Market News


ROMCARBON SA - ROCE

2022 Q1 report

Release Date: 5/16/2022 8:00:10 AM

IRIS Code: DBE8E

SC ROMCARBON SA

132, Transilvaniei Street, 120012, Buzau, Romania

Commerce Registry Number : J10/83/1991

Sole Registration Number : 1158050

VAT Number: RO1158050

Tel: +4 0238 711.155

Fax: +4 0238 710.697, 723.115

E-mail: investor.relations@romcarbon.com

Website: www.romcarbon.com

Share Capital: 26,412,209.60 lei                                                      

Number of Shares: 264,122,096      

Ø  Romcarbon’s sales increased by 12% (+7,066,974 lei) in Q1 2022 compared with Q1 2021 while the Group’s sales increased with 23% (+ 16,839,901 lei) ;

Ø  Romcarbon’s net profit increased by 255% (+754,371 lei) in Q1 2022 compared with Q1 2021 and the Group’s net profit increased by 643% (+ 3,869,532 lei).

 

In a nutshell in Q1 2022, Romcarbon performed better than in the similar period of 2021.

The total sales is 68,291,731 lei, increased by 12% as compared with the similar period of 2021. EBITDA Operational recorded an increase with 352,510 lei, +11% compared with Q1 2021.

The profit from operational activities is, in Q1 2021, of 1,503,444 lei, increasing by 413,034 lei (+ 38%) compared to the previous year and the net profit is 1,050,619 lei, increasing by 754,371 lei (+ 255%) compared to the similar period of the previous year.

     The biggest challenge for Q1 2022 remained the cost and the availability of the raw material ( plastic granules) and the accelerating increase of the cost of utilities.

 

The evolution of the company main indicators is shown in the following table:

Item

3 months

2020

3 months

2021

3 months

2022

2022 vs. 2021

Revenues (Net sales)

48,249,634

61,224,757

68,291,731

7,066,974

12%

Other Income

971,688

1,108,970

1,116,613

7,643

1%

EBITDA

2,172,392

2,578,603

3,408,727

830,124

32%

EBITDA Operational 1

2,949,137

3,073,331

3,425,842

352,510

11%

Profit(loss) from operations

688,806

1,090,410

1,503,444

413,034

38%

Net profit

(162,818)

296,248

1,050,619

754,371

255%

Non-Current assets

161,432,961

150,847,181

136,227,247

(14,619,934)

-10%

Current assets

91,718,704

98,323,760

120,683,339

22,359,579

23%

Total Equity

136,891,434

138,508,792

135,195,500

(3,313,292)

-2%

Total Liabilities

116,260,230

110,662,148

121,715,085

11,052,937

10%

Debt ratio

46%

44%

47%

0

7%

Current liquidity

109%

113%

119%

0

5%

 

1 EBITDA Operational was calculated taking into account only the exploitation activity, excluding financial activity, sales of assets, depreciation and any other non-recurring items. From the point of view of evaluating the main activity of the company, this indicator is the most relevant.

Regarding the consolidated result of Romcarbon Group, the net profit is 4,471,702 lei, increasing with 3,869,532 lei as compared with Q1 2021.

The main impact, besides Romcarbon’ standalone result, is from:

Livingjumbo Industry SA registered a profit of 710,386 lei, while it was a loss of (652,149) lei in Q1 2021. The good result is mainly owed to the changes made in the PET sector in the second part of 2021;

RC Energo Install SRL registered a profit of 1,195,726 lei, increased with 981,549 lei as compared with Q1 2021, the highest of the Group’s companies, due to the increasing of Christmas lighting business in the winter 2021- 2022.

Green-Group the performance has improved significantly in Q1 2022 compared with Q1 2021. WEEE business plays huge role in it because the raw material price sored. The same is for Green Glass. The synthetic fiber business due to the market conditions has a negative impact in the Green-Group results.

The impact of the result of the associates (Green-Group) in the Consolidated Statements of the Romcarbon Group in 2022 is 1,583,476 lei, + 843,600 lei |+ 114% as compared with Q1 2021.

     Overall, the management team is seeing the business heading in the positive direction, although there are still some significant challenges for specific divisions which we have made the strategy for.

The evolution of the Group main indicators is shown in the following table:

Indicator [RON]

3 months

2020

3 months

2021

3 months

2022

2022 vs 2021

Revenue (Sales)

65,609,112

73,074,641

89,914,541

16,839,901

23%

Other income

1,433,848

1,840,099

6,524,262

4,684,163

255%

Share of profit / loss of associates

(294,690)

739,876

1,583,476

843,600

114%

EBITDA

3,046,841

3,962,851

8,089,482

4,126,632

104%

EBITDA Operational

4,315,733

3,901,985

6,572,211

2,670,226

68%

Net profit 1

(445,916)

602,170

4,471,702

3,869,532

643%

Net profit without the impact of Share of profit / loss of associates [Green-Group]    

(151,226)

(137,706)

2,888,226

3,025,931

-2197%

Non-Current assets

195,123,611

179,381,875

166,350,918

(13,030,957)

-7%

Current assets

111,454,295

115,840,779

148,329,157

32,488,378

28%

Total Equity

139,139,447

140,351,897

143,437,963

3,086,066

2%

Total Liabilities

167,438,458

154,870,758

171,242,112

16,371,354

11%

Debt ratio

55%

52%

54%

0

4%

Current liquidity

97%

104%

105%

0

1%

 

1 The contribution of the company to the profit of the Group:

Subsidiary

Result

3 months 2021 (in lei)

Result

3 months 2022 (in lei)

2022 vs 2021

Romcarbon SA

296,248

1,050,619

754,371

Living Jumbo Industry SA

(652,149)

710,386

1,362,534

RC Energo Install SRL

214,178

1,195,726

981,549

Infotech Solutions SRL

20,618

68,177

47,559

Recyplat Ltd Cipru

(102)

(101)

1

Eco Pack Management SA

(2,634)

(7)

2,627

Consolidation adjustments (Share of the profit of the associate Romgreen Universal LTD (Green-Group))

739,876

1,583,476

843,600

Intercompany eliminations and other consolidation adjustments

(13,866)

(136,574)

(122,708)

Total Net profit of the Group

602,169

4,471,702

3,869,533

About the Group

Romcarbon Group consists of companies that produce: (i) plastic packaging products and other plastic profiles (Romcarbon SA and Livingjumbo Industry SA), (ii) regenerated polymers and compounds (Romcarbon SA), (iii) other productive activities (Romcarbon SA) and (iv) other activities (RC Energo Install SRL, Infotech Solutions SRL, Recyplat Ltd Cipru, Eco Pack Management SA).

Romcarbon SA holds a stake of 17.59% of Romgreen Universal LTD (Green-Group), the major integrated recycler from South-East Europe.

The main companies of the Group with production activities are Romcarbon SA and Livingjumbo Industry SA, owning 72% and 14% of the total fixed assets.

The revenue distribution by field of activity in 2022 was as follows:

·                plastics processing (polyethylene, polystyrene, polypropylene, PET): 79% (78% in Q1 2021);

·                regenerated polymers and compounds: 15% (11% in Q1 2021);

·                other productive activities (production of filters for motor vehicles and industrial filters, production of respiratory protection masks, PVC traffic base): 2% (2% in Q1 2021);

·                other activities: 4% (9% in Q1 2021).

 

For further information please access the attached pdf files.

 

 

 



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