Preparation for the new projects realization
The results of AD Plastik Group’s operations for the first nine months of 2023 have been published, which show the positive effects of further stabilization of supply chains and the supply of semiconductors in the automotive industry. The operating revenue of the Group was higher by 14.7 percent compared to the same period last year and amounted to EUR 94.97 million. The operating revenue of the parent company increased by 14.8 percent and amounted to EUR 70.06 million, while the Group’s revenue on the markets of the European Union and Serbia was higher even by 20.4 percent.
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) at the Group level recorded a significant growth of 350.5 percent compared to the comparative period when the achieved EBITDA was normalized for the value adjustment of Russian companies’ assets. Thus, the Group’s EBITDA for the reporting period amounted to EUR 6.92 million. The net profit for the first nine months amounted to EUR 0.4 million, which is a significant improvement compared to the comparative period.
“In the observed period, our focus was primarily on high-quality preparation and industrialization of new projects, related to which serial production will begin at the end of this year and mostly during the next year. Since good preparation is already half the job, I believe that we will successfully start the serial production of the projects that are ahead of us, because it is one of our most important tasks at the moment. At the same time, our sales activities are directed towards new projects in the European market, with constant improvements and enhancements in our development activities,“ said Marinko Došen, President of the Management Board of AD Plastik Group.
Although we will certainly still have to wait for the figures in the car market to reach the pre-pandemic ones, positive trends, growth in demand for new cars, and consequently increased production, significantly facilitate business and planning. Better capacity utilization due to growth in orders, adjustment of sales prices, normalization of energy sources and material prices have had a positive effect also on the movement of margins and profitability of AD Plastik Group.
“Currently, 30 projects in Europe are active, of which we expect the start of serial production for three projects by the end of the year, and next year we expect the start of serial production for even 22 projects. Despite the very demanding circumstances and global uncertainties, the slight recovery of the market gives reason for optimism and is an additional motive for us to realize our long-term goals. In addition to the already recognized quality we offer, our mission is to strengthen our position as a development supplier in this part of Europe, and we have been working intensively on this,” – said Marinko Došen.
