Global Insulation
Precision is no coincidence! More than 40 years - precise measured values - Fagus GreCon
  • Home
  • News
  • Conferences
  • Directory
  • Magazine
  • Knowledge Base
  • Awards
  • My details
  • Advertise
  • About
  • Privacy & Cookie Policy
  • Contact
News Masterplast’s sales fall as earnings slip into the negative in first nine months of 2023

Masterplast’s sales fall as earnings slip into the negative in first nine months of 2023

Written by Global Insulation staff
26 October 2023
  • Print
  • Email

Hungary: Masterplast reported sales worth Euro114m during the first nine months of 2023. This represents a year-on-year decline of 31% from Euro164m in the corresponding period in 2022. The producer’s earnings before interest, taxation, depreciation and amortisation (EBITDA) losses were Euro2.93m, compared to a positive figure of Euro19.3m. During the third quarter of 2023, sales declined in Hungary by 45% and across its export markets by 26%. They rose by 21% in Poland, by 8% in Croatia and by 2% in Ukraine.

Masterplast attributed its sales decline to low demand due to global inflation and rising interest rates amid on-going lockdowns, energy crises and war in Ukraine, while energy-saving renovation initiatives have also been subject to delays. The company set a savings target of Euro2m/yr and laid off 250 employees, including 210 from its plants in Serbia. It completed the construction of new expanded polystyrene (EPS) and extruded polystyrene (XPS) capacity in Italy and Serbia, which it expects to bring online later in 2023.

Published in Global Insulation News
Tagged under
  • Hungary
  • Masterplast
  • Results
  • Exports
  • Poland
  • Croatia
  • Ukraine
  • EPS
  • extruded polystyrene insulation
  • XPS
  • market
  • demand
  • Plant
  • staff
  • Jobs
  • costs
  • Strategy
  • costs saving initiatives
  • target
  • Serbia
  • Italy

Related items

  • Wull Technologies to produce sheep’s wool insulation panels
  • Saint-Gobain announces upcoming Melton Mowbray stone wool insulation plant
  • Knauf Insulation to build new stone wool plant in North Wales
  • Nichias Corporation to dissolve Kimitsu Rockwool Corporation
  • Metigla announces €15m Ceptura metal roofing systems plant upgrade
Global Gypsum Monthly Sign up
Global Insulation LinkedIn
Global Insulation X
Acquisition appointment Belgium China CO2 Denmark France Germany Glass Wool government Insulation Ireland Johns Manville Kingspan Knauf Knauf Insulation Mineral Wool Owens Corning Plant Polyurethane Product Results Rockwool Russia SaintGobain Stone wool insulation Sustainability UK Upgrade US
« May 2025 »
Mon Tue Wed Thu Fri Sat Sun
      1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31  
  • Home
  • News
  • Conferences
  • Directory
  • Magazine
  • Knowledge Base
  • Awards
  • My details
  • Advertise
  • About
  • Privacy & Cookie Policy
  • Contact
  • Magazine >>
  • Introduction
  • Back issues
  • Articles
  • Conferences >>
  • Global CemBoards
  • Global CemCCUS
  • Global CemFuels
  • Global Concrete
  • Global FutureCem
  • Global Gypsum
  • Global GypSupply
  • Global Insulation
  • Global Slag
  • Websites >>
  • Global Cement
  • Global Gypsum
  • Global Slag
  • Global CemFuels
  • Global Concrete
  • Pro Global Media
  • PRoIDS Online

© 2025 Pro Global Media Ltd. All rights reserved