Home / Knowledge / News / Textiles / Pegas Nonwovens sales up 4.2% in nine months to Sept
Pegas Nonwovens sales up 4.2% in nine months to Sept
21
Nov '13
Based on unaudited results Pegas Nonwovens SA, a leading European producer of nonwovens textiles, recorded consolidated revenues of EUR 146.0 million in the first nine months of 2013, up by 4.2% yoy.

The year-on-year growth in revenues was the result of higher sales of finished products (particularly in the first quarter of the year) as well as the slight increase in polymer prices. The total consolidated revenues in the third quarter of 2013 were EUR 47.9 million, a 0.1% increase compared with the same period last year.

The year-on-year decline in polymer price indices, which are decisive for setting the sales prices of finished products, in the third quarter of this year, compensated for the sales levels of the gradually ramped-up production in Egypt.

Operating profitability before depreciation and amortization, interest and taxes measured by EBITDA was EUR 27.9 million, down by 3.2% yoy. The decline in EBITDA was affected by increased staff costs resulting from the revaluation of the share option plan to fair value and the higher number employees for the new production plant in Egypt.

The good sales performance from the beginning of the year was gradually compensated for by lower than planned production results. The polymer price pass-through mechanism had a slightly positive effect on the year-on-year comparison. EBITDA amounted to EUR 8.8 million in the third quarter of 2013, down by 22.2% yoy.

The year-on-year comparison was to a great degree affected by the unusually high EBITDA achieved in the third quarter of last year on the back of a significantly positive impact of the price pass through mechanism. Likewise, the increase in staff costs, namely in connection with the revaluation of share options and the higher number of planned production technical breaks also impacted the EBITDA level.

In the first nine months of 2013, profit from operations (EBIT) amounted to EUR 18.6 million, down by 6.1% over the same period in 2012. In the third quarter of 2013, profit from operations decreased by 38.0% to EUR 5.2 million. The decreased profit from operations was negatively affected by lower operating performance and higher depreciation and amortization.

In the first nine months of 2013, net profit reached EUR 9.1 million, down by 48.9% yoy, primarily due to unrealized foreign exchange changes. In the third quarter of 2013, the Company recorded a net profit of EUR 2.3 million, down by 72.9% compared with the same period in 2012 due to lower operating performance, higher depreciation and amortization, the effect of FX changes and an increase in interest costs. 

Pegas Nonwovens


Must ReadView All

Courtesy: Connor Group

Textiles | On 21st Jun 2018

Protectionism top threat to textile sourcing: William Connor

Protectionism is the biggest political factor and threat affecting...

Courtesy: Tintex

Textiles | On 21st Jun 2018

'Price ratio is key factor for knitted fabrics market'

The price ratio is a key factor for the global knitted fabrics market ...

Leisure sneakers lead US footwear sales: The NPD Group

Apparel/Garments | On 21st Jun 2018

Leisure sneakers lead US footwear sales: The NPD Group

Leisure sneakers dominated US footwear sales between May 2017 and...

Interviews View All

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Top executives
Indian retail players

Walmart's acquisition of Flipkart endorses the humongous opportunities in...

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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

Leave your Comments


June 2018

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

news category


Related Categories:

Advanced Search