Elhim Iskra April report shows a 1.1% decrease in revenue and 64.1% surge in EBT (POSITIVE)

Elhim Iskra Apr'19 sales were in line with the guidance at BGN 3.2m (-1.1% YoY). EBT surged by 64.1% to BGN 105k and resulted in a 1.3 p.p. margin improvement to 3.3%. Management expected the revenue to grow by 11.2% YoY in May and reach BGN 3.7m. YTD sales stood at BGN 13.3m (-3.9% YoY), while EBT grew by 139% to BGN 416k (3.1% pre-tax margin, up by 1.3 p.p. YoY).