The company's consolidated turnover increased by an annual 20% to 176.8 million lei in the first trimester of the year, it said in a financial report filed with the Bucharest Stock Exchange on Wednesday.
In the first three months of 2024, the group's earnings before interest, tax, depreciation, and amortisation (EBITDA) climbed by 32% on the year to 11.9 million lei.
"TeraPlast Group’s results in the first quarter of 2024 exceed both the budget and the previous year's performance, driven by streamlining the activities in each business line and organic growth alike. Positive contributions to the Group's results were brought by the start of production at the Opal stretch film factory and the integration of Palplast's operations in the Republic of Moldova, the recently acquired company," the company explained. In December, TeraPlast said it acquired a majority stake in Moldovan pipe manufacturer Palplast for 1.8 million euro.
The group's main business line, related to installations, saw an annual 19% increase in turnover to 121.9 million lei during the first three months of the year, while the compounds business line remained almost flat at 20.5 million lei. The flexible packaging business line saw its turnover surge by 102% year-on-year to 24 million lei thanks to the operationalization of the group's new stretch film factory, whereas the turnover generated by the windows and doors business line declined by 16% to 10.4 million lei.
Total assets stood at 868.9 million lei at the end of March, up from 754.8 million lei at end-2023. Total debts climbed to 555.96 million lei in the first quarter from 442.14 million lei at the end of last year.
TeraPlast Group is a major polymer processor in Central and Eastern Europe. The group includes parent company TeraPlast, as well as subsidiaries TeraGlass, TeraPlast Recycling, TeraBio Pack and Somplast.
Blue-chip TeraPlast's shares traded 0.89% higher at 0.568 lei as of 0917 CET on Thursday on the main market of the Bucharest Stock Exchange.
Jul 5, 2024
