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Bulgaria's Monbat lowers Jan-Feb pre-tax profit from ongoing ops 54%

Author Mario Tanev
Bulgaria's Monbat lowers Jan-Feb pre-tax profit from ongoing ops 54% Author: Monbat / License: All rights reserved.

SOFIA (Bulgaria), March 26 (SeeNews) - Bulgarian battery maker Monbat [BUL:5MB] said on Thursday that its consolidated profit before taxes from ongoing operations dropped by 54.2% to 1.9 million levs ($1.1 million/1 million euro) in the first two months of the year.

The company's reported results exclude its LED lighting operations.

Monbat’s earnings before interest, taxes, depreciation and amortisation (EBITDA) decreased by an annual 27.6% to 5.1 million levs in the January-February period of 2020, the battery maker said in a statement.

The company’s consolidated net sales revenue fell 12.7% to 49.6 million levs in the first two months of the year.

In January alone, Monbat's consolidated profit before taxes from ongoing operations plunged 54.6% to 925,000 levs, as sales fell 15.8% to 23.9 million levs.

(1 euro = 1.95583 levs)

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