June 2019, Monthly Results

In June, 2019 the companies in the economic group of Monbat AD have generated consolidated net sales revenues in the amount of BGN 20 989 thousand which represents a decrease by 15.50 % compared to the consolidated net sales revenues generated in June, 2018.  

The summarized data for the first six 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 158 619 thousand which represents an  increase by 16.40 % compared to the consolidated net sales revenues for the same period of 2018.

The generated net sales revenues for the first six months 2019 in the amount of BGN 158 619 thousand are allocated as follows:

The generated consolidated result of the companies in the economic group of Monbat AD for June, 2019 is BGN – 929 thousand.

The summarized data for the first six months of 2019 show that the companies in the economic group of Monbat AD have generated profit before taxes in the amount of BGN 7 791 thousand, which represents an increase of 168.10 % compared to the generated consolidated profit before taxes for same period of 2018.

The consolidated EBITDA of the Group for the month of June 2019 stands at BGN 1 879 thousand which represents a decrease of 41.80 % to the comparative period.

The consolidated EBITDA of the Group for the first six months of 2019 stands at BGN 18 912 thousand which represents an increase of 30.90 % compared to same period of 2018.

The consolidated EBITDA from continuing operations (without the led lightning business segment) of the Group for the first six months of 2019 stands at BGN 18 460 thousand which represents an increase of 47.9 % compared to same period of 2018.

The lower results for month of June 2019 compared to June 2018 are due to:

• Planned replacement of production equipment in the metallurgy section of the recycling plant in Bulgaria, which is why a substantial part of the plant’s production activity was stopped in May and in June 2019.

At the beginning of July, after the successful planned replacement of the equipment, the plant restarted full production activity.

• The drop in the LME lead index in May and June compared to the index’s level in Q1 2019

In July 2019 there is an increase in the LME lead index, which provides an opportunity for the opposite trend in the results over the next two months.

Despite the decrease in the LME lead index for the month of May and June 2019, the EBITDA from continuing operations (without the led lightning business segment) for the first six months of 2019 shows an increase of 20.4% or BGN 3 125 thousand compared to the Group Business Plan EBITDA from continuing operations for the same period.

NOTE: EBITDA and consolidated profit for the comparable period January-June 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 6 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.

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