The first quarter of 2020 saw a drop in both top and bottom lines as OPEX dropped slower than revenues. During the period, Korado sold a total of 114k radiators, down 1.6% y/y, generating sales revenues of BGN 8.8m, down 7.3% y/y, the latter being an evidence for a drop in end product prices.
Steel radiators producer Korado achieved 10% y/y bottom line growth to record bgn 5.3m in FY2018 despite tough market conditions. Profitability continued to improve on lean management, net profit margin reaching record 11.9%.
Lead acid batteries producer Monbat’s consolidated revenues down 9.7% y/y, bottom line shrank more than 4x in H1 2018, according to latest financial statements published by the Company. During the first six months, Monbat posted BGN 133.6m in revenues, marking a 9.7% y/y decrease, with exports declining by 2.9% y/y to BGN 122.5m.
Radiators producer Korado net profit boosted 20% y/y to BGN 3.2m in H1’18, according to the Company’s latest financial statements. Korado managed to deliver an exceptionally good result despite the 4.4% y/y decrease in the top line which dropped to BGN 20.6m.
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.
Bulgaria’s only steel panel radiator producer Korado delivered good results in Q1’18 as top and bottom lines showed high growth despite surging material costs. The quarter saw fewer sales at higher prices which drove revenues up, further expanding margins.
Lead acid batteries producer Monbat shareholders will vote BGN 0.19 DPS at a general shareholders meeting scheduled for 25th June, 2018, the Company announced in a regulatory filing to the Bulgarian Stock Exchange.
Steel radiator producer Korado proposed BGN 0.26 DPS and expects new contracts from Germany, the Company announced at meeting with investors on 29th March, 2018 where it presented its audited results for 2017.