Strong demand for building materials lifts Masterplast earnings

Manufacturing

Third-quarter net income of listed Hungarian building materials maker Masterplast rose 138% year-on-year to EUR 5,018,000, boosted by strong market demand in its core business and higher sales of the non-core PPE business, news agency MTI says, citing an earnings report published ahead of the opening bell on Thursday.

Revenue climbed 35% to EUR 50,695,000. Sales of thermal insulation increased 36% to EUR 21,715,000, and turnover of nearly all of Masterplast's other building industry products rose in the double digits. Sales of "industrial application", which include Masterplast's PPE business, jumped 73% to EUR 8,789,000.

Masterplast entered the personal protective equipment business last year, ahead of the second wave of the pandemic, with the acquisition of a German fleece maker with business partners in both the construction and the healthcare industries.

Earnings per share came to EUR 0.37 for the quarter.

Masterplast acknowledged "supply chain difficulties", paired with "favorable construction demand" on the market in Q3, but said it managed "to deliver outstanding performance by taking advantage of reliance on its own stable supply chains, efficient inventory management, and strong market position". 

The company said it expects a "similar business environment" in Q4 and forecasts "significantly higher turnover and profit generation" compared to the base period, reaffirming updated guidance issued in September.

Masterplast upgraded its guidance for 2021 after-tax profit to around EUR 15.1 million in September.

Hungary Signs HUF 6 bln Tied Aid Deal With Kenya Analysis

Hungary Signs HUF 6 bln Tied Aid Deal With Kenya

Moldovan Pensions to be Increased as of April 1 World

Moldovan Pensions to be Increased as of April 1

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic... Appointments

Schoenherr Names Miklós Klenanc as Head of Local M&A Practic...

Hungarian Wine Marketing Agency to Host Summit Drinks

Hungarian Wine Marketing Agency to Host Summit

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.