Leading lead-acid batteries producer in Bulgaria Monbat books 19% y/y rise in sales and 14% y/y rise in earnings before taxes in Jan’17, according to preliminary monthly data published by the Company.
January 2017 sales came at BGN 25.1m, up 18.7% y/y as LME prices remain strong. Some margin erosion, however, was evident. EBITDA of the lead-acid batteries producer is up 11.4% y/y to BGN 4.2m or 16.9% EBITDA margin vs. a FY2016 EBITDA margin of 18.3%.
Monbat earnings before taxes added 13.8% y/y to BGN 2.99m in January 2017 or 11.9% EBT margin vs 12.2% EBT margin for FY2016.
Lead-acid batteries producer upgrading on historical results
Earleir in January 2017, Monbat’s management claimed it saw record FY2016 with fully realized plans and a fairly valued stock at a EUR 190 m market cap. CEO Atanas Bobokov defined 2016 as historical for the lead-acid batteries producer both on an individual and group level as it realized its fairly ambitious plans both for the top and bottom line. He said the Company achieved best profitability, best volume sales, biggest investments, strongest net income rise and biggest new capacity utilization in a year.
Monbat announced 7.21% y/y rise in consolidated top line to BGN 263.7m for FY2016 on both rising volumes and surging LME prices. This was the strongest top line result for the Group ever.
Profitability is also at all time high with EBITDA announced at BGN 48.1m, up 23.6% y/y and yielding record 12M EBITDA margin of 18.2%. Earnings before taxes stood at BGN 32m, up 27% y/y.
Monbat Group of Companies
Monbat Group of Companies is a leading European manufacturer of lead-acid batteries for various applications. During the last 10 years the Group proved to be also a leading producer of lead and lead alloys through its subsidiary Monbat Recycling EAD. Monbat Group of Companies consists of: MONBAT PLC – manufacturer of starter lead-acid batteries and AGM batteries for various applications; START PLC – manufacturer of lead-acid starter batteries for trucks, buses, heavy-duty automotive and road Construction Equipment; MONBAT RECYCLING EAD – recycling of lead and lead alloys; OCTA LIGHT PLC – manufacturer of powerful high-brightness light emitting diodes and LED luminaries.