Press release: R&P POLYPLASTIC announces Third – Quarter 2018 Financial Results

R&P POLYPLASTIC at its Moscow headquarters held a conference following third-quarter 2018 results.

Company analysts mentioned that the volume of shipments was over 22.5 thousand tons of compound materials. The largest consumers traditionally were auto manufacturers, producers of large household appliances and construction materials.

Deputy Head of Market Development Department Anna Potapova highlighted the company’s progress in cooperation with leading auto manufacturers, which localized their work in Russia. She highlighted the production of bumpers for the new Nissan X-trail. 

Head of Research and Development Mikhail Katsevman shared his expectations for the next year and told about the Russian market environment. “The market size will not be rising dramatically – between 1.2 – 1.7%. However, the buying activity will not be rising and we must be ready to work in a very competitive environment,” said Mikhail Katsevman.  

One of the main targets of the company is development of existing market outlets. This concerns both areas of application of polymer materials and geographic growth of supplies. In 2018 within the Export Boost R&P POLYPLASTIC has begun to deliver first batches of polymer materials to customers from the Baltic States and Western Europe.

Among negative trends R&P POLYPLASTIC analysts mentioned increase of VAT rate in Russia in 2019 which will inevitably lead to price rise. Accordingly, the company proposes to buy materials at current prices against next year deliveries.  

Managing partner Andrey Menshov turned his attention to financial results: “Q3 results show that we managed to reduce business and executive expenses. The successful implementation of the Lean Manufacturing program made these results possible”.

Finally, top-management of the company thanked all employees for their work.