AD Plastik (ADPL) Q3 2024 earnings summary

Executive summary

• Operating revenue for the first nine months of 2024 rose 17.4% year-over-year to EUR 111.53 million, with EBITDA up 29.3% to EUR 8.95 million and net profit up 44.4% to EUR 0.58 million.

• The parent company saw revenue grow 21.4% to EUR 85.07 million, EBITDA up 91.7% to EUR 5.51 million, and net profit up 1,343.1% to EUR 1.70 million year-over-year.

• New project launches and serial production were key drivers of growth, with additional contracts worth EUR 45.7 million secured.

• The Group outperformed the European automotive market, which grew only 0.6% in new car sales in the same period.

• Management remains focused on sustainable growth, capacity optimization, and cost efficiency.

Financial highlights

• Group operating revenue: EUR 111.53 million (+17.4% YoY); Parent: EUR 85.07 million (+21.4% YoY).

• Group EBITDA: EUR 8.95 million (+29.3% YoY); Parent: EUR 5.51 million (+91.7% YoY).

• Group net profit: EUR 0.58 million (+44.4% YoY); Parent: EUR 1.70 million (+1,343.1% YoY).

• EAPS (Romania) net profit: EUR 4.15 million, down due to model transition but expected to improve.

• Capex increased to EUR 10.42 million (+65.8% YoY); net financial debt stable at EUR 45.69 million.

Outlook and guidance

• Full effects of new serial production expected in coming periods as contracted volumes are reached.

• Additional contracts anticipated by year-end to further strengthen the order book.

• Management expects further normalization of debt ratios and improved profitability as projects ramp up.