Masterplast upgrades guidance
Listed Hungarian building materials maker Masterplast on Tuesday upgraded guidance for 2021 amid "outstanding growth" in demand.
Masterplast now forecasts after-tax profit of around EUR 15.1 million for 2021, up from a projection of about EUR 10.1 mln published in January. It raised the full-year revenue forecast to around EUR 190 mln from about EUR 151 mln.
The company said its development in the first eight months of the year "was significantly supported by the outstanding growth in demand in the building materials market and the performance of the dynamically developing healthcare industry".
Masterplast had first-half net income of EUR 9,054,000, swelling from EUR 2,100,000 in the base period, supported by an increase in turnover from its higher-margin personal protective equipment business, which the company entered last year ahead of the second wave of the pandemic.
In its H1 earnings report, released in August, Masterplast said it still expects a "turbulent" raw materials market, but added that "its strong market and production positions ensure a high level of exploitation of the opportunities provided by demand". Masterplast noted that export restrictions introduced by the government to curb the price of construction materials do not affect the range of products it makes and sells.
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