Monbat : with an increase of the consolidated monthly results for May 2021

In Мay, 2021 the companies in the economic group of Monbat AD have generated consolidated net sales revenues to the amount of BGN 27 547 thousand which represents an increase of 53.10% compared to the consolidated net sales revenues from continuing operations generated in May, 2020.

The consolidated data for the first five months of 2021 shows that the companies in the economic group of Monbat AD have generated consolidated net sales revenues to the amount of BGN 146 790 thousand which represents an increase by 33.70% compared to the consolidated net sales revenues from continuing operations for the same period of 2020.

The generated net sales revenues from continuing operations for the first five months of 2021 in the amount of BGN 146 790 thousand are allocated as follows:

Production	BGN 139836 thousand
Products	BGN 199 thousand
Services	BGN 2521 thousand
Others	BGN 4234 thousand

The generated consolidated result before taxes of the companies in the economic group of Monbat AD for May, 2021 is a profit of BGN 1 044 thousand, which represents a decrease by 28.70 % compared to the consolidated result before taxes for the same period of 2020.

The consolidated data for the first five months of 2021 shows that the companies in the economic group of Monbat AD have generated profit before taxes to the amount of BGN 11 037 thousand, which represents an increase by 111.20 % compared to the generated consolidated profit before taxes for same period of 2020.

The consolidated EBITDA of the Group for May 2021 stands at BGN 3 449 thousand which represents an increase by 13.70 % to the consolidated EBITDA for May 2020.

The consolidated data for the first five months of 2021 show that the companies in the economic group of Monbat AD have generated EBITDA to the amount of BGN 20 963 thousand which represents an increase of 52.20 % compared to same period of 2020.

Notes:

1) Other revenues recognized in the comparable period for the first four months of 2020 are adjusted with BGN 1 305 thousand. The value of the adjustment relates to recorded revenues in connection with fixed assets sold on sale and lease back arrangement, for which after review it has been concluded that the criteria stipulated in IFRS 15 for revenue recognition and respectively write-off of the carrying amount of the sale have not been met.

2) In May 2020 the Group has recorded revenue in connection with expected subsidy for recycling of scrap batteries on the territory of Republic of Serbia for 2019 to the amount of BGN 1,414 thousand, as a contract has been signed by Monbat Recycling Serbia and the ministry of Republic of Serbia which validates the expected payment and respective amount of the subsidy.

In May 2021 the Group has not recorded revenue in connection with the expected subsidy for 2020, as the amount of the subsidy has been decided in June 2021. The payment by the ministry of Republic of Serbia is expected to be made in July 2021.