October 2019, Monthly Results

Financial
November 25, 2019

Dear Investors,

In October, 2019 the companies in the economic group of Monbat AD have generated consolidated net sales revenues in the amount of BGN 38 943 thousand which represents an increase of 19.40 % compared to the consolidated net sales revenues generated in October, 2018. 

The summarized data for the first ten months of 2019 show that the companies in the economic group of Monbat AD have generated consolidated net sales revenues in the amount of BGN 276 693 thousand which represents an increase of 12.40 % compared to the consolidated net sales revenues for the same period of 2018.

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 October, 2019 is BGN 1 988 thousand, which represents a decrease of 0.30 % compared to the prior period.

The summarized data for the first ten months of 2019 show that the companies in the economic group of Monbat AD have generated profit from continuing operations before taxes in the amount of BGN 14 191 thousand, which represents an increase of 134,50 % compared to the generated consolidated profit from continuing operations before taxes for same period of 2018.

The summarized data for the first ten months of 2019 show that the companies in the economic group of Monbat AD have generated profit from continuing and discontinued operations before taxes in the amount of BGN 16 405 thousand, which represents an increase of 163,40 % compared to the generated consolidated profit before taxes for same period of 2018.

The consolidated EBITDA of the Group from continuing operations for the month of October 2019 stands at BGN 3 691 thousand which represents an increase of 5.80 % to the comparative period.

The consolidated EBITDA from continuing operations (without the led lightning business segment) of the Group for the first ten months of 2019 stands at BGN 31 173 thousand which represents an increase of 42.10 % compared to same period of 2018.

 

NOTE:

1) EBITDA and consolidated profit for the comparable period January - October 2018 is decreased by BGN 577 thousand. The effect represents accrued revenue for expected state subsidy for the recycling of scrap batteries on the territory of the Republic of Serbia for the first ten months of 2018, which revenue was subsequently reversed at the end of 2018 due to a change of accounting policy applied for reporting state subsidies for recycling of scrap batteries.

2) EBITDA and consolidated profit for the comparable period January - October 2018 is decreased by BGN 245 thousand. The effect represents a correction in respect materials used during the reporting period but recorded in the subsequent period in Monbat Recycling Romania.

3) EBITDA and consolidated profit for the comparable period January - October 2018 is decreased by BGN 504 thousand. The effect represents expenses in connection with the terminated transaction for the acquisition of a controlling interest in the ASSAD Group in Tunisia, which were initially capitalized to be included as part of the value of the expected acquisition cost.

4) EBITDA and consolidated profit for the comparable period January - October 2018 is decreased by BGN 593 thousand. The decrease represents the effect of the pro-rata discounts with respect to sales volumes of batteries expected to be realized by the end of the year which is related to the first time adoption of IFRS 15.

The adjustments above do not affect the annual result for 2018 but have an effect only on the comparable periods of January- October 2018 and November-December 2018.

5) The profit from discontinued operations for 2019 includes the accounting effect of the deconsolidation of led lightning business segment.

 

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