“Operating margins, although down from the same period last year, are a significant improvement over the last quarter (fourth quarter of 2021). This proves the resilience of the group’s operations in view of the radical change in the economic context in the first quarter of 2022 compared with the previous year,” TeraPlast Bistrita says in its report.
The monthly trend shows an acceleration of operating margins in March compared with January and February with a good outlook for the coming quarters, the report ads.
The revenue increased in part because of the start of production in new facilities, following the investments made.
The decrease compared with the record profit of the first quarter of 2021 was generated by a relative reduction to the margin in the Installations segment and a negative result of the flexible packaging division. However, the decline was partially offset by the accelerated growth in sales, close to the absolute quarterly record of the third quarter of 2021 (less by only 4%) and the improvement in margins compared with the fourth quarter of 2021.
The flexible packaging division, which also includes biodegradable packaging, is one of the new segments in the group, which still bears the costs of commissioning and streamlining the assets from mergers and acquisitions.
(English version by Loredana Fratila-Cristescu)