April 15, 2026: European lead battery group Monbat has posted record consolidated sales revenue of BGN403 million (€206 million) and increased net profit for 2025.
In full-year figures released on March 30, the Bulgaria-headquartered group said consolidated sales revenue was up by nearly 5% over 2024 and net profit rose by 13% to BGN 5.6 million — an increase of 12.7% compared to the previous year.
Monbat said overall batteries sales dipped by 2%, although sales were offset by deals in lead and lead alloys produced by the group’s recycling division.
However, the group reported what it said was significant growth in battery sales in target high-margin markets such as South Africa and Israel, which offset a lack of sales in Saudi Arabia.
Saudi battery sales in 2025 were hit by the volatility of the euro-dollar exchange rate and the significant depreciation of the US currency, which is traditionally used in the Middle East region, Monbat said.
In 2024, the Saudi market saw “major volumes” of battery sales, albeit at low profitability, as well as a decrease in sales for certain customers in Spain and Ukraine.
Meanwhile, Monbat said it benefited from a fall in net financing costs of 24%, compared to 2024, as a result of lower key interest rates by the European Central Bank.
Major raw materials essential to Monbat’s activities are lead with a purity of 99.99% and 99.985%, in addition to lead alloys, recycled plastic materials and sulfuric acid.
Monbat said the availability of the materials that it holds ensures the production process for a period of between 15 and 30 days. Prices of lead and lead alloys are variable and directly dependent on the exchange prices of lead on the London Metal Exchange.
The group said it had made considerable capital expenditure in recent years to ensure its own production of lead and propylene. Monbat opened recycling facilities in Romania, Serbia and Tunisia, and acquired production facilities licensed for processing of scrap batteries in Italy.
However, the group warned that Bulgarian production is dependent on the price of electricity and natural gas, which are currently state regulated.
The Bulgarian energy sector is of key importance for the future development and sustainability of the economy in the country and for Monbat as well, the group said.
“The main risk in the sector is the country’s dependence on imported natural gas and important energy resources for this sector. The main objectives in the sector are to achieve a high-tech, secure and reliable energy system that makes maximum use of the resources available in Bulgaria and protects Bulgarian consumers as much as possible.”
On the business impact in the wake of conflict in the Middle East, Monbat said it is braced for a decline in consumer demand and a slowdown in economic growth in Bulgaria.
As of the end of last December, Monbat has customers in Israel, Qatar and other Middle Eastern countries, with revenue from this region accounting for 5.4% of total revenue for 2025.
“There is a risk that trade relations with these markets could be affected by potential disruptions to logistics and trade channels. Management is monitoring the situation and analyzing the potential effects on the company’s operations.”
In 2025 the major market for Monbat was Germany, where the group generated revenues of more than €18 million, representing 14.1% of total export sales.
