Overall, financial profit reached almost €1 mln, compared to a more than €600,000 loss in the base period. To avoid further losses on the Ukrainian currencyʼs depreciation, Masterplast borrowed the equivalent of $1.2 mln in UAH at the end of 2014, which was used to reduce FX debt in Q1, it noted. Sales revenue edged up 1% to €14.9 mln.
Sales in Croatia, Ukraine, Slovakia and Poland fell between 9% and 17%, but the decline was offset by 14% growth in Hungary and a 9% increase in Romania. Cost of sales was almost flat at €12.7 mln. Payroll costs edged down 2% to €1.9 mln. Headcount was little changed at 629. EBITDA doubled to a little more than €400,000, largely because of changes to inventories.
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