Compostable packaging producer Promateris reports 22% stronger revenues in Q1
Promateris (BVB: PPL), a Romanian industrial group and leader in Central and Eastern Europe in the production of biodegradable and compostable packaging, reported consolidated revenues of RON 42.7 mln (EUR 8.6 mln) in the first three months of 2022, 22% more compared to the same period of the previous year.
It also reported RON 4.6 mln (EUR 0.92 mln) EBITDA and RON 1.2 mln (EUR 0.24 mln) net profit.
"The results for the first three months of 2022 are positive, given the difficult market environment caused by the war in Ukraine and the inflationary environment. Turnover exceeded the all-time high previously recorded in 2021 after an outstanding 61% YoY growth. EBITDA remained at the historical level of last year, and the net profit registered a decrease of 39% compared to Q1 / 2021," the company commented.
Promateris' market capitalisation was RON 416 mln (EUR 83 mln) on May 17.
(Photo source: the company)