Good first quarter results
According to the Interim Report by Management for the first three months of 2020, which has just been published, AD Plastik Group’s operating revenue amounted to HRK 362.6 million, representing an increase of 4.1 percent compared to the same period last year. Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) at the Group level amounted to HRK 62.7 million, representing an increase of 36.3 percent.
„We have made a safe step into this year and for most of this reporting period we operated in accordance with our plans and goals. All of us were faced with significant challenges caused by the spread of the COVID-19 virus, thus in the second half of March our customers were forced to temporarily stop their production facilities, and consequently – so did we. The stable financial position of the company makes it easier for us to bear the brunt of the crisis we have been facing, and we also use Government measures to ensure business sustainability“, said Marinko Došen, President of the Management Board of AD Plastik Group.
EBITDA margin amounted to 17.29 percent, and despite the negative impact of the weakening of the Russian ruble and Hungarian forint exchange rates, the Group’s net profit was slightly higher than last year in the observed period and amounted to HRK 28.2 million.
„At all Group’s sites, we undertake a range of activities to protect the health and safety of our employees. Although this situation is sure to change a lot, we have been constantly taking care of the sustainability of our business and we use this situation as an opportunity to learn and improve in all segments of our business. Our goal is to overcome crisis with as few consequences as possible and maintain our position as a quality and reliable partner. The vision and direction in which we want to develop are clear and we will not give up on that. The crisis will slow us down a bit, but it will certainly not stop us. I believe that we will succeed in this and in the long run justify the trust of all our stakeholders,“ said Marinko Došen.