Teraplast (TRP) Q2 2025 earnings summary

Executive summary

• Turnover rose 29% year-over-year to RON 552 million in H1 2025, with EBITDA up 74% to RON 47 million and net profit of RON 3.4 million, reversing a prior loss despite RON 4.3 million in forex losses.

• International sales nearly doubled, now 35% of turnover, driven by acquisitions and market expansion.

• Growth was supported by dynamic infrastructure demand, M&A activity, and operational efficiency improvements.

• Group structure remained stable, focusing on expanding market share in Germany, Austria, and Hungary.

• Integration of Aquatica Experience, Wolfgang Freiler Group, and Optiplast contributed significantly to results.

Financial highlights

• Consolidated net sales reached RON 552 million, up 29% year-over-year; EBITDA margin improved to 8.5% (+2.2pp), and gross margin rose to 37%.

• Net profit of RON 3.4 million, reversing a loss of RON 6.6 million in H1 2024.

• Volumes increased 18% year-over-year, with Installations and Compounds up 12%.

• Cash at period end was RON 24.1 million, down from RON 32.4 million at the start of the year.

• Total assets increased to RON 1.21 billion from RON 1.07 billion at year-end 2024.

Outlook and guidance

• Management remains cautious on revising 2025 estimates due to uncertainty in Romanian infrastructure investments, with a potential update after Q3.

• Expect continued positive impact from recent acquisitions and increased market share in foreign markets.

• Leverage expected to fall below 4x by year-end 2025, supported by EBITDA growth.

• Anticipate challenging packaging segment performance in coming quarters, with ongoing operational improvements.