Successful Quarter at the Masterplast Group

Masterplast Group, the largest Hungarian-owned building materials manufacturing company in the Central European region, published its Q3 quarterly report on the website of the Budapest Stock Exchange. The report states that during the summer months, the construction market was characterised by subdued activity, similar to previous periods, followed by a marked recovery in September.

The growth was driven by the strengthening of the construction cycle in the Central European region and the acceleration of the EKR programmes in the Hungarian market. In the reporting period, Masterplast’s revenue increased by 25% compared to the same period of the previous year, accompanied by a notable improvement in production capacity utilization.

In the third quarter, EBITDA reached EUR 3,429,000, compared to EUR 1,500,000 in the previous year, indicating a substantial strengthening in the Company’s profitability. Exchange rate movements, however, had an adverse effect on financial results, and the Company closed the period with a net loss of EUR 529,000, which nevertheless represents an improvement over the EUR 1,291,000 loss recorded a year earlier.

Excluding the impact of associated companies, Masterplast’s profit before tax was already positive. The losses of associated companies mainly reflected start-up phase expenses related to the glass wool factory, which affected the consolidated figures. As a result of the successful quarter, the Company’s cash position increased significantly, providing sufficient coverage not only for operational financing needs but also for the bond repayment due in the fourth quarter. Based on the current order portfolio, the favourable trend observed in September is expected to continue in the upcoming periods, with the final quarter of the year projected to be the strongest in terms of both revenue and profitability.