“Net turnover was negatively impacted by the extreme weather conditions in the first two months, which delayed the beginning of the construction season. Because of this, sales of environment infrastructure systems, which make up the largest share of turnover, did not meet projections. The decline in infrastructure was compensated by exports, which made up almost a quarter of turnover, compared with 11% in 2011,” says a press release sent by the company Friday to the Bucharest stock exchange.
EBITDA stood at RON2.34 million, up 82.96% on the year, supported by a substantial increase in the price of raw materials.
The company’s receivables were reduced by 22.56% to RON46.79 million, while total debt dropped by 11%, to RON102.4 million. Teraplast’s staff was reduced from 455 to 406 employees in the first three months.
Teraplast expects turnover of RON246.33 million this year, up 17.6% from the RON209.35 million posted in 2011.
Teraplast is part of the Teraplast Bistrita Group, which also includes the subsidiaries Plastsistem, Politub, TeraGlass and Tera Tools.
Teraplast has a share capital of RON29.7 million, divided into 297.8 million shares with a face value of RON0.1. The company is 34.2% owned by Dorel Goia, while SIF Banat-Crisana (SIF1.RO) holds 11%. (EUR1=RON4.4265)