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Croatia's AD Plastik cons net profit grows 10% in 2019

Croatia's AD Plastik cons net profit grows 10% in 2019 AD Plastik factory; Source: AD Plastik

ZAGREB (Croatia), February 18 (SeeNews) - Croatian manufacturer of plastic products for the automotive industry AD Plastik [ZSE:ADPL-R-A] said on Tuesday its consolidated net profit rose 10.43% year-on-year in 2019, reaching 98.63 million kuna ($14.35 million/13.25 million euro).

"Despite all the challenges on the automotive market, the results show us the correctness of our vision, strategy and business decisions," management board chairman, Marinko Dosen, said in a filing to the Zagreb Stock Exchange (ZSE).

The company's operating income increased by 17.1% to 1.5 billion kuna last year, while its EBITDA rose 20.44% to 194.78 million kuna.

The revenue of the group on the market of EU and Serbia grew by 25.2% last year, reaching 1.23 billion kuna.

Revenue on the Russian market decreased by 6% year-on-year in the period under review, mainly due to significantly higher revenue generated from the sales of tools in 2018. 

The group's capital expenditure increased by 42.3% to 163.55 million kuna in 2019. 

AD Plastik's shares traded 0.51% higher at 197 kuna by 0941 CET on Tuesday on the ZSE. 

(1 euro = 7.44233 kuna)