“The organic growth in the first nine months of the year shows that our group can adapt, find solutions and perform even in the difficult context of 2020. We could have increased more but we were limited by the production capacities for several main product groups,” said Ioana Birta, TeraPlast Group CFO.
“The need to increase production capacity is one of the reasons we are planning investments of over EUR20 million. We have submitted the first investment project, of EUR7.9 million, within the state aid scheme. In the coming period we will submit three other investment projects to increase our production capacities and develop new products,” Birta added.
The group posted an operating profit of RON99 million in the first nine months, up 46% on the year.
TeraPlast SA, the group’s main and biggest company, posted 15% growth in turnover, to RON321.6 million, and its operating profit grew 94%, to nearly RON54 million.
The TeraGlass division was the only one to record a decline as its operating profit dropped 35% in the first nine months,t o around RON1 million.