Bulgarian car battery maker MonBat Q1 cons pre-tax profit up 17% y/y

SOFIA (Bulgaria), April 25 (SeeNews) – Bulgarian car battery manufacturer MonBat [BUL:5MB] said on Friday its consolidated pre-tax profit rose 17% on the year to 6.5 million levs ($4.6 million/3.3 million euro) in the first three months of 2014.

Consolidated net sales revenues were down 7.8% on the year to 59.5 million levs in the first quarter while consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) increased by over 11% year-on-year to nearly 10 million levs, MonBat said in a statement.

In March alone, consolidated net sales dropped by an annual 25% to 14.9 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)

Choose your newsletter by Renewables Now. Join for free!