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BGN 3.18 0 %
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Batteries

Monbat Group provides a wide range of battery products and solutions for a variety of end-market applications

Automotive
Automotive
Agriculture
Agriculture
Public Transportation
Public Transportation
Marine
Marine
Defence
Defence
Industrial
Industrial
Aerospace
Aerospace
Telecommunications
Telecommunications
Renewable sources
Renewable sources

LEAD ACID BATTERIES

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The lead acid battery business focuses on the production of lead-acid automotive and stationary batteries and their servicing. The products in this segment can be divided into the following main groups:

  • starter batteries
  • stationary batteries
  • deep cycle batteries
  • special batteries
  • locomotives batteries
  • leisure batteries

RECYCLING

RECYCLING contacts

The division operates in recycling and trading activities of

  • lead acid scrap batteries
  • lead alloys
  • polyethylene and polypropylene materials

Recycling facilities are located in Bulgaria as well as in Italy, Romania and Serbia.

LITHIUM ION SOLUTIONS

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The lithium-Ion business segment operates under the EAS brand and provides cells and systems based on safe and proven LFP chemistry. The adopted cylindrical cells technology and the modular-based packing approach of the battery and systems allows EAS to maintain its attractive product range of High Power (HP) batteries for selected industries such as:

  • public transport
  • commercial fleet
  • construction machines
  • marine
  • harbour
  • and airport operations
EUR 1 = BGN 1.9558

Equity Case

Monbat represents a prominent value creation, driven by strong operational performance, enabled by a complete vertical integration that supports natural hedging to sustain growth and invest in new sources of marginal revenue and significant increase of the EV in 2023.

Legenda

Source of Wealth FY 2023

Source of wealth

EV Multiplier – 9.53 times(17.9)%Y-t-Y
1

Enterprise value

EV – 194 379 (EUR ‘000)(7.5)Y-t-Y
2

Shareholders earnings

EPS – 0.06 EUR(35.3)%Y-t-Y
3

Operational performance

Adjusted EBITDA from continuing operations- 20 402 (EUR ‘000)13%Y-t-Y
4

Valuation

M/B – 0.76 times(18.6)%Y-t-Y

The difficult economic situation in recent years because of global military conflicts. The first of these was between Russia and Ukraine, because of which the European Union imposed numerous economic sanctions on Russia, and this led to a drastic increase in the prices of both energy carriers and basic raw materials. Albeit with a lesser effect on the Group, the military escalation between Israel and Palestine has been reflected with a drop in demand for rechargeable batteries in the region, as well as an increase in insurance premiums for cargoes that are located near the conflict points.

To minimize the negative effects caused by the complicated macroeconomic environment, Monbat has oriented its business strategy mainly towards the optimization of technological costs and new investments in energy- and resource-saving production facilities. As a result of these two means, the Group is realizing growth and sustainable operating results in 2023.

EBITDA increased by 13% year-on-year, compared to the previous year (EUR 18,114 million in 2022).

The conflict between Russia and Ukraine in early 2022, led to a decline in demand and sales of rechargeable batteries in some of the Group’s core markets. As a result, the last two years have been led by the Company both consolidating its market position and entering new markets, which has led to the realization of growth in rechargeable battery sales and a recovery to pre-war conflict levels.  The timely strategic actions taken by the management in 2023 are the basis for the Group’s sustainable performance. Management’s future goals and expectations are for the Company to grow its market share among international players, which will be a prerequisite for both sales growth and higher operating profit margins.