Inventory Revaluation, FX Loss Put Masterplast in Red
Listed building materials maker Masterplast booked a net loss of EUR 15.7 million in 2023, practically level with its profit in 2022, an earnings report released ahead of the opening bell on Thursday.
Revenue fell 28% to EUR 145.2 mln.
Masterplast had an operating loss of EUR 12.5 mln, after a EUR 5 mln inventory write-down.
A EUR 4.5 mln financial loss, compared to a EUR 2.5 mln financial gain in the base period, also weighed on the bottom line.
Masterplast said it expected a "moderate" construction environment in 2024, adding that its restructured, more efficient organization should produce positive operating results. It added that market stimulus support programs could further enhance profit-generating capacity.
Masterplast said its strong cash position and extended credit facilities would ensure stable operations and growth on the financing side and enable a turnaround in profitability.
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