The turnover of Romanian construction materials manufacturing Teraplast (BVB: TRP) increased in the first three months of the year (Q1) by 58% compared to the same period last year, up to RON 170.5 mln (EUR 34 mln).

The revenues were driven, among others, by the beginning of production in new units following the investments made.

The company's net profit amounted to RON 6.8 mln, lower than the first quarter of last year, "nevertheless a good result in totally changed economic conditions compared to 2021," according to the note to investor sent by the company.

The good results reconfirm the Group's expectations regarding the achievement of the ambitious budget approved for the whole year 2022, the company said.

Although down from the same period last year, the operating margins mark a significant improvement over Q4. The company argues that "this proves the resilience of the group's operations in view of the radical change in the economic context in Q1 compared to the previous year." 

andrei@romania-insider.com

(Photo source: Facebook/Teraplast)