Bulgarian starter battery maker Monbat forecasts a 10-percent year on year increase in the output of starter batteries in 2009. Despite the higher output, the company expects net sales revenue to decline by 5.7% in 2009, compared to 2008.

Monbat forecasts 75.93 consolidated net sales revenue for 2009. The sales revenue of the company is estimated to reach 80.53 mln leva at the end of 2008.

Monbat forecasts 13.67 mln euros consolidated net profit for 2009, compared to 14.04 mln euros forecast for 2008. The EBITDA for 2009 is expected to total 17.58 mln euros, as opposed to 16.3 mln leva for 2008.

The forecasts for net revenue, profit and EBITDA are based on an average lead price of 1 250 dollars/tonne in 2009. The average price of lead is estimated at 2 100 dollars/tonne in 2008.

The company plans to cut its workforce by nearly 15% as of December 1, 2008 and to carry out additional lay-offs in 2009. Monbat will also reduce its material and transportation costs next year.

The starter battery maker has also reviewed the planned investments for 2009 and their total value has been cut from 25 mln leva to 14.5 mln leva.