The company achieved remarkable sales growth with optimal construction sector conditions while healthcare personal protective wear sales continued. Total revenue is above 146 million HUF, which exceeds the 2020 totals. Compared to the first nine months of the 2020 record year, the net profit has tripled.
The high revenue results of the base year caused challenges as the results of the German acquisition already showed at this part of 2020. Then due to the pandemic, the healthcare industry, like a bolt from the blue, came into the company’s life and seriously impacted revenue and profitability. In this recent quarter, the economic situation of the construction sector gave more opportunities for the company. In Hungary and the European markets, the new-build housing and renovating segments were strong and resulted in significant demand for Masterplast products. The 50,7 million HUF revenue achieved in Q3 exceeds the base period by 35%. In this growth, the expansion and changes in raw material prices played a substantial role.
The company’s EBITDA results exceeded the base year by 50% and reached a total of 6,3 million euros. The net revenue doubled, and for the first time in the company’s existence, it went over 5 million euros in two consecutive quarters. The cumulated ratio nearly reached 10% in the first 9 months. After the first three quarters of the year, the total net profit tripled to more than 14 million Euros; therefore, the earnings per share (EPS) also tripled to 0,96 Euros.
Relying on its diversified supply sources and stable manufacturing background, the company ensured an adequate supply of goods even amidst great challenges. Having a significant amount of supplies come in handy strategically in hectic times like these. As production was manufactured with a high utilization capacity and improved productivity, supply shortages did not occur. Meanwhile, the Hungarian market was prioritized, and there was no need to introduce export restrictions either.
The company’s existing investments projects are going according to plan. From these, investments, healthcare raw materials, and the production of medical end products have been handed over. After successfully closing the production testing phase, the results of production might present themselves in the revenue of Q4. ,
During Q3, we achieved significant progress compared to a solid base year in an optimal market environment. We expect a similar growth as the strong construction sector conditions remain in the new-build housing and renovation segment. We will operate with excellent results in this vibrant business environment while relying on our stable supply chain and manufacturing background. We expect an equivalently strong, higher than base year revenue and profitability for the last quarter, ensuring that the figures published in September are met. Meanwhile, we are working in full swing on our medium-term strategy, which provides dynamic and sustainable development. The updated strategy will be presented at the investors’ event in January 2022. – added Dávid Tibor, CEO of Masterplast
Masterplast Nyrt.
Founded in 1997, the Masterplast group is one of the leading building material producer and distributor companies in the Central Eastern European region. The company group owns subsidiaries in 10 countries, and sells products in a further 30 countries. The company is registered in the premium category on the Budapest Stock Exchange, and had revenue of 145,2 million euros in 2023.