The continuation of a successful business
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.
