Audited and consolidated annual financial statement of the AD Plastik Group and the joint stock company AD Plastik for the year 2015 has been published, as well as quarterly report for the first three months of 2016.

AD Plastik Group achieved operating revenue amounting to over HRK 1 billion in 2015, representing a growth of 14 percent compared to the previous year, while AD Plastik in Croatia recorded a growth of 25 percent. EBITDA amounted to HRK 114.88 million and EBITDA margin amounted to 11.2 percent. Group’s net profit for the year 2015 amounted to HRK 46.2 million, representing extraordinary growth compared to the previous year. Credit indebtedness decreased by HRK 69.4 million so the Group’s liquidity indicators have improved.

„Realization of operating revenue in the amount of over HRK 1 billion in 2015 indicates that we have been applying the right business model, by means of which we have made turnabout in business over the past year. Our main goal for the year 2016 is further sales revenue growth, increment of EBITDA margin to 12 percent and continuation of reduction in credit indebtedness according to business plan. Furthermore, our key goals are growth in the existing markets, efficiency improvement and strengthening financial stability as well as opening new business markets. The changes we have been making are big, but with the clear vision we have I am sure that there will be success. AD Plastik is a quality and reliable partner and that is exactly what we will persist on and keep developing in the future“, said Marinko Došen, President of the Management Board of AD Plastik. 

Revenue amounting to HRK 258.1 million was generated in the first quarter at the AD Plastik Group’s level and that was in line with the business plan and compared to the same period last year, it decreased by 1.3 percent. Achieved Group’s net profit amounted to HRK 14.6 million and, despite a slightly lower realization, it has recorded a growth compared to the same period last year. Realized EBITDA for the first quarter amounted to HRK 35.9 million and a 13.9 percent EBITDA margin was realized. The Group continues to record revenue growth in the EU and Serbian markets, namely by 3.8 percent in the observed period. Sales realized in the Russian market exceed target plan and indicate beginning of stabilization in the Russian market. Nevertheless, total revenue in Russia decreased by 16 percent compared to the first three months last year.

„In the course of the year we will stay focused on further improvement of cost efficiency so the continuation of this trend can be expected in the result. The fact that the results achieved in the observed period were within set business plan gives us reason for satisfaction, but not for relaxation. The first quarter indicates the growth in operating margins at all production sites compared to the same period last year, but also compared to the set business plan. They are also a main generator of EBITDA margin growth. We believe in achieving our business plans and goals to the satisfaction of all our stakeholders“, said Marinko Došen.

This year ADP Day has been celebrated for the first time in all production sites of AD Plastik Group. ADP Day is celebrated on April 22 when company Autodijelovi, the predecessor of present AD Plastik Group, was founded by separating from the company Jugoplastika.

Chat with the members of the Management Board in the production site Solin and team building for the management of the Group have been organized for the first time. An interesting motivational lecture held by well reputed alpinist Stipe Božić was an introduction to the competitive Olympic Games among the teams. Happy ADP Day to us!

Action of spring cleaning of the environment has traditionally been organized in the Russian plant AD Plastik in Vintai. Valuable hands of ADP employees jointly cleared and cleaned grassy surfaces around the production site. Director of the plant Alexandr Vladimirovich Lebed joined them and after hard work they found time for hanging out.

Project Experience is worth more than gold allows students with disabilities to apply for an internship in the company whose nature of work complies with the direction of their studies. AD Plastik has been part of this project second year in a row considering it to be useful and necessary. This project contributes to raising the awareness of the business community and society in whole about the problems people with disabilities are facing with when getting employed.

“This is a good way to speak openly about a specific problem, but at the same time about positive practice that should serve as an example for all companies in Croatia. Through this project students with disabilities are given chance to gain practical knowledge and experience necessary for further development of their business path. This is more than enough reason to support such project,” pointed out President of the AD Plastik Group’s Management Board Marinko Došen.

When AD Plastik participated for the first time in this project, it had a very positive experience. Young female student with disabilities was enabled to undertake internship in Solin and she has provided herself a future job in this company with her commitment and effort.

The University of Split and AD Plastik have signed cooperation agreement by which AD Plastik became a teaching base for students in Split. Cooperation agreement with the University, that is its faculties – Faculty of electrical engineering, mechanical engineering and naval architecture, Faculty of Economics and Faculty of chemistry and technology – has beeen signed at the Rectorate and thanks to this cooperation, best students will do summer internship in AD Plastik’s production sites.

“Survival in a demanding automotive market wouldn’t be possible without constant investments in innovations, investments, research and development. That is why this is beginning of a new, mutually beneficial cooperation which will surely provide a synergistic effect. The data show that 80 percent of post-doctoral dissertations in America are related to the industry. Thus this can be additional motivation for the growth of the Croatian economy”, said Marinko Došen, President of the Management Board of AD Plastik Group.

About 180 participants attended this year’s Ron Brown Forum held in Dubrovnik and organized by Croatian Chamber of Economy and the US Embassy in Croatia. The main theme of the forum „CIRAZ 2016: Harnessing Innovation to Drive Economic Growth – The Ron Brown Legacy“ was the establishment of the Center for Industrial Development of Croatia, goal of which is to improve cooperation between the scientific sector and economy.

The purpose of the Center for Industrial Development is to stimulate economic development through a concrete connection of economy and science, innovation, research and development. The project CIRAZ will be improving the future cooperation between Croatia and US through Ron Brown U.S. – Croatian Innovation Council, that is through the council for exchange of world best practices in the field of innovation.

At the first panel „Impulse to the economy competitiveness growth“, held as part of the conference, the way of making Croatian economy globally competitive has been discussed. President of the AD Plastik’s Management Board Marinko Došen has also participated in the discussion and he mentioned the importance of investing in development and innovation, emphasizing it as a generator of AD Plastik’s competitiveness. He pointed out the problem of infrastructure costs and unequal business conditions in countries where AD Plastik factories are located.

„Due to these infrastructure costs, there is a lot of room for improvement in Croatia. For the past three years, AD Plastik has invested about EUR 60 million in development, innovation and investments. This is precisely why we are competitive,“ explained Marinko Došen.