First quarter results
The business results of AD Plastik Group for the first quarter of 2022 have been published, period marked by the effects of the Russian-Ukrainian crisis. The Group’s operating revenue decreased by 23 percent compared to the same period of 2021 and amounted to HRK 251.8 million. EBITDA amounted to HRK 24.7 million and was lower by 52.9 percent, while net profit was lower by 97.9 percent and amounted to HRK 0.6 million.
“Challenges related to the lack of semiconductors have continued in this year too, and new circumstances and challenges directly affect the realization of our factories in Russia. Car manufacturers in that market have stopped their production activities and, although our factories are ready to resume production, at the moment it is impossible to accurately predict when production in Russia will restart. At the same time our European factories have been working according to plans even though, due to the lack of semiconductors, production capacities of some customers are still somewhat reduced”, said Marinko Došen, President of the Management Board of AD Plastik Group.
Despite the uncertainties and very demanding circumstances in the market, development activities of car manufactures have been running unhindered, with the expected disruptions in the Russian market. A good indicator in the European market are very intensive commercial activities too, which is also supported by the new deals of the AD Plastik Group worth EUR 91.7 million sealed in the first three months of 2022, of which 73.6 million in the EU market.
“Our primary task in the upcoming period is to preserve financial stability as well as business sustainability and reduce negative impacts. We are focused on the realization of existing projects and expanding the portfolio of development and production projects, in order to strengthen our position as a development supplier in the European market. We have been intensively monitoring the evolving situation and are ready for various scenarios, depending on its further development and circumstances. We are aware that there is a very demanding period ahead, but we are also sure that we will once again show and confirm our resilience and proceed to conduct stable business in the long run”, said Marinko Došen.
