AD Plastik Group achieved business goals
AD Plastik Group has published temporary and unaudited annual report that confirms the continuation of the positive growth trend of the company’s business results.
In 2015 AD Plastik Group achieved a 15 percent increase of total operating revenue and sales revenue grew by 16 percent compared to the last year and it amounted to more than HRK 1 billion. A 121 percent EBITDA growth was achieved compared to the same period last year and it amounted to HRK 122.4 million. Group’s net profit amounted to HRK 44.3 million, representing a growth of 800 percent compared to the previous year. The parent company in Croatia achieved sales revenue amounting to HRK 753.8 million, representing a growth of 26 percent compared to 2014.
“We made a significant turnoabout in AD Plastik’s business in the last year and business results achieved confirm the correctness of the direction we have started with. That is also supported by the fact that we have increased business revenue of AD Plastik Group by 15 percent despite the complex and demanding situation in Russia, with growth of expenses just by 9 percent. Our main goal for 2016 is further sales revenue growth, increment of EBITDA margin to 12 percent and continuation of reduction in debt obligations according to business plan. In order to improve the profitability and achieve planned business results, our key goals are growth in existing markets, efficiency improvement and strengthening financial stability, opening new business markets and increasing share value to the satisfaction of all our shareholders,” said President of the Management Board Marinko Došen.
Compared to 2014, revenue growth amounting to 37.8 percent was achieved in the EU and Serbian markets. It is a result of a further increase in the utilization of production capacities in Croatia and Serbia. Apart from the Edison project, projects related to the customers PSA and Ford contributed to capacity occupancy.
Although Russian automotive market continues to decline significantly, decrease in sales revenue in Russia has not affected significantly the Group’s planned operating revenue. Factories in Russia have begun production of new projects in the past year – Renault Duster phase 2, new Qashqai and Lada Vesta and it is important to mention winning the nominations for production of new components for Ford. AD Plastik Group recorded a revenue drop of 21.8 percent in the Russian market, which is considerably less than the overall sales drop of 35.7 percent in the Russian automotive market.
Significant turnabout in operating business management made last year has resulted in realization of planned profitability improvement and in satisfactory financial results that confirm realization of goals set by the Management Board.
