Home / Knowledge / News / Textiles / Q1 revenues dip at Polish chemical producer CIECH
Q1 revenues dip at Polish chemical producer CIECH
20
May '13
Ciech published its report for Q1 2013. EBITDA (operating profit plus the value of depreciation/amortisation) amounted to PLN 132 million, compared to PLN 95 million in Q4 2012 and PLN 126 million in the same period a year earlier.

Revenue amounted to PLN 993 million, compared to PLN 1,020 million in Q4 2012 and PLN 1,172 million in Q1 2012. Net profit amounted to PLN 45 million, compared to PLN 68 million in the last quarter and PLN 10 million in the first quarter of the previous year.

Solid Q1 results are the consequence of a good standing of the soda segment, which generates approx. 75% of the operating profit plus depreciation/amortisation. The growing EBITDA profitability results from the Group's continued restructuring measures.

We have closed another quarter of intense work to improve the Group's profitability, leading to measurable effects, such as better operating profitability, said Dariusz Krawczyk, President of the Management Board of Ciech SA. We expect that our continued efforts will produce effects in the following quarters, he added.

In spite of the exceptionally long winter, which negatively influenced the sale of plant protection products, the absence of some of the production capacities in the glass segment in Scandinavia and low sale prices in US Govora, a Romanian soda plant, the operating results and net profit are above market consensus.

The situation in our Romanian plants is another challenge for the Ciech Group, said Dariusz Krawczyk. We need to continue to implement a deep restructuring of our foreign plants in Romania and Germany. We will have to work hard and make some tough decisions, Krawczyk added.

The Ciech Group continues its deep restructuring programme. Some of the implemented initiatives include projects to improve production effectiveness and profitability, to divest non-operating assets and reorganise employment in the Group's Polish and foreign companies.

At the same time, the Ciech Group plans to develop its production capacities in Polish soda plants. The implementation of these plans depends on whether it will be possible to integrate some of the plants into the Pomeranian Special Economic Zone.

CIECH


Must ReadView All

Europe fights against microplastic release from textiles

Textiles | On 18th Jan 2018

Europe fights against microplastic release from textiles

The European Commission, the institution of the European Union, has...

Egypt starts building biggest textile city in Al-Sadat

Textiles | On 18th Jan 2018

Egypt starts building biggest textile city in Al-Sadat

Egypt has started construction of the biggest city for textiles and...

Vietnam targets $20 bn from export of footwear, bags

Apparel/Garments | On 18th Jan 2018

Vietnam targets $20 bn from export of footwear, bags

Vietnam targets to earn around $20 billion from the export of...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search