Masterplast already reached its yearly plan of progress by the end of September

In the third quarter, Masterplast Group achieved a consolidated turnover of EUR 31,408 million which meant a 11-percent increase compared to the period considered. At the company, the commercial cross margin has also increased parallel to the expansion of turnover.

Among the markets of Masterplast with the largest importance, the expansion was 32 percent in Hungary where the advancement in the facade insulation system played a leading role. Besides the slow down of the new constructions, the renovation sector has opened new opportunities in the market.

Having regard to the regional markets, the turnover expanded with 14 percent in Romania, where the state aids triggered building insulation projects. The activity in the building history has broadened to an appreciable extent which contributed to the 5-percent expansion measured in this region. The performance reached on the market with a declining turnover was mainly caused by the unusual single supplies.

Among the product categories, the sales of products related to facade insulation systems have increased in the largest amount, and an immense increase can be observed in the EPS and glass fiber products. Substantial increase can be observed in the industrial application due to the raw material business.

The company has reached full staff number in its fabrication plants. As a result, the Group employed 1,114 staff members at the end September, compared to the personnel of last year which consisted 923 members.

The efficiency and emission of glass fiber continued to increase and reached its complete utilization by the end of the quarter. The Serbian EPS emission has also continued to increase due to the suction power of the Hungarian market. Although, the run up of foam foil investment in Kál was slower than the expected, and influenced negatively the efficiency of the company.

As a result of the augmented turnover and more effective production and operation, the operational result of the company has significantly increased. The amount of EBITDA reached in the quarter was 2,652 thousand euro which meant a 8,4-percent EBITDA margin, meaning an expansion of 21-percent. The financial result of the Group has also immensely broadened, contributed to the 80-percent post-tax expansion in the third quarter.  The overall post-tax profit was EUR 4,159,000 which expanded the estimated EUR 4 million annual objective targeted for 2019 at the end of September.

Masterplast takes part in the Growth Debenture Program launched by the HNB (Hungarian National Bank). Within this framework, the company plans to issue bonds in the value of HUF 6,0 billion in December 2019. The Group wishes to utilize the resource to optimize the financial structure.

“Besides the expectedly positive closing, we are optimistic to the period of 2020-21. Is compensated by the recovery of the renovation industry and the effect of the family allowance program authorized in villages. Our European level development is provided by, besides our stable demand, the expansion of our production capacity and efficiency. I believe, we will reach new heights both in turnover and efficiency in the upcoming years.” – said Dávid Tibor, CEO of Masterplast.