Masterplast is on a continuous growth path

In the second quarter, Masterplast Group achieved a consolidated turnover of EUR 28,507 which meant a 6-percent increase compared to the year. Among the largest markets of the company, the growth was 12 percent in Hungary, while the turnover increased with 16 percent in the export markets compared to the year. The weather conditions affected negatively the growing dynamics of turnover in the second quarter. The extremely humid May was followed by a boiling June which decelerated the realisation of investments in the region.

The products of facade insulation system constituted the major part of Masterplast’s turnover with a 15-percent increase in the period of April-June in this segment. The production of glass fibre in Subotica, the facade system and the EPS company were significantly increased in the second quarter compared to the basis, while the production of the foam foil company in Kál was slightly declined.

The effectiveness of Masterplast Group have increased over the growth of turnover in the second quarter and achieved EUR 2,409 EBITDA, exceeding the previous year with 16,5 percent. As a result, the company reached a 8,4-percent effectiveness in the investigating period compared to the 7,7 percent measured last year. The post-tax profit of the company constituted EUR 1,824, which means a 10-percent growth compared to the year.

“The construction industry has closed a strong first quarter in Hungary, which is the most immense of our markets, based on the feedback of operators in the sector. The expectations are still expressively positive in the facade insulation segment, besides the construction of new buildings, the growth of renovation sector might be an outstanding value which were supported by the state incentives started in summer, the extended family allowance program and the CSOK in the villages. The acquisition of T-Cell Plasztik Kft, realised in June 2019, has already assures the background for the dynamic growth of polystyrene sale in the peak season.” – said Dávid Tibor, Director of Masterplast Nyrt.

Among the manufacturing bases of Masterplast, the production in the glass fibre factory has increased with more than 15 percent and the manufacturing efficiency has continued to grow as well. “As a result of our investments, the technological developments were concluded without shortages. Besides the continuous growth of produced quantities, we except a rise in the market side as well,. Based on this, we count with significant growth in the turnover of glass fibre product segment. The stable product base of the regional subsidiaries and Western European export is assured by our own growing manufacturing background. In addition, the increased production means elevated manufacturing efficiency and effectiveness for the second semester which assures us to achieve our goal in annual turnover and operating result. ” – said Róbert Nádasi, CEO of Masterplast Nyrt.

The largest Hungarian owned manufacturing company has been continually expanding its co-workers team. By the end of the second quarter the Group employed 1027 people which means an expansion of nearly 100 people compared to the previous year.

Looking at the first semester, Masterplast Nyrt. achieved a turnover of EUR 50,58 which meant a 11-percent growth when compared to the year. After the first six month, the company has increased its profit by one fifth and closed the period of January-July with after-tax profit of EUR 2,06 million.