Monbat represents a prominent value creation, driven by strong operational performance, enabled by a complete vertical integration that supports natural hedging in order to sustain growth and invest in new sources of marginal revenue and significant increase of the EV in 2021.
Source of Wealth (FY 2021)
Based on these results Monbat was able to guarantee the next phase of growth through investments in new sources of revenue and to increase the group's added value by 21.2% during the period January – December 2021. There is a favorable volume variance related to the sale of lead-acid batteries with volumes being up by 351,263 pieces or 11.4% increase in terms of batteries sold. Furthermore, the battery price was increased year-on-year driven by the average LME lead index increase.
The above was coupled with favorable business conditions and sound management actions during the year (e.g. related to actioning upon rising prices of gas, electricity and others) improved the performance during the FY, resulting in 28.99% Year-to-Year EBITDA increase (EUR 23.7 million in 2021 compared to previous year result of EUR 18.4 million for 2020).