Polyplastic Group intends to increase product output and revenue at least 15% in 2024

ST. PETERSBURG. June 10 (Interfax) - Polyplastic Group intends to increase revenue and product output at least 15% in 2024, group president Lev Gorilovsky said in an interview with Interfax.

"We produced a little more than 390,000 tonnes of products in 2023; total revenue for the group reached 98 billion rubles. This year we plan to continue to grow at least 15% in monetary terms and no less in terms of production volumes," he said.

Therefore, Interfax estimates that the revenue of Polyplastic Group should reach at least 112.7 billion rubles, with product output of at least 448,500 tonnes.

"Although the market need is much greater, and I would like to grow faster, some large government support programs, which are expected at the end of 2024 and in 2025, have not started yet. If they start earlier, then our indicators will grow even more," Gorilovsky said.

He said that 80% of production volumes are in the pipe sector, while the remaining 20% are in composite materials.

Polyplastic Group is the largest manufacturer of polymer pipes in Russia and the EAEU for external water supply and sewerage networks, gas distribution, hot water supply and heating. The group has pipe factories in Russia, Belarus, and Kazakhstan with a total capacity of about 750,000 tonnes.