Masterplast projects marked sales, profit growth

Manufacturing

Hungary's Masterplast, a listed company that makes building materials and textiles used to make personal protective equipment, projects annual sales will reach EUR 215 million this year, climbing from an estimated EUR 190.3 mln in 2021, state news wire MTI reports.

Masterplast forecasts revenue will reach EUR 255 million in 2023 and EUR 305 mln in 2024. It sees after-tax profit increasing from an estimated EUR 15.4 mln in 2021 to EUR 16.5 mln in 2022, EUR 21 mln in 2023, and EUR 26.5 mln in 2024.

It pins those forecasts on strong growth in the insulation sector, a scale-up of production of medical raw materials and finished products, expanding manufacturing capacity of fiberglass mesh, the start of production of extruded polystyrene (XPS) insulation, and the launch of a modular architecture business.

The investor presentation shows Masterplast expects to pay a HUF 55-per-share dividend on 2021 earnings, up from HUF 44 per share paid a year earlier. 

Adopting a policy of paying half of after-tax profit as dividend - also depending on industry environment, future investments and working capital requirements - Masterplast projects it could pay dividend per share of HUF 66 on 2022 earnings, HUF 77 on 2023 earnings, and HUF 88 on 2024 earnings.

Detailing its entry into the modular architecture market, Masterplast said it aims to set up its first modular plant in the area of Székesfehérvár and start production by the end of 2022. It targets the production of 500 building modules in the first year, generating sales of EUR 10 mln in 2023.

 Masterplast said its network of suppliers, its own manufacturing background and expertise, and capitalization give it "a significant competitive advantage" in the segment.

Masterplast said construction of a EUR 14 mln XPS plant it is building in Subotica, Serbia, is progressing "according to plan" and will start production in 2023.

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