March 23 (SeeNews) - Romanian plastic products manufacturer TeraPlast SA [BSE:TRP] has entered the Bucharest Stock Exchange's (BVB) BET and BET-TR indices, BVB said on Monday.
TeraPlast thus becomes the 17th company included in the BET index, the BVB said in a press release.
TeraPlast was listed on the BVB in July 2008.
"The inclusion of TeraPlast company in BET and BET-TR indices comes to complement and better represent the sectors on the stock exchange. From the point of view of the investors, either institutional or retail, the sectorial diversification is an essential element in the investment strategy”, BVB CEO Adrian Tanase said.
BET is the first index launched by BVB and includes the most traded companies listed on the local stock exchange, except for the Financial Investment Companies, while BET-TR also includes the dividends distributed by the companies from the BET index.
"We are living in a time when good news is scarce in financial markets. Nevertheless, we are determined to continue to serve the interests of our shareholders and potential investors, proving that we are a stable, attractive, and liquid company that they can trust," TeraPlast general manager Alexandru Stanean said.
TeraPlast SA is part of the TeraPlast Group, which is currently the largest Romanian producer of construction materials. The group comprises of the following companies: TeraPlast, TeraSteel Romania & Serbia, Wetterbest, TeraGlass, TeraPlast Hungary.
For 2020, the TeraPlast Group forecasts turnover of 1.25 billion lei ($277 million/258 million euro), up 29% compared to 2019, and expects EBITDA of over 145 million lei.
"We have the necessary resources to reach our objectives for 2020, and the first months of this year are within the forecast parameters. We are seasoned in handling crisis situations like the one we are currently experiencing because we had experienced another crisis 12 years ago. If all non-food plants do not shut down, following the Italian approach, we are confident we will emerge stronger," Stanean added.
(1 euro=4.8444 lei)