Monbat

ELANA Trading analysts released the 2014 corporate earnings report on the largest Bulgarian battery producer Monbat, which concluded that the company, listed on the Bulgarian Stock Exchange, performed better than analyst expectations.

The researchers estimated 4.3% decline in sales for 2014 and apart from the rising lead price in Q3 and warm winter in Europe, Monbat managed a 3.98% decline y-o-y to BGN 230.6 m. However, sales volumes are up by 1% y-o-y to 2.28 million batteries sold.

Monbat is a vertically integrated holding with three major business lines – production, sale and recycling of lead-acid batteries. The company is Bulgarian-owned and is among the fastest growing battery producers in South East Europe. The export represents 85% of sales and its main markets are Greece, France and Germany.

Monbat was listed on the Bulgarian Stock Exchange in 2006. The IPO was managed by ELANA Trading.

Find out more in 2014 Corporate earnings report by ELANA Trading analysts