Monbat’s Dec’17 cons sales down 12.1% YoY, while monthly EBT expands 49.1% YoY (NEUTRAL)

Monbat’s Dec’17 consolidated revenue decreased 12.1% YoY (-28.0% MoM) to BGN 24.8m. The monthly EBITDA was up 5.7% YoY to BGN 2.9m and the EBT jumped 49.1% YoY to BGN 0.6m. The YTD revenue grew by 23.7% YoY to BGN 325.5m, while the EBITDA increased by 6.5% YoY to BGN 49.1m. The cumulative EBT grew 5.0% YoY to BGN 31.7m.