Croatian AD Plastik Earns 826 Million Kuna Revenue in 2022

Lauren Simmonds

Updated on:

As Marija Brnic/Poslovni Dnevnik writes, according to all announcements, the crisis with the shortage of semiconductors is gradually coming to an end and it is expected that it should end by the end of this year, at least according to Marinko Dosen, the CEO of the Croatian AD Plastik company. Issues following sanctions against Russia owing to their horrific invasion of neighbouring Ukraine have caused issues for just about every company, and AD Plastik hasn’t been immune.

The group’s operating income fell by 26.6% compared to 2021, to 826 million kuna. Normalised EBITDA amounted to 0.94 million kuna and was also lower by a staggering 99.3%, and with the adjustment values included, the net loss at the group level amounts to almost 80 million kuna in total.

The Croatian AD Plastik company’s problems go hand in hand with current geopolitical ones and war in Europe. It has two factories in Russia, which stopped production after their main customers left Russia after the beginning of the aggression against Ukraine in February 2022. In the meantime, production did manage to be established in one of them, but with very significantly reduced capacities.

Back in pandemic-dominated 2021, which wasn’t either for most business either, 27% of a grand total of 1.23 billion kuna in revenue was generated in Russia, while in 2022, that share fell to around 14%, with revenue on the EU and Serbian markets falling to 14%, and in Russia – by 61%. The Croatian AD Plastik company therefore focused almost entirely on the European market, and 205 million euros worth of work was contracted in 2022, mostly for Stellantis, with the start of serial production for most of the contracts set for 2024.

The positive thing for the Croatian AD Plastik company’s report is the associated company EAPS from nearby Romania, in which it holds 50 percent ownership, and which, thanks to the business it contracted with Dacia Duster, achieved an increase in revenue of 35% (standing at 725 million kuna) and profits of 150% (76 million kuna).

For more, check out our dedicated business section.


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