AD Plastik Group, a leading Croatian car parts producer, generated a net profit of 25.8 million kuna (€3.4 million) in Q1 2021, which is 8.2 percent down from Q1 2020, the company reported on Tuesday.

AD Platik’s total revenue in Q1 amounted to 331.4 million kuna, or 10 percent down year-on-year. Total expenditure also dropped by 11.8 percent to 299.9 million kuna. Operating revenue amounted to 327.2 million kuna or 9.8 percent down from Q1 2020. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) decreased by 16.6 percent to 52.3 million kuna.

The group’s management said the results for the first quarter are expected and confirm the financial stability and profitability of the company in the very demanding and challenging circumstances of the coronavirus crisis.

“All indicators decreased compared to the first quarter of last year, but it should be noted that the company in the first quarter of 2020 continued to record revenue growth, despite the onset of the pandemic and a significant decline in the automotive market.

In the first two months of 2020, our factories achieved record results, and the beginning of the pandemic and the consequences it caused unexpectedly changed the situation,” AD Plastik reported on its web site.

(€1 = 7.57 kuna)