Bulgarian stock market wrap-up: Monbat’s profit up 28% in August
Monbat with improved profitability
Lead-acid batteries producer Monbat (5MB BU) reported 11.9% y/y drop in consolidated sales, yet profitability improved in Aug’19, the Company announced in a regular monthly filing.
The Group generated BGN 27m in sales, down 11.9%, in Aug’19, bringing the YTD sales to BGN 210.5m, up 10% y/y. Despite the drop in the top line, Monbat improved its profitability in Aug’19 boosting EBITDA 28.5% y/y to BGN 3m.
The Jan-Aug’19 EBITDA reached BGN 24.1m, up 54.5% y/y.
Stara Planina Hold’s consolidated sales shrink
Industrial products manufacturer Stara Planina Hold’s (5SR BU) Jan-Aug’19 consolidated sales dropped 5.2% y/y to BGN 155.5m, the Company said in a filing. The latter was mainly a result of subsidiary M+S Hydraulic (5MH BU) erasing 11% of sales to BGN 76.3m. The latter’s earnings before taxes dropped 26.7% y/y to BGN 10.5m.
During the period, the other big subsidiary Hydraulic Elements and Systems’ (4HE BU) (HES) top line expanded by 3.7% y/y to BGN 42.6m, yet its pre-tax profit declined to BGN 3.5m (down 11.4% y/y).
Smaller subsidiaries Elhim Iskra (52E BU) and Bulgarian Rose (4BH BU) reported sales of BGN 24.6 (down 6.7% y/y) and BGN 4.6m (up 21.5% y/y), respectively.
Change in Alterco’s extraordinary shareholders’ meeting
IoT-focused Allterco (A4L BU) changed the date of upcoming extraordinary shareholders’ meeting to 28th Oct’19, the Company announced in a filing. The agenda of the meeting remains unchanged.
Find out more in ELANA Weekly Wrap-up for 23 – 27 Sept 2019