Promateris estimates a net profit of EUR 4.3 million

Deniza Cristian 10/03/2022 | 12:37

Promateris (BVB: PPL), a Romanian industrial group and leader in Central and Eastern Europe in the production of biodegradable and compostable packaging, estimates for 2022 revenues of 47.7 million euro, EBITDA of 7.3 million euro and a net profit of 4.3 million. The revenue and expense budget will be subject to approval by the General Meeting of the Shareholders, which will take place on April 27, 2022. 

 

“In 2022, we will continue the accelerated growth we registered in the last years. Therefore, we are considering investments in biomaterials to strengthen our leading position in the Central and Eastern European region by developing biodegradable and compostable packaging production capacity at the Buftea factory. At the same time, we intend to start the production of raw material based on corn starch, intended for the production of compostable packaging. With the launch of this business line, Promateris will be the first company in Eastern Europe to produce raw materials based on corn starch. In the transition to a green economy, our main goal is to develop our presence in the regional markets and reach a turnover of 100 million euros by 2025,” stated Tudor Georgescu, CEO of Promateris. 

In terms of production capacity for biodegradable and compostable packaging, Promateris has invested in state-of-the-art equipment, increasing production capacity by 36% in 2021 compared to 2020. The company has managed to reduce its carbon footprint by recycling more than 1,000 tons of industrial waste from the production of biodegradable packaging, process enabled by the recycling line installed at the premises. This year, Promateris will continue to invest in developing bioplastics capacity to strengthen its position as a regional leader and in vertical integration by starting the production of bio-based compounds. 

In 2022, the company aims to access new markets in the region and strengthen its position in the key EEC markets in which it operates. At the same time, Promateris seeks to diversify the product portfolio that complies with the principles of the circular economy by providing a wide range of products and services dedicated to the modern retail sector. Promateris products are currently used by most local and international retailers operating in the region. 

Promateris’ plans for the current year will also focus on intensifying the M&A activity to develop the group’s portfolio of companies. Promateris is considering acquiring local or regional companies with a green component that can generate high added value and support the creation of group synergies. 

In 2021, Promateris registered a consolidated turnover of 37.8 million euros, up 62% compared to the previous year. The group, which includes the distribution company Biodeck, recorded a consolidated EBITDA of over 6 million euros, 129% more compared to 2020. At the same time, the company recorded a net profit of 3.7 million euros, an increase of 405 % compared to 2020.  

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Deniza Cristian | 29/11/2022 | 10:17

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