Its operating EBITDA grew 20% on the year to RON12.5 million in January-September 2021.
”The biggest challenge for 2021 was the cost and the availability of the raw material ( plastic granules ). Since the beginning of 2021, the cost of the plastic granules has increased drastically not only as unit price, but also as speed of the increase. Another critical issue was market availability of the plastic granule that has never been so unstable before”, the company said in its financial report.
Romcarbon Group reported a 28% surge in sales on the year to RON247 million and its net profit soared by 124% on the year to RON5.6 million in January-September 2021.
The main impact, besides Romcarbon’ standalone result, is from Livingjumbo Industry SA – registered losses of (2,045,373) lei, while it was profit 1,279,703 lei for the same period of 2020. The cause for the loss is from PET tray activity due to drastic changes in the market and the difficulty of adjusting sales prices to reflect the increase of the raw material price.
Romcarbon Group is made up of Romcarbon SA, Livingjumbo Industry SA, RC Energo Install SRL, Infotech Solutions SRL, Recyplat Ltd Cyprus and Eco Pack Management SA. The Group’s main companies engrossed in manufacturing activities are Romcarbon SA and Livingjumbo Industry SA, owning 71% and 14% respectively of the total fixed assets.
Romcarbon SA holds an ownership stake of 17.59% in Romgreen Universal LTD (Green-Group), the leading integrated recycler in Southeast Europe.
The company is 32.85% held by Living Plastic Industry Buzau, while Cyprus-based Joyful River Limited owns a 20.5% stake.
Romcarbon has a stock market capitalization of RON72 million and its shares have been trading up 80% in 2021.