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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

The Capital Markets News section is sponsored by the Bucharest Stock Exchange 

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Romanian bio packaging producer reports 60% turnover growth in H1

Romanian industrial group Promateris (PPL), a leading CEE producer of biodegradable and compostable packaging, recorded a consolidated turnover of EUR 17 million in the first six months of 2021, 60% higher compared with the same period of last year.

The group, which also includes packaging distribution company Biodeck, reported a consolidated EBITDA of over EUR 2.8 million, more than double compared to the first half of 2020. The net profit went up by 166% to EUR 1.9 mln.

The positive financial results recorded by the company in the first six months were primarily generated by the expansion of the production of biodegradable and compostable packaging.

“Our goal is to develop innovative products that have a low impact on the environment. The financial results for the first half of the year are in line with our expectations and motivate us to continue to make progress towards sustainability and innovation,” said Tudor Georgescu, CEO of Promateris.

For the whole year, Promateris targets a turnover of EUR 40 million.

Promateris has made several investments in developing the production capacity of compostable packaging and the production of biodegradable and compostable raw material made from corn starch and says it will become the first company in Eastern Europe to produce raw material based on corn starch.

Both projects are carried out with the support of grants awarded by Iceland, Liechtenstein, and Norway through the EEA and Norwegian financial mechanisms 2014-2021, within the “SMEs Growth Romania” program. The total value of the projects is EUR 4 million.

The PPL stock price jumped by 15% on Wednesday, September 1, after the company released its first-half results. Year-to-date, the shares have gained 48%.

(Photo courtesy of the company)

andrei@romania-insider.com

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

The Capital Markets News section is sponsored by the Bucharest Stock Exchange 

BVB

 

Romanian bio packaging producer reports 60% turnover growth in H1

Romanian industrial group Promateris (PPL), a leading CEE producer of biodegradable and compostable packaging, recorded a consolidated turnover of EUR 17 million in the first six months of 2021, 60% higher compared with the same period of last year.

The group, which also includes packaging distribution company Biodeck, reported a consolidated EBITDA of over EUR 2.8 million, more than double compared to the first half of 2020. The net profit went up by 166% to EUR 1.9 mln.

The positive financial results recorded by the company in the first six months were primarily generated by the expansion of the production of biodegradable and compostable packaging.

“Our goal is to develop innovative products that have a low impact on the environment. The financial results for the first half of the year are in line with our expectations and motivate us to continue to make progress towards sustainability and innovation,” said Tudor Georgescu, CEO of Promateris.

For the whole year, Promateris targets a turnover of EUR 40 million.

Promateris has made several investments in developing the production capacity of compostable packaging and the production of biodegradable and compostable raw material made from corn starch and says it will become the first company in Eastern Europe to produce raw material based on corn starch.

Both projects are carried out with the support of grants awarded by Iceland, Liechtenstein, and Norway through the EEA and Norwegian financial mechanisms 2014-2021, within the “SMEs Growth Romania” program. The total value of the projects is EUR 4 million.

The PPL stock price jumped by 15% on Wednesday, September 1, after the company released its first-half results. Year-to-date, the shares have gained 48%.

(Photo courtesy of the company)

andrei@romania-insider.com

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