Net profit better than the announced one
According to recently published audited annual report, the net profit of AD Plastik Group is better than the announced one. By improving efficiency and by rationalization of business operations profitability has been improved, which is confirmed by realized net profit margin of 5.3 percent, that is a net profit amounting to HRK 49.7 million. The EBITDA margin amounted to 14.5 percent and showed an increase compared to 11.2 percent of the previous year. EBITDA amounted to HRK 135.9 million and was by 18.3 percent higher than in the previous year. Operating revenue in the reporting period was slightly lower and amounted to HRK 935.8 million.
„The audited annual report shows even better results than the preliminary ones, which is why we are extremely satisfied. For the second consecutive year, we have been achieving very good business results and we are confident that we will continue this trend in the future. Despite a smaller decline in revenue, the decline in operating expenses is considerably higher, which is confirmed by realized EBITDA and net profit growth of the Group,” said President of the Management Board Marinko Došen.
By reducing loan indebtedness by HRK 38 million and liabilities towards suppliers by HRK 42.4 million, AD Plastik Group has additionally strengthened its financial stability. In 2016 new deals were sealed, whose total value in full production years will amount over EUR 20 million per year.
The share price at the end of 2016 was HRK 138, representing a growth of 40.2 percent compared to the end of 2015. The share price increase has continued in 2017, which is confirmed by reaching share price of HRK 165 in March. Despite the negative movements in the stock market, the stability of AD Plastik’s share price has maintained. Our goal is to increase revenue by 6 percent this year with a further increase in business efficiency. This will surely increase also the market value of the company to the satisfaction of all our stakeholders,” said Marinko Došen.
