to 2.709 million levs in November.
In September, Monbat said it plans to acquire Italian battery recycling company Piombifera Italiana through its subsidiary Monbat Recycling.
Monbat shares closed flat at 10.75 levs on the Bulgarian Stock Exchange (BSE) on Friday, the last trading day before a long Christmas holiday.
(1 euro = 1.95583 levs)
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