Masterplast's earnings fall on Ukraine write-off

Telco

Hungarian building materials manufacturer Masterplast's net income decreased by 38%, down to €749,000, last year, an earnings report published late yesterday reveals. 

Excluding a write-off related to an investment in Ukraine, after-tax profit would have reached €1.6 mln, Masterplast said. Revenue was flat at €81.6 mln. Direct cost of sales edged down 1% to €69.2 mln. Operating profit fell 1% to €2.7 mln.

The company's EBITDA in Q4 was at €617,000, which shows a growth of 59% as compared to the €388,000 in the base period. With this growth, the company was able to close last year with with an EBITDA of 6.1%, exceeding the targeted 6%. Masterplast foresees an EBITDA of 8% for 2016.

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