Elhim Iskra May’20 sales drop 59.8% YoY in May; Management projects a 26.0% slumps in June and July revenue (NEGATIVE)

24.06.2020 Source: Elhim Iskra; FFBH

Elhim Iskra’ sales in May’20 tumbled 59.8% YoY to BGN 1 554k. Pre-tax earnings turned negative again and stood at BGN 187k. Please bear in mind that a year ago EBT was positive and amounted to BGN 132k. YTD sales reached BGN 11.9m (-30.2% YoY). 5-months pre-tax earnings registered a loss of BGN 503K compared to BGN 548k profit a year earlier. Management guidance for June is for a revenue of BGN 2 560k, representing a 26.0% YoY slump, which corresponds to a 40.7% YoY decrease for H1’20. Forecasts for July were also mentioned – another 26.0% YoY decrease, which translated to sales of BGN 1 798k and BGN 16.3m for the month and YTD (-26.3% YoY), respectively.