Revenue realized in the amount of HRK 348.3 million

AD Plastik Group has published Interim Report by Management for the first three months of 2019 in which it has achieved operating revenue amounting to HRK 348.3 million, representing a growth of 7.7 percent compared to the same period last year. First part of the year was marked by the final stage of the production cycles of the key vehicles of AD Plastik Group, namely phase 1 of the Twingo and Smart as well as Renault Clio. A modification of serial production of the mentioned models with redesigned and modernized versions is in process, thus a serial production of the new Twingo began in late March, and the start of serial production of the Smart phase 2 and Renault Clio 5 is expected in the coming period.

Group’s net profit for the first three months of 2019 amounted to HRK 27.9 million and EBITDA amounted to HRK 46 million. This year’s EBITDA trend is not comparable to the previous year due to the different stages of the production cycles. Thus, start of production of new models will result in EBITDA growth during the year and by the end of the year integration of Tisza Automotive will also have be completed.

„In the first three months of this year we invested the greatest efforts in preparing our production sites for the start of serial production, but also in negotiations with potential and existing customers. Despite the decline in car sales in the European and Russian markets, the announcements of our customers are more than optimistic, which is a very positive indicator for further growth in our business,“ said Marinko Došen, President of the Management Board of AD Plastik Group.

Net financial result was more favorable in the observed period, and net financial debt has increased mostly due to the realization of a loan to finance investments in the parent company.

„We are satisfied with the results achieved because they are in line with what we have set and by the end of the year we will have realized the planned goals,“ said Marinko Došen.