April 2020, Monthly Results

In April, 2020 the companies in the economic group of Monbat AD have generated consolidated net sales revenues from continuing operations in the amount of BGN 19 949 thousand which represents a decrease of 25.90% compared to the consolidated net sales revenues generated in April, 2019. 

The summarized data for the first four 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 93 109 thousand which represents a decrease by 11.90% 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 April, 2020 is a profit of BGN 593 thousand, which represents a decrease by 14.20 % compared to the prior period of 2019.

The summarized data for the first four months of  2020 show that the companies in the economic group of Monbat AD have generated profit before taxes in the amount of BGN 3 761 thousand , which represents a decrease by 54.50% compared to the generated consolidated profit before taxes for same period of 2019.

The consolidated EBITDA of the Group from continuing operations for April 2020 stands at BGN 2 226 thousand which represents a decrease by 15.20 % to the comparative period of April 2019.

The summarized data for the first four months of 2020 show that the companies in the economic group of Monbat AD have reached EBITDA to the amount of BGN 10 740 thousand which represents a decrease by 25.60% compared to same period of 2019.

Note:

1) In March 2019 the Group has recognized EBITDA to the amount of BGN 1,283 thousand related to accrued income with respect to government subsidy received in April 2019 for recycling of scrap batteries conducted by Monbat Recycling Serbia in 2018 on the territory of Republic of Serbia.

During the period January-April 2020 the Group has not recorded revenue in connection with the expected subsidy for 2019, as the subsidy has not been paid yet. Payment is expected to be made in June 2020.

2) Other revenues recognized in the comparable period January-April 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.