The company’s EBIDTA result was 975 thousand euros in the last three months of last year, which meant a 180 percent growth when reckoned over the year. The spectacular development was partly caused by a fall in operating expenses, and on an annual basis the successful sale of a number of tangible assets at the end of last year also played a role. Masterplast Nyrt. achieved an after-tax result of 724 thousand euros in the fourth quarter of 2017, which is an order of magnitude improvement compared with the 123 thousand euro loss of the previous year.
In the final quarter of last year the output of the Subotica EPS plant rose significantly, those of the Kál fibreglass mesh works and the Sfântu Gheorghe EPS plant to a lesser extent, whilst the production result of the Subotica fibreglass mesh works exceeded the planned amount. The expanding output was coupled with more efficient production, which contributed to the firm’s improving result with a rising manufacturing margin.
The excellent end of year results also played an important role in the company’s fulfilling the plans formulated for 2017. Masterplast Nyrt.’s income for last year was 89.6 million euros, which meant a 12 percent growth compared with one year earlier. The company’s profit expanded to an even greater extent, the after-tax result of 2.7 million euros exceeded the 2016 figure by 17 percent.
“On the whole, we were working in a favourable business environment last year. The outstanding Hungarian growth even exceeded regional Masterplast performance in the V4 countries. We are counting on maintaining this positive trend in 2018, which may be accompanied by a dynamic expansion of exports” – said Dávid Tibor, president of Masterplast Nyrt. “In accordance with our strategy updated last year, we are paying particular attention to increasing production efficiency and to more effective operation. The effects of this are already perceptible in our figures for the final quarter, which lay the groundwork for the good result expected for the present year” – pointed out Dávid Tibor.
The goal of Masterplast Nyrt. is to become the region’s key manufacturing and distributor company on the market for products related to insulation solutions by the end of the decade. “By 2020 we are counting on a 110 million euro income and an EBITDA margin above 7.5 percent. Besides the further development of traditional construction industry sales, we also attach significant hopes to our new, industrial division. The additional Subotica investment of close to 6.7 million euros announced last autumn partly serves the goal of offering products to segments which are not closely linked with the construction industry” – added the president of Masterplast Nyrt.
In recent years, Masterplast has made significant investments in its Subotica site. Together with the latest development announced last year and completed this year, a total of 15.1 million euros have been dedicated to increasing the manufacturing capacity and production efficiency there. As a result of the considerable investments, the headcount of workers at the company has grown significantly, the company employed 934 persons at the end of December 2017 in contrast to 800 one year earlier.
Founded in 1997, the Masterplast group is one of the leading building material producer and distributor companies in the Central Eastern European region. The company group owns subsidiaries in 10 countries, and sells products in a further 30 countries. The company is registered in the premium category on the Budapest Stock Exchange, and had revenue of 201,8 million euros in 2022.