May 2 (SeeNews) - Bulgarian car battery manufacturer Monbat [BUL:5MB] said that its individual net profit soared 200.7% on the year to 3.3 million levs ($1.8 million/1.6 million euro) in the first quarter of 2019.
Monbat's individual net sales revenue grew by 31.2% year-on-year to 94.7 million levs in the period under review, the battery manufacturer said in an interim financial statement earlier this week.
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Monbat's earnings before interest, taxes, depreciation and amortisation (EBITDA) on an individual basis increased by an annual 52.8% to 5.3 million levs.
In the first quarter of 2019, Monbat generated 70.2 million levs in revenue from sales abroad and 24.4 million levs from sales on the domestic market, which represent 74.2% and 25.7% of the total net sales revenues, respectively.
France remained Monbat's major foreign market in the first quarter, with 9.19 million levs of sales revenue or 13.1% of the total individual export of the company, despite a significant decrease compared to the percentage of the same quarter of 2018 - 20.1%
Germany, Romania and UK are also among Monbat's major foreign markets.
(1 euro = 1.95583 levs)