Masterplast Profit Slips 3%
After-tax profit of listed Hungarian building materials maker Masterplast slipped 3% to EUR 15.646 million last year as margins narrowed, according to an earnings report published recently on the website of the Budapest Stock Exchange.
Revenue increased 5% to EUR 201.799 mln. Revenue from thermal insulation jumped 38% to EUR 106.635 mln, but turnover from industrial applications, which includes Masterplast's high-margin PPE business, fell 42% to EUR 25.353 mln, albeit from a high pandemic base.
The direct cost of sales climbed at a faster clip than revenue, rising 16% to EUR 171.204 mln.
Payroll costs increased 27% to EUR 27,131 mln. EBITDA dropped 11% to EUR 20.383 mln.
The bottom line was lifted by a EUR 2,561 mln financial gain.
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