In February, 2020 the companies in the economic group of Monbat AD have generated consolidated net sales revenues from continuing operations in the amount of

Financial
March 25, 2020

Dear Investors,

In February, 2020 the companies in the economic group of Monbat AD have generated consolidated net sales revenues from continuing operations in the amount of BGN 23 882 thousand which represents a decrease of 15.8 % compared to the consolidated net sales revenues generated in February, 2019. 

The summarized data for the first two months of 2020 show that the companies in the economic group of Monbat AD have generated consolidated net sales revenues in the amount of BGN 49 624 000 which represents a decrease by 12.70 % compared to the consolidated net sales revenues for the same period of 2019.

 

The generated consolidated result from continuing operations (without the led lightning business segment) before taxes of the companies in the economic group of Monbat AD for February, 2020 is a profit of BGN 925 thousand, which represents a decrease of 54.6 % compared to the prior period of 2019.

The summarized data for the first two months of 2020 show that the companies in the economic group of Monbat AD have generated profit before taxes in the amount of BGN 1 884 000, which represents a decrease by 54.2 % compared to the generated consolidated profit before taxes for same period of 2019.

 

The consolidated EBITDA of the Group from continuing operations for the month of February 2020 stands at BGN 2 439 thousand which represents a decrease of 31.1 % to the comparative period of February 2019.

The summarized data for the first two months of 2020 show that the companies in the economic group of Monbat AD have reached EBITDA in the amount of BGN 5 119 000 which represents a decrease by 27.6 % compared to same period of 2019.

 

The consolidated EBITDA for the two months of 2020 is matching the Base Plan Target for 2020 showing a modest deviation of 1.2% (Base Plan EBITDA for the period ending February 2020 – BGN 5 181 000). The Base Plan consolidated EBITDA for 2020 is BGN 48 900 000 which represents and increases of 25.9% compared to the preliminary consolidated EBITDA numbers for 2019.

The lower results for the two months of 2020 in comparison to the same period of 2019 are due to lower demand in the European market which could partially be attributed to yearly cyclicality aspects and warmer weather. In 2019 the Group has diversified the geographical mix of the sales structure of starter lead acid batteries by focusing on markets in Africa and Middle East. Those markets are characterized by “high season” demand which starts in the second quarter of the year and therefore complements the decrease of the demand in the European market in the same period. The same sales strategy is valid for 2020.

contact for investors
Daniela Peeva
Investor Relations Director
tel. +359 2 988 2413
e-mail: investorrelations@monbat.com