TeraSteel says exports reached 58 percent in 2019, plans to extend in Romania and Serbia

TeraSteel, one of the leading manufacturers of thermal insulation panels in ​​Central and Eastern Europe (CEE), recorded exports of 58% of turnover in 2019 and continues its development plans both on the Romanian and Serbian markets.

“We are promoting exports to reduce Romania’s dependence on imports and to reduce the trade deficit that is currently over 15 billion euros. Despite the COVID-19 virus, our employees in Romania, Slovakia, Hungary, Macedonia, Poland, Ukraine, Bosnia & Herzegovina and Serbia continue their production, sale and distribution activities. During the first three months of the year, our attention was to meet our budget figures, thus contributing to the economic development of the country, because Romania must move forward,” said Cosmin Pătroiu, TeraSteel general manager.

In 2019, TeraSteel Romania and Serbia registered the best profitability margin among the companies of the TeraPlast Group. The turnover of the thermal insulation panels segment increased by 18% compared to the previous year, reaching 308.8 million RON. EBITDA increased by 42% compared to 2018, up to 37.6 million RON.

For 2020, TeraSteel Romania and Serbia have a turnover target of over 350 million RON and an EBITDA of over 44 million RON.