Monbat reported consolidated sales of BGN 33.6m (+1.1% YoY) in Oct’21. EBITDA for the month amounted to BGN 2.6m (-32.5% YoY), leading to 3.9 p.p. decline in the respective margin, which stood at 7.9%. The main contributor for the margin erosion are high energy prices. EBT fell to BGN 876k (-55.3% YoY), which corresponds to 2.7% margin (3.4 p.p. lower than Oct’20). 10-mo consolidated sales totalled BGN 296m (+17.7% YoY), while Jan-Oct EBITDA advanced to BGN 37.8m (+19.4% YoY). YtD consolidated pre-tax earnings reached BGN 18.5m, which is 53.3% higher than the corresponding period of 2020.