November 26 (SeeNews) - Bulgarian battery manufacturer Monbat [BUL:5MB] said on Thursday that its consolidated pre-tax profit from ongoing operations fell 12.4% year-on-year to 12 million levs ($7.3 million/6.1 million euro) in the first ten months of 2020.
Monbat’s earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 3.1% year-on-year to 31.7 million levs in the January-October period of 2020, the company said in a statement.
You can download the 2023 Automotive industry in Southeast Europe report here
The reported results exclude Monbat's discontinued LED lighting operations.
The company’s consolidated net sales revenue fell 6.2% on the year to 251.4 million levs in the first ten months of 2020.
In October alone, Monbat's consolidated pre-tax profit from ongoing operations declined by 1.5% to some 2 million levs, influenced by a 9.6% drop in sales, to 33.12 million levs.
(1 euro = 1.95583 levs)