“The results in the first three months of 2022 are positive, considering the difficult market due to the war in Ukraine and inflation. The revenue overshot the all-time high of 2021, when Promateris posted overall growth of 61% year-on-year,” said Tudor Georgescu, CEO of Promateris.
The net profit decreased by 39% on the year-ago period due to the state of the economy, which led to the abrupt rise in interest rates, he added.
Promateris is a leading manufacturer of biodegradable and compostable packaging in Central and Eastern Europe.
(English version by Loredana Fratila-Cristescu)