Bulgarian Car Battery Maker MonBat 11-mo Pre-Tax Profit Falls 39% to 8.7 Mln Euro

Bulgarian car battery maker MonBat said on Wednesday its eleven-month pre-tax profit fell by 39.3% to 17.1 million levs ($12.5 million/8.7 million euro) as sales dropped by one third on the year.

Net sales decreased by 33.5% to 112.1 million levs in January-November, the company said.

In November alone, MonBat had a pre-tax profit of 1.8 million levs, down 8.5% from a year earlier. Its November sales were 3.15% higher year-on-year to 16.8 million levs.

MonBat said last month it expects a full-year pre-tax profit of 19.8 million levs on 125.6 million levs sales.

The company, majority-owned by Bulgarian lubricants producer Prista Oil, has subsidiaries in Romania and Serbia. It exports to Germany, the Netherlands, Ukraine, Romania and Serbia, generating around 85% of its total revenue abroad.

Shares of the company, part of the blue-chip SOFIX index on the bourse in Sofia, closed unchanged at 6.5 levs in a volume of 3,450 stocks on Wednesday.

(1 euro = 1.95583 Bulgarian levs)

Choose your newsletter by Renewables Now. Join for free!