Strong seven months for Monbat Group despite difficult economic conditions, with 4.2% EBITDA increase year-on-year

Financial
September 04, 2020

In July, 2020 the companies in the economic group of Monbat AD have generated consolidated net sales revenues to the amount of BGN 27 841 thousand which represents an increase of 11.8% compared to the consolidated net sales revenues from continuing operations generated in July, 2019.  

The consolidated data for the first seven months of 2020 shows that the companies in the economic group of Monbat AD have generated consolidated net sales revenues to the amount of BGN 162 931 thousand which represents a decrease by 9.10% compared to the consolidated net sales revenues from continuing operations for the same period of 2019.

The generated net sales revenues from continuing operations for the first seven months of 2020 in the amount of BGN 162 931 thousand are allocated as follows:

 

Production  

BGN  156 951 thousand

Products

BGN        826 thousand

Services

BGN      2 113 thousand

Others

BGN      3 041 thousand

 

The generated consolidated result before taxes of the companies in the economic group of Monbat AD for July, 2020 is a profit of BGN 789 thousand, which represents an increase of 2.2 % compared to the consolidated result before taxes from continuing operations for the same period of 2019.

The consolidated data for the first seven months of 2020 shows that the companies in the economic group of Monbat AD have generated profit before taxes to the amount of BGN 7 182 thousand, which represents a decrease by 14.50% compared to the generated consolidated profit before taxes from continuing operations for same period of 2019.

The consolidated EBITDA of the Group for July 2020 stands at BGN 4 331 thousand which represents an increase of 64.90% to the consolidated EBITDA from continuing operations for July 2019.

The consolidated data for the first seven months of 2020 show that the companies in the economic group of Monbat AD have generated EBITDA to the amount of BGN 21 502 thousand which represents an increase of 4.20% compared to same period of 2019.

 

Notes:

1) Other revenues recognized in the comparable period January-July 2019 are adjusted with BGN 3,894 thousand. The value of the adjustment relates to recorded revenues in connection with fixed assets sold on sale and lease back arrangement, for which after review it has been concluded that the criteria stipulated in IFRS 15 for revenue recognition and respectively write-off of the carrying amount of the sale have not been met.

2) The revenues from sales of production in the comparable period January-July 2019 were adjusted by BGN 450 thousand. The adjustment represents a pro-rata accrual with respect to expected value of annual bonuses for volume discounts related to batteries sold to certain distributors.

3) Interest expense related to a payment on the bond obligation to the amount of app. BGN 820 thousand was accounted in July 2020, while the accounting of the interest expense with respect to the payment made in July 2019 was recorded in June 2019.