Positive business trends continue

AD Plastik Group has published Interim Report by Management for the first nine months of 2019, showing that operating revenue increased by 16.6 percent compared to the same period of the previous year and amounted to HRK 1,095.32 million.

„Business results for the first nine months show the positive trends of our business operations, despite the slightly less favorable market impacts. Since the beginning of the year we have been focused on the industrialization and realization of projects on which deals have been sealed. In addition to the start of serial production of the redesigned Twingo and the new Clio 5, which began in the second quarter, by the end of the year a serial production for the very demanding Ford project, with which we are collaborating for the first time on the painting program, as well as the redesigned Smart will have begun,“ said Marinko Došen, President of the Management Board of the AD Plastik Group.

Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) amounted to HRK 133.54 million at the Group level, which represents an increase of 3.57 percent and EBITDA margin amounting to 12.19 percent was achieved. Revenue and EBITDA growth as well as more favorable net financial result have also contributed to a 6.28 percent increase in the Group’s net profit which amounted to HRK 63.86 million in the reporting period.„In the last few months, we have sealed significant development and production deals for components in Russia, which mainly relate to new models of the Renault-Nissan-AvtoVAZ Alliance, one of our key customers in that market. These deals will significantly utilize the capacities of our Russian factories, which will allow further growth and development of the Group in this market. In the automotive industry, we have the well-deserved position of a quality and reliable partner, and we have found our business niche in which we achieve results far above the industry average,“ said Marinko Došen.