Revenue growth of AD Plastik Group
The financial statement of AD Plastik Group for the first six months of 2021, which confirms the growth of indicators despite the challenges in the global market, has been published. The Group’s operating revenue increased by 13.4 percent compared to the same period last year and amounted to HRK 622.43 million. EBITDA grew by 9.3 percent and amounted to HRK 82.50 million, while net profit amounted to HRK 32.43 million, representing an increase of 87.4 percent.
“The consequences of the pandemic and shortage of semiconductors in the market have slowed down the production of new cars in Europe, so we have been adapting our operational plans to customers. At the same time, the Russian market has been currently recovering faster and the consequences of the semiconductor shortage have not been observed there, so, accordingly, our factories are recording a more significant increase than the European ones. We have a stable financial position and we have been working smoothly on the development activities for about forty previously contracted projects for the European and Russian markets. Along with all the challenges and uncertainties, there is a slight but confident shift towards market recovery. Unfortunately, the pandemic is still present, therefore further caution is necessary. We monitor global trends and adjust our business, and we are focused on achieving our goals for this year,” said the President of the Management Board of AD Plastik Group, Marinko Došen.
Strong revenue growth in the Russian market and the movement of Russian ruble and Hungarian forint exchange rates had a positive impact on the Group’s results, while the lack of semiconductors in the European market prevented a significat indicators increase in the parent company.
In the reporting period, AD Plastik Group sealed new deals worth EUR 104 million and reduced its financial debt. Most of the deals were sealed in the European market, namely EUR 79.9 million of them for the Stellantis Group and EUR 24.1 million in the Russian market for AvtoVAZ, Nissan and the Volkswagen Group.
„Sealed deals in our portfolio provide us with a secure perspective, while a stable financial position and quality allow us to face current challenges more easily. The pandemic is still ongoing, so the uncertainty of its development and the lack of semiconductors complicate business operations and planning. Therefore, caution is necessary and our focus on risk management is still strengthened. Although this is another challenging year, we believe that the end of the crisis will be a new and big driver for the AD Plastik Group and the automotive industry as a whole. Our current plans and realization are adapted to the circumstances, and we are ready for the rapid changes and adjustments that the future brings,“ said Marinko Došen.