April 29 (SeeNews) - Bulgarian battery manufacturer Monbat [BUL:5MB] said that its consolidated profit before taxes from ongoing operations has fallen by 58.1% year-on-year to 3.2 million levs ($1.8 million/1.6 million euro) in the first quarter of 2020.
Monbat’s earnings before interest, taxes, depreciation and amortisation (EBITDA) decreased by an annual 27.9% to 8.3 million levs in the January-March period, the company said in a statement on Tuesday.
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The figures exclude the results of business operations in the LED Lighting segment.
Consolidated net sales revenue fell 11.5% on the year to 73.2 million levs in the review period.
In March alone, Monbat's consolidated profit before taxes from ongoing operations plunged 62.9% to 1.3 million levs, as sales fell 9.1% to 23.5 million levs.
(1 euro = 1.95583 levs)