The company’s consolidated and audited report has been accepted, which shows no significant difference compared to the previously issued flash report. During the assembly, Masterplast also decided on dividends, which stayed at 55Forints, the same value as forecasted at the investors’ conference in January.
Masterplast had a total revenue of 191,5 million euros with an EBITDA of 22,8 million euros and a net profit of 16,1 million euros. As a result of the above, profit on one bond has increased from 0,4 euros in 2020 to 1,10 euros in 2021. Dividends will be paid on 10th October 2022, with the ex-dividend date on the 3rd October 2022.
During the assembly, members decided on a new board of directors. The newly elected external member is Bálint Fazekas. The 28 years old businessman has international experience, owns Dyras Europe Ltd, and is the commercial director of Euronics Hungary Ltd, a leading international electric retail group run as a family business. Bálint finished his extensive studies in prestigious schools in London and Budapest and is an expert in data-based information and communication technology. With his dynamic personality, this young businessman will support Masterplast’s development and digital aspirations.
After the assembly, the directors decided on a new green field investment. The Hungarian manufacturer will establish its new polystyrol insulation material production plant in Reggio Emilia county in Italy, which is close to the headquarters of the company’s new subsidiary. The highly automated new plant is expected to have an output of 300,000 m3 per year and hopefully start production by the first half of 2023. Before deciding on this investment, the company considered several other acquisitions, but these were ruled out due to overpricing issues.
With this new production development, we are taking important steps towards our business plans in Italy. We see great potential in the Italian thermal insulation market, which we can exploit by expanding our local manufacturing capabilities. The new plant will provide dynamic growth in Italy, which could quickly become the company’s most significant market. – suggested Dávid Tibor, CEO of Masterplast.
Masterplast Nyrt.
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.