In parallel, net profit generated in January-September neared RON16.4 million, down 62% from the exceptional result registered last year, RON43.2 million.
EBITDA for the three quarters reached RON48.5 million, 25% lower than in the year-earlier period, while EBITDA margin, of 8.6%, is slightly lower from the first half of the year on the challenging macroeconomic context of 2022.
„The results still bear the imprint of the volatile context we are going through, and which presents uncertainties for the next period. Even in such a climate, we managed to maintain the Group’s performance at a satisfactory level. The record growth we experienced in previous years has moderated, but through effective management and prompt response to difficulties, we maintain the resilience of the Group to deliver performance in line with the great economic challenges at hand,” stated Ioana Birta, chief financial director of the TeraPlast Group.
Export volumes rose by 51% in the first nine months against the same period of 2021 and the weight in total turnover climbed to 16% from 13% in January-September 2021.
„The challenges remain constant and even if we see some improvements, such as the supply chains or the prices of raw materials, new tensions arrise like the energy crisis or restrictive monetary policies”, added Ioana Birta.
“Unfortunately, we cannot change such a trajectory by ourselves. Therefore, we are focusing on consolidating market share and on the opportunities that arise during this period. We see both increased dynamism in the M&A area and increased interest from foreign markets in our products. We are not abandoning any significant investment plans because we want to be in a position to make the most of the next wave of economic activity when the waters settle.”
TeraPlast has a RON1.19 billion market value. After soaring by 181% in 2021, the company’s shares have dropped by 44% this year, amid RON200 million deals.
(English version by Catalina Apostoiu)