ADPL ended the day in red yesterday, noting a decrease of 9.1%.

AD Plastik published yesterday their 9M 2021 results, according to which the Group noted a decrease in sales of 1% YoY, a decrease in EBITDA of 10.3% and a decrease in net profit of 3.4%. However, when looking at solely Q3, sales decreased by 29% YoY, EBITDA decreased by 55% while the company also reported a net loss of HRK -9.5m. We note that a detailed overview of the 9M results are available to our Research subscribers.

Following the results investors unloaded the share, which led a sharp decrease in ADPL price by as much as 9.1%, erasing all gains made in 2021. We note that such a high daily decrease was the last time seen during the outbreak of the pandemic (18 March 2020) when the share decreased by 14.8%.

The share price ended the day at HRK 154 per share, which puts the company at a trailing 12m P/E of 13.8x and EV/EBITDA of 6.2x.

AD Plastik ended up being the second most traded share on ZSE, with a turnover of HRK 1.9m.

YTD Share Price performance of ADPL