Plast-Box Group revenues up 39%, but profits hit as costs soar

The Plast-Box Group, a producer of plastic packaging, generated revenues of PLN 197.6 million after three quarters of 2021, which is a 25.6% better result than last year’s PLN 157.4 million. The operating profit (EBIT) was PLN 10.8 million, EBITDA was PLN 22.3 million, and the consolidated net profit was PLN 9.0 million.

“The third quarter of this year has brought dynamics of market changes unprecedented for many years. The situation on the market of components and raw materials is unprecedented on a global scale. The prices of our key raw material for production reached record volatility and an unprecedented level of growth for years, significantly reducing profits. Thanks to the determination in acquiring components and implementing individual contracts, we dynamically increase revenues” – said Grzegorz Pawlak, President of the Management Board of Plast-Box S.A.

The Group’s revenues during 9 months of 2021 amounted to PLN 153.4 million and was 38.8% higher year-on-year. Cumulatively after the three quarters of 2021, the unit net profit amounted to PLN 4.1 million, compared to the profit of PLN 6.1 million in 2020.

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