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Bulgartabac Holding Q1’18 consolidated sales decrease by 23.3%, finishes the quarter at a net loss (NEGATIVE)

Bulgartabac Holding continued to scale down its operations and reported another quarter of revenue decrease. In Q1’18, the sales of Bulgartabac Holding reached BGN 75.7m, 23.3% lower than in the comparable period. Material costs were cut by 54.4% during the period, which left EBITDA at BGN 4.2m (5.6% margin vs 26% in Q1’17). The drop in EBITDA margin is due to BGN 35.8m additional COGS from the consolidation of electronics retailer Technomarket. The bottom line stood at BGN 3.7m net loss as compared to BGN 17.7m net profit in the base period.

Source: Bulgartabac Holding; FFBH

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