Masterplast achieved a net profit of over 16 million EUR

During the winter season, the company managed to work within a vivid industrial environment as the demand for thermal insulation and dry construction products related to the energy efficiency of buildings was great in the European markets. The most significant market segment of the company achieved a 54% increase, while on export, a 63% turnover growth materialized. This pronounced increase is due to the rise in energy prices and a signifact amount of company expansions. Medical sector sales have been low in the last quarter, which due to the base effect, causes the performance indicator to show lower values. 

Overall in Q4 2021, revenue increased by 39%, while EBITDA reached a 23% higher value, meaning 633,000 euros more, compared to previous results of the same period. In the closing quarter, interest results related to bond issuances showed deterioration; however, due to favourable exchange rates, the financial operations resulted in significant profits compared to last year. 

Masterplast reached 191,5 million euros worth of revenue, with a 22,8 million euro EBITDA and a net profit of 16,1 million euros. On an overall yearly basis, the company’s primary performance indicators rose to a record level. As a result of the above, turnover on one bond has increased from 0,4 euros in 2020 to 1,10 euros in 2021. 

At favourable market conditions, construction and insulation industry production also operated at full capacity in the last quarter. The XPS insulation and glass fiber production development in Subotica is going according to plan. Glass fiber production will hopefully start in 2022, while XPS insulation material production is planned to launch in 2023. The production of medical raw materials and final medical product investments handed over in 2021 is still in the trial period, and after creating the final product portfolio and manufacturing is harmonized, production can increase to a higher level.   

„We had an outstanding year last year as the company’s performance stabilized, which allows further growth. Demand for insulation materials is constant as tighter building energy efficiency policies are issued by the European climate policies and as a result of government schemes. Our other assets, like medical and modular divisions, broaden our opportunities in future industries. Our present and in-progress investments provide a strong background, which we can always expand with green investments and acquisitions. Our business outlook is good, which is luckily not affected by the Ukrainian-Russian war situation as this region has no significant value in the company’s performance. With all these aspects, we can confidently look forward to a successful 2024 with a forecasted 300 million euros revenue and a net profit of 26 million euros – suggested Dávid Tibor, CEO of Materplast.”