ZAGREB, February 23, 2018 - The AD Plastik Group generated 1.08 billion kuna in revenues in 2017, an increase of 16.15% over the previous year, the Solin-based plastic car parts manufacturer said in an unaudited interim financial statement on Friday.
Net profit jumped by as much as 37.3% to 68.2 million kuna and EBITDA increased by 15.8% to 157.4 million kuna as a result of increased production efficiency and cost rationalisation.
A considerable increase in car sales in Europe and the recovery of the Russian market have had a positive impact on revenue growth, but the continued strengthening of the kuna against the euro has been adversely affecting revenues in the last two years, the statement says.
The group's revenues rose by 13.96% on the EU and Serbian markets and by 22.77% on the Russian market. The revenues from the EU and Serbian markets accounted for 73.68% of total revenues and those from the Russian market made up the remaining 26.32%.
The group aims to boost growth on the European and Russian markets by increasing production and sales.
