Record revenue and net profit of the Group
The Interim Unaudited Report by Management of AD Plastik Group and the Joint Stock Company AD Plastik for 2018 shows the continuation of successful business. Record operating revenue and net profit of the company have been realized, thus operating revenue of the Group amounted to more than HRK 1.3 billion, representing a growth of 21.02 percent.
Realized operating revenue increase and the favorable net financial result have provided a record net profit of the Group amounting to HRK 87.3 million and it grew by 24.3 percent compared to the previous year. In the parent company net profit increased even by 63 percent and amounted to HRK 87.03 million.
„Another demanding and successful business year in which we achieved record operating revenue and net profit of the company is behind us. The past year was marked by preparation of new projects, out of which more than seventy were open and serial production has begun for twenty of them. The year was largely marked by acquisition of the Hungarian company Tisza Automotive, thanks to which we ensured further development and growth in one of the fastest growing automotive industry markets. We are satisfied with the results achieved and deals sealed worth EUR 136 million in the observed period,“ said Marinko Došen, President of the Management Board of AD Plastik Group.
EBITDA amounting to HRK 159.7 million was realized at the Group’s level, representing a growth of 0.8 percent compared to the previous year and in the parent company it decreased by 12.8 percent primarily due to one-time costs of launching new projects.
„The year we have successfully entered will undoubtedly be marked by start of serial production for large contracted projects as well as by further technological advancements. Our customers’ announcements are very good and we expect further revenue growth based on new deals sealed. We will have significant investments in increasing production capacities at the production sites in Croatia and we will also implement new sub-technologies that will add value to our existing product portfolio. By constantly adapting to the industry in which we operate, we have set demanding goals,“ said Marinko Došen.
Financial position of the Group is stable, but it has changed compared to the previous year mostly due to acquisition of Tisza Automotive and somewhat lower EBITDA. The value of ADPL share in the reporting period grew by 4.1 percent, unlike CROBEX which dropped by 5.1 percent. The trend of dividend payments has continued in accordance with the dividend policy, thus in the previous year a dividend amounting to HRK 10 per share was paid out.
