Monbat released strong H1 unconsoldiated statements

24.07.2007 Source: FFBH

Monbat's revenues jumped 38% in H1 2007 to reach BGN 51m. According to the company report the strong performance is mostly a result of 44% jump in export revenues. The main export markets of Monbat are Germany, the Netherlands, Italy, the Czech Republic, Belgium, UK, Romania and Greece. Only exports to Germany in H1 2007 have surged 98% YoY according to the company. The domestic sales of Monbat increased 7% during the same period. The company EBITDA also improved significantly - 52% up YoY to BGN 9.3m, while EBITDA margin expanded to 18% from 16.5% a year earlier. With almost 4x lower interest costs and nearly the same depreciation expenses, Monbat almost doubled its net income - H1 2007 profit reached BGN 6.8m from BGN 3.6m a year earlier. Q2 is usually the weakest quarter of the year for Monbat, however, this time the company nearly peered its Q1 result - Q2 revenues reached BGN 25.1m from BGN 25.9m in Q1. Quarter-on-quarter operating efficiency even improved and Q2 EBIDTA reached BGN 4.9m from BGN 4.4m in Jan-March.