Masterplast forecasts a drop in revenue to EUR 175 million in 2023 from EUR 201.8 mln in 2022. It sees after-tax profit falling to EUR 1 million from EUR 15.7 mln.
It noted low demand, intensifying competition, and narrowing margins in an assessment of the situation.
It added that the negative impact of raw materials purchased at high prices could be felt until the end of Q2 2023.
Masterplast said it expects its business to be loss-making in H1 but augured an improvement in H2.
It also acknowledged a "significantly higher" final budget for the mineral wool production investments it is making.
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