Monbat shareholders voted dividend yielding 2.3%



Batteries producer Monbat shareholders voted BGN 0.19 DPS at the shareholders’ meeting held on 25th June, 2018, the Company announced in a filing to the Bulgarian Stock Exchange. The dividend yields 2.3% at current quotes. Last year shareholders received BGN 0.28 dividend per share, which rated at 2.4% yield at the market quotes of the period.

News on Monbat investment plans

At the annual shareholders’ meeting the management commented on the development of Monbat’s investment plans. Concerning the acquisition of a majority stake in Tunisian batteries producer ASSAD, the management said that there had been a delay of c.5 months. Despite the latter, the deal is moving forward with the deal’s parameters being already clear and control overtake expected by the end of 2018. The start of recently acquired Italian recycling operations is also in delay of approx. 3 months, with testing phase still going on.

Operations in recently acquired German li-ion batteries plants are moving with a 1.5 month delay, yet key high power rocket, marine and submarine batteries’ projects and prototypes are underway.

In addition, the management touched on this year’s financial results. According to them, the main reason behind the Group’s lower financial results since the beginning of the year is the losses it had been generating from its Italian and German operations. During the next couple of weeks the Company will carry out a re-budgeting for 2018, the results of which are to be announced by the end of Jul’18. Still, the 5-year management forecast will be kept as Monbat does not expect substantial deviations from it in the years to come.

Latest Monbat earnings

Monbat expanded consolidated top line by 29.3% y/y to BGN 25.6m in May’18, the Company announced in a regular filing to the Bulgarian Stock Exchange. EBITDA for the month came to BGN 2.9m, down 34.2% y/y. EBT in May’18 stood at BGN 1.2m, representing a decrease of 59% y/y.

Cumulative consolidated revenues for Jan-May’18 came to BGN 111.4m, down 8% y/y. EBITDA for the period dropped by 51.5% y/y to BGN 11.2m, while consolidated EBT was slashed by 80.9% y/y reaching BGN 3m.

Monbat plans till 2021

Monbat news from Company website

Check the latest equity research reports by ELANA Trading