Monbat has announced the Q3 2018 consolidated financial report

As at 30.09.2018 MONBAT AD reports consolidated net sales revenues in the amount of BGN 209 175 000 which represents a decrease by 8.05 % compared to the consolidated net sales revenues generated as of 30.09.2017 in the amount of BGN 227 494 000.

The consolidated profit before taxes generated by MONBAT AD as at 30.09.2018 is in the amount of BGN 5 872 000 compared to the consolidated profit before taxes as at 30.09.2017 in the amount of BGN 21 252 000. This represents a decrease of the profit before taxes by 72.37 %.

The consolidated net profit of MONBAT AD as at 30.09.2018 is in the amount of BGN 4 780 000 and reports a decrease by 74.85 % compared to the consolidated net profit of the company as at 30.09.2017 which is in the amount of BGN 19 006 000.

As at 30.09.2018 EBITDA (profit before interest +amortization, decreased with financial incomes and increased with financial expenses) of MONBAT AD on a consolidated basis is in the amount of BGN 20 235 000 compared to EBITDA reported as at 30.09.2017 on a consolidated basis in the amount of BGN 32 000 000. This represents an EBITDA increase by 36.77 %.

As at 30.09.2018 EBIT (profit before interest, decreased with financial incomes and increased with financial expenses) of MONBAT AD on a consolidated basis is in the amount of BGN 9 180 000 compared to EBIT on a consolidated basis in the amount of BGN 22 134 000 as at 30.09.2017. This represents an EBIT decrease by 58.53 %.

Important Note: EBITDA and profit before taxes for the comparative period of 2017 are adjusted downwards with:

∙ 3 050 000 BGN representing the nine mounts period of 2017 effect stemming from the correction of the accounting error with respect to the non-elimination of intragroup profit on unrealized inventory. More details about the accounting error could be found in the consolidated audited financial report of Monbat as at 31.12.2017

∙ 1 642 000 BGN with respect to the effect on the nine mounts period of 2017 comparative figures coming from the lack of government subsidy in Monbat Recycling Serbia. The expected subsidy was initially accounted in the Consolidated Financial Statements of Monbat AD for 2017 but was consequently reversed due to the occurrence of adjusting subsequent events which are described in more detail in the consolidated audited financial report of Monbat as at 31.12.2017

For the period 01.01.2018 – 30.09.2018 MONBAT AD has generated consolidated revenues from abroad totaling EUR 98 768 000 which represent 92.35 % of the total net sales revenues.

For the period 01.01.2018 – 30.09.2018 major market for MONBAT AD was France with EUR 14 611 000 sales revenues which represents 14.79 % of the total consolidated export of the company.

The generated consolidated sales revenues on the domestic market basis as of 30.09.2018 were in the amount of BGN 16 000 000 (EUR 8 181 000) and represent 7.65 % of the net sales revenues of the company.

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