Masterplast - Weak Q4, Gloomy Short-term Outlook
Weak Q4, gloomy short-term outlook
- Masterplast released 2022 Q4 figures this morning, showing weak results for the last quarter, as expected since the January profit warning. Quarter came in well below both q-o-q and y-o-y comparison with 32% and 17% drop in sales respectively, at EUR 37.7 mln, resulting in loss on both EBIT and net profit levels, with bottom line compressed further by FX loss of EUR 1.01 mln vs. average EUR 2.42 mln profit in 2022 Q2-Q3. Seasonality is a headwind for the sector in Q4, but q-o-q drop of 32% is exceptionally weak vs historical average of around 10% for Masterplast. We put our recommendation and target price under revision following the missed guidance.
Masterplast Nyrt is a Hungary-based company active in construction sector. The company is a producer and distributor of construction industry products. Its product portfolio includes facade insulation systems and components, roofing underlay and roofing accessories, bituminous corrugated sheets and shingles, thermal-sound and water insulation materials, dry construction elements, as well as plaster profiles and accessories, polypropylene foils and bags and foam tapes. It has two production plants, based in Kal, Hungary and Subotica, Serbia.The Company sells its products domesticaly and exports it to Estonia, France, Greece, the Netherlands, Italy, Latvia, Lithuania, the Russian Federation, Sloveania and Turkey.
Concorde Securities Ltd. is Hungary’s leading independent company engaged in investment banking activities. It provides its clients with integrated financial services, including securities trading, research, corporate financing advisory, capital market transactions, wealth management and investment advisory. The operational management of the company is the responsibility of the CEO, while the owners/managers (who control one-third of the company through their shares and options) are in charge of its strategic governance. Concorde Securities Ltd. is a member of the Budapest, Frankfurt, Warsaw and Bucharest stock exchanges, as well as of the Hungarian Association of Investment Service Providers.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.