Masterplast closed a successful year with a powerful sprint

Masterplast Nyrt. achieved an income of 23.8 million euros in the fourth quarter of 2018, which exceeded the value of the year before by 13 percent. The key manufacturer of construction and insulation materials in the region was able to demonstrate significant development on almost all its markets at the end of last year. On the Hungarian market with the greatest weight, price income grew by 23 percent in the October-December period, but the expansion was similar in extent in Slovakia, whilst in Poland the increase was 21 percent. To an extent even in excess of the price income, Masterplast’s operating profit grew by 14 percent in the final three months of last year, at the same time, as a result of unfavourable exchange rate effects, the company closed this period with a minimal loss of 63 thousand euros.

Examining the whole year, the Masterplast Group achieved a 10 percent growth in price income, and the company’s turnover approached one hundred million euros. The year 2018 also proved that the measures introduced in the recent period, one of the purposes of which being to strengthen profit-generating ability, have met the desired target. The company’s operating level profit increased by 24 percent last year compared with 2017, whilst the after tax profit grew by 15 percent.

On the Hungarian construction industry market, providing 36 percent of Masterplast turnover last year, the statistics once again speak of growth. The expansion was induced primarily by the state incentive schemes, the number of new housing constructions increased prominently and the renovation market became more active. Geographically, property developments were underway typically in the capital and in major cities. Besides this, developments implemented by private individuals vitalised the market on a broad scale. Construction industry expectations continue to be positive, the extension of the VAT reduction may guarantee a boom in the coming years. The newly announced family subsidy measures and the planned village CSOK may have an expressly positive effect on the construction material market. Masterplast has made new investments of more than 5 billion forints in recent years. Of these, the Subotica development of around 15 million euros in total stands out, which was completed by the end of 2018, and as a result of which the output of the fiberglass plant last year exceeded that of the previous year by 28 percent. By means of the new equipment installed during this investment, not only the capacity of the plant increased, but an improvement in quality and efficiency is also expected, and the range of products will expand to a significant extent. “2018 was a successful year for us, it is clear that we went in the right direction with our developments. We have regenerated the operation of the company and made it more efficient, and increased manufacturing capacity. These measures give us an excellent basis for exploiting the opportunities offered by the economic boom. As a result of all this, we reckon that following this year’s turnover approaching one million euros, by 2021 we will exceed an income of 120 million euros, and all this with improving efficiency. We are proud that the Masterplast group has developed into the largest Hungarian owned construction material manufacturing company in the Central-European region” – declared Dávid Tibor, president of Masterplast Nyrt. “With the end of year sprint producing significant results, we managed to surpass our business plans made in advance for last year. By completing the investments within the deadline, we created the basis for further expansion of turnover. We are particularly happy that the exchange rate has strengthened this year, and that through us the investors can come in for a direct share in construction industry developments in Hungary and the region” – added Róbert Nádasi, general manager of Masterplast.