Monbat - car batteries producer

Leading car batteries producer Monbat (5MB BU) posts strongest consolidated Q1 results ever, according to preliminary monthly results posted by the Company.

LME advance boosted Q1 of car batteries producer

Preliminary consolidated Q1’17 sales add up to BGN 78.2m, up 22% y/y and strongest ever. EBITDA advanced 12.3% y/y to BGN 13.9m, also strongest ever in the history of the Company. Profit before taxes is BGN 9.6m, up 9.6% y/y. Strong Q1 results come in time of significant LME lead advance with average prices up by 25% y/y to over EUR 2000 per ton.

Monbat to be presented at Bulgarian Capital Market Day in London

Monbat is part of top 10 blue chips to meet investors in London on a special Bulgarian Capital Market Day event that will take place at EBRD headquarters on 18 May 2017 presenting for one day an insight in CEE regional development and Bulgarian capital market in-depth.

Mr. Petar Bozadzhiev, CFO of the car batteries producer will make a presentation of the Company and will be available for on-on-one meetings on preliminary registration with the organizer Bulgarian Stock Exchange.

ELANA Trading, Citibank and Sofia International Securities are partners to the Bulgarian Stock Exchange and the host EBRD.

Monbat forecasts double EBITDA by 2021

The car batteries producer aims to double EBITDA by 2021 on volumes, new technology and business diversification, according to the Company’s 2017 2021 Development Plan, published on the stock exchange earlier in March 2017.

Average volume growth for the forecasted period is expected at 6%, which would translate into 10% y/y average revenue expansion. The forecasts are based on a EUR 2000/ton LME with consolidated EBITDA growth for the period of 2019-2021 also reflecting incremental EBITDA impact of intended business extension and diversification, Monbat explained in the note to investors.

Overall, for the 2017-2021 Monbat expects to achieve EBITDA and net profit doubling with a top line adding 43% cumulatively. EBITDA and net profit added 65% cumulatively over the last five years with a top line expanding by one third. More

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