AD Plastik Group has contracted new deals in Russia with the Renault-Nissan-AvtoVAZ alliance, worth €47.7 million, for various vehicle models, the auto parts manufacturer from Solin announced on Thursday.

The estimated duration of the AD Plastik Group project in Russia is five years, the company said in a statement on the Zagreb Stock Exchange.

According to a previously published financial report, the net profit of AD Plastik Group in the first nine months of this year amounted to HRK 22.97 million, which is 3.5 per cent less than in the same period last year, while profit before interest, taxes and depreciation at the group level decreased by 10.3 per cent to HRK 97.49 million.

The operating revenues of AD Plastik Group amounted to HRK 830.51 million, down 1.3 per cent compared to the same period last year, while at the same time the Group’s operating expenses decreased by 0.3 per cent to HRK 802.5 million.

The parent company AD Plastik d.d. in the first nine months of this year made a net profit of HRK 5.26 million, down 87.7 per cent compared to the same period last year.

Commenting on the financial report, AD Plastik Management Board President Marinko Došen pointed out that the company operates in a very demanding and challenging period, and the lack of semiconductors on the global market is reflected in their business.

He also underlined that AD Plastik Group is adjusting its business to the market situation, and although the semiconductor crisis is also affecting the Russian market, its Russian factories have seen revenue growth of more than 25 percent in the first nine months compared to the same time last year.

AD Plastik is a leading company for the development and production of components for car interiors and exteriors in Croatia and one of the leaders in Eastern Europe.

(€1 = HRK 7.5)