ROCA Industry, the Romanian industrial holding specialized in construction materials, recorded a cumulative turnover of 141.5 million RON in the first quarter of the year, according to the report for the first three months of 2024. Cumulative revenues at the level of the productive companies in the holding increased by 5.6 percent compared to Q1 2023, in the conditions of a declining construction materials market.
Compared to the results of Q1 2023, the cumulative EBITDA at the level of ROCA Industry companies increased by 63.2 percent, and the turnover recorded increases of 5.6 percent.
ROCA Industry’s performance was achieved in the context where the volume of construction works as an adjusted series decreased by 11.8 percent in January-February 2024 compared to the same period of 2023, while construction works on residential buildings contracted with 36.9 percent. Also, the number of building permits was lower in the first quarter by 7.2 percent compared to the first quarter of 2023.
“The results obtained in Q1 2024 are the effect of our vision of long-term sustained growth. As early as 2023, we have implemented a strategy for the organic growth of the portfolio companies, in parallel with the operational, commercial and professional development of the teams, all with the aim of improving our performance. We started reaping the fruits of the implementation of this strategy, so that all companies in the holding have positive EBITDA and have reached the budgeted targets for this period, proving that we are on the right path and consolidating our position on the market”, said Ionuț Bindea, CEO of ROCA Industry.
All companies of ROCA Industry holding show positive EBITDA developments in the first quarter of this year.
BICO Industries (70 percent ownership by July 2023, 60 percent thereafter), the largest producer of fiberglass mesh in Eastern Europe and the third largest producer in the EU, reports a turnover of 41.7 million RON, up 2.6 percent from Q1 2023 and EBITDA of 4.5 million RON, respectively a 300 percent increase. In the first quarter, the company completed an investment project worth 1 million euro, equipping the factory in Vulcăneşti with high-performance equipment for the production of knitted netting. As of Q1 2024, BICO is also a supplier of screed reinforcement materials, turning a cost-generating waste into a viable product.
EVOLOR (100 percent ownership), one of the largest players in the paint and varnish production industry, reaches a turnover of 18.7 million RON, representing an advance of 6.3 percent compared to the similar period in 2023. EBITDA, worth 1.7 million RON in the first quarter of the year, is below the value of Q1 2023, a year that was exceptional for the company. The company announces a 20 percent increase in production capacity with the relocation to the new factory.
Eco Euro Doors (100 percent ownership), the largest Romanian manufacturer of doors for residential construction, reports in Q1 2024 a turnover of 13.8 million RON, with an EBITDA margin of 12.8 percent RON, an advance of 46 percent compared to the value from Q1 2023.
With a turnover of 10.9 million RON and an EBITDA margin of 25.9 percent, Workshop Doors
(70 percent ownership from February 2024), the most recent acquisition, is being integrated into the holding structure. The merger between WD and EED is expected to take place in Q2 and Q3 of 2024.
DIAL (100 percent ownership), producer of metallic wire products, records the highest increase in turnover, namely 55.5 percent, reaching 18.8 million RON, but also an EBITDA almost 7 times higher compared to the first quarter of the year past, including the launch of new products, the maximization of existing channels and the identification of new sales channels, implicitly through the development of the export area, the correlation of production with the needs identified in the sales area, and optimizations brought by the purchasing department.
ELECROPLAST (100 percent ownership from July 2023), one of the most important producers of electrical cables, reaches a turnover of 37.7 million RON and EBITDA of 2 million RON in the first months of 2024, up 61.9 percent compared to Q1 2023. The company completed the implementation of the Industry 4.0 project. for the digitization of the factory and received approval for an investment project worth more than 9 million euros, aimed at the major re-engineering of equipment and the tripling of production capacity by 2026.
