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BUCHAREST (Romania) October 29 (SeeNews) - Romanian plastic products manufacturer TeraPlast Group [BSE:TRP] has increased its profit to 33.7 million lei ($7.9 million/7.1 million euro) in the first nine months of 2019, from 22.3 million lei profit in the same period of last year, it said on Tuesday.
The group's revenue rose 22% year-on-year to 719 million lei in the January-September period, it said in a statement filed with the Bucharest Stock Exchange, BVB.
TeraPlast Group`s EBITDA, the largest Romanian manufacturer of construction materials, rose by 29% in the first nine months of 2019, reaching 68.3 million lei.
The main contributors to this increase were TeraPlast and TeraPlast Recycling, with up to 50% increase in EBITDA compared to the same period of the last year.
"As a result of the construction market dynamics and the operational efficiency measures, the first nine months of the year reached the top in the Group`s history, in terms of both profitability and sales. We strengthened our market shares and we are determined to continue the development of future projects in pursuit of continued growth," TeraPlast Group CFO Ioana Birta said.
The best results among the group's companies in the first nine months of this year were posted by TeraPlast - Installation, Compounds & Window Profiles and TeraPlast Recycling, with an increase of 28% in revenue, up to 278.5 million lei. The efficient use of production capacities was the key driver of the improvement in the companies’ EBITDA, which rose by 49% year-on-year to 27.88 million lei.
TeraPlast Group product portfolio is structured on several business lines: installation, PVC joinery profiles, compounds, thermal insulating panels, windows, doors and metallic tiles.
The group expanded abroad in 2017, when it opened TeraSteel Serbia, the first Romanian privately-held production unit outside its home country since 1990.
TeraPlast Group shares traded 2.17% higher at 0.2830 lei as at 0937 CET on Tuesday on the BVB.
(1 euro=4.7569 lei)