Thrace Plastics reports strong operating performance in early 2026

The Group’s turnover amounted to €100.3 million, compared with €96.4 million in the corresponding period of 2025, representing an increase of 4%. This positive development is mainly attributed to a 5.3% rise in sales volumes, reflecting the sustained strength of commercial activity despite ongoing geopolitical and economic challenges.

Even more notable was the improvement in operating profitability. EBITDA reached €15.1 million, marking a 64.9% increase compared with the first quarter of the previous year. At the same time, operating profit (EBIT) rose to €7.7 million, up by 220.3%, a development driven by an improved product mix, stronger sales performance, and more efficient utilisation of the Group’s production base.

Net profitability also strengthened significantly, with profit after tax reaching €5.4 million, compared with just €0.5 million in the same period of 2025. Earnings per share amounted to €0.1177, versus €0.0105 last year, reflecting the substantial improvement in financial performance.

At the operational level, the Packaging segment was the main growth driver, with sales increasing by 17.8% and EBITDA almost doubling, rising by 97.3%. Meanwhile, the Technical Textiles segment, despite ongoing challenges in certain markets, recorded an EBITDA increase of 38.8%, confirming an improvement in its operational performance.

Regarding the financial position, net debt stood at €71.1 million, up from €56.9 million at the end of 2025. The increase is mainly attributed to acquisition financing as well as the distribution of an interim dividend. Nevertheless, operating cash flows remained strong, reaching €12.1 million.

The Group’s CEO, Dimitris Malamos, stated that first-quarter results confirm the company’s momentum and resilience in an environment of heightened uncertainty, noting that the improvement in operating profitability reflects a better product mix, strong commercial performance, and the effective utilisation of investments made in previous years.

For the second quarter of 2026, management expects operating profitability to be higher compared with the same period in 2025, maintaining the positive trend observed at the beginning of the year. However, it refrains for now from providing a full-year forecast, citing ongoing uncertainty stemming from geopolitical developments, raw material cost fluctuations, and global market conditions.

Despite the challenges, management expresses cautious optimism for the remainder of the year, estimating that the diversification of activities, strong commercial presence, and operational readiness of the Group create the conditions for maintaining improved levels of comparable operating profitability relative to 2025.