Bulgarian car maker MonBat 7-mo pre-tax profit grows

SOFIA (Bulgaria), August 26 (SeeNews) – Bulgarian car battery manufacturer MonBat [BUL:5MB] said on Tuesday its consolidated pre-tax profit rose by an annual 12.6% to 14.7 million levs ($9.9 million/7.5 million euro) in the period January-July.

Consolidated net sales went down by an annual 10.2% to 119.4 million levs in the fierst seven months of the year, while earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 6.4% to 22.5 million levs, MonBat said in a notice.

In July alone, MonBat’s consolidated pre-tax profit decreased by 8.4% to nearly 2.9 million levs, while its EBITDA dropped by 6.4% to some 4.0 million levs. Consolidated net sales declined by 12.5% on the year to 16.4 million levs.

MonBat operates four plants for manufacturing and recycling of lead-acid batteries, diodes and light-emitting diode luminaires.

(1 euro = 1.95583 Bulgarian levs)

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