Megaplast, a packaging materials manufacturer based in Heraklion, Crete, with production operations in Thebes, received a refund of $629,000 in tariffs from the United States. The duties had been paid on products imported into the US market after the Trump administration imposed tariffs.
According to the management report, in February 2026 the US Supreme Court ruled that the tariffs imposed under the International Emergency Economic Powers Act (IEEPA) were unlawful. The US subsidiary, Megaplast USA Inc., filed a refund claim in April 2026 and, according to the financial statements, received the amount relating to import duties paid during the 2025 and 2026 financial years.
Last year, consolidated revenue stood at €40.85 million, down 2%. Management attributed the decline mainly to strategic price cuts aimed at entering new markets.
Financial performance
EBITDA fell to €8.71 million from €9.23 million, while the EBITDA margin was 21%, down from 22%. The group's net profit fell to €5.98 million from €6.26 million in 2024, while pre-tax profit stood at €6.02 million, down from €6.43 million.
Despite the decline in profitability, cash balances rose to €14.1 million from €11.26 million, while debt stood at €1.59 million and consisted of a bond loan from related parties.
The company, founded in 1997, manufactures industrial packaging films, its main products being Stretch Film and Fiber Film. It has production facilities in Heraklion and Thebes, a research and development centre in Athens, and sales subsidiaries in the US, UK, Italy, Spain and Germany.
During 2025, it moved an extruder from its Heraklion factory to its Thebes plant at a cost of about €410,000, as part of a reorganisation of its production equipment.
Research and development spending also amounted to €1.3 million.