February 23 (SeeNews) - Croatian plastic products manufacturer AD Plastik [ZSE:ADPL-R-A] said on Friday its consolidated net profit grew 37.3% last year, reaching 68.24 million kuna ($11.3 million/9.2 million euro).
In 2017, AD Plastik achieved "one of the best results in the last ten years of business", Marinko Dosen, president of the management board, said in a filing to the Zagreb bourse.
The company's operating income added 16.15% year-on-year to 1.1 billion kuna in 2017, while its EBITDA increased 15.84% to 157.4 million kuna, AD Plastik said in a filing to the Zagreb bourse.
The significant rise in vehicle sales in Europe and the recovery of the Russian market boosted the revenue of AD Plastic last year, the company explained.
The revenue of the group on the market of EU and Serbia increased by 13.96% due to the rise in sales on the automotive segment and the start of mass production under long-term contracts. Revenue on the Russian market added 22.77%, mainly on the back of growth in sales of key vehicle brandss for which AD Plastik supplies components.
Looking ahead, the company said its overall growth is its priority and will be achieved by the planned increase of production and sales on the European and Russian automotive markets.
AD Plastik is a Croatian manufacturer of car parts and plastic products.
(euro=7.44219 kuna)