Net profit in the amount of HRK 48.1 million
The interim unaudited report of AD Plastik Group for 2016 shows good business results for the second consecutive year. Cost efficiency of the company has been significantly improved and financial stability has been strengthened. That is confirmed by the fact that EBITDA amounted to HRK 132.9 million, more precisely EBITDA margin was 14.1 percent, compared to 11.2 percent realized in the previous year. The net profit of the Group increased by 4.1 percent and amounted to HRK 48.1 million, while operating revenue in the reporting period was lower by 8.6 percent compared to the previous year and amounted to HRK 940.5 million.
„Sales in the European market are slightly lower due to decrease in orders from customer Hella and the reduced volume of project activities, but the decrease in revenue occurred largely due to the impact of the exchange rate fluctuations. Despite this, the total produced and sold quantities of finished products were at the level of last year’s. The decline in operating expenses is significantly higher than the decline in revenue, which is confirmed by the realized EBITDA and the net profit growth of the Group itself,” said the President of the Management Board Marinko Došen.
By reducing credit indebtedness by HRK 38 million and liabilities to suppliers by HRK 46.2 million, AD Plastik Group has strengthened its financial stability. In 2016 a record dividend amounting to HRK 12 was paid, which confirms positive cash flows and good liquidity. The share price at the end of 2016 amounted to HRK 138, and that represents an increase of 40.2 percent compared to the end of the previous year.
„The growth of car sales is finally predicted in the Russian market and this is a great opportunity that we will know how to use. In the past year, we have sealed a series of new deals whose total value in years of full production will amount to over EUR 20 million per year. This year has started ambitiously and optimistically, and our goals are to increase revenue by at least 6 percent in 2017, to continue to increase business efficiency, to achieve growth in existing and new markets, and ultimately to increase market value of the company to the satisfaction of all our stakeholders,” said Marinko Došen.
