Croatian AD Plastik Contracts 31.2 Million Euro Job with Stellantis

Lauren Simmonds

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As Poslovni Dnevnik writes, the Croatian AD Plastik revealed last week that it has contracted new jobs for the European market worth a huge 31.2 million euros in total.

“The AD Plastik Grupa (Group) has contracted new business with the buyer Stellantis for the European market, with expected revenues of 31.2 million euros and an expected duration of the project of seven years,” reads the statement according to a short announcement on the Zagreb Stock Exchange.

This is already the third significant deal the Croatian AD Plastik company has managed to contract with the French-Italian automotive group during this year alone. It’s worth noting that back in March this year, the Croatian AD Plastik company reported on a deal contracted with Stellantis worth 71.5 million euros, and at the end of June, it did the same with a contract worth an even higher 85.9 million euros.

On Wednesday last week, the Croatian AD Plastik Grupa reported on its business results for the first half of this year, in which a net loss of 59.46 million kuna was recorded. This loss includes value adjustments in the amount of 75 million kuna made on the basis of an assessment of the recoverability of the assets of the Russian companies of the group, which is of course something which required an overhaul following the Russian invasion of Ukraine and all of the sanctions placed on the country as a result.

The Group’s operating income amounted to 433.09 million kuna, which is 30.4 percent less, and the normalised EBITDA of 18.58 million kuna is a significant 77.5 percent lower.

In the report from AD Plastik Grupa, they stated that the half-year results of the group’s operations were largely characterised by geopolitical events and the consequences of the semiconductor shortage crisis on the market.

For more, make sure to check out our dedicated business section.


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