Home / Knowledge / News / Textiles / Sales of Providência Nonwovens shows growth of 42.4% for Q2
Sales of Providência Nonwovens shows growth of 42.4% for Q2
26
Aug '08
Companhia Providência Indústria e Comércio, leader in the manufacture and sales of nonwovens in Brazil, with a significant presence in Latin America, announced its results for the second quarter of 2008 (2Q08). The company reports that for comparison purposes, the numbers referring to 2Q07 do not include balances from its subsidiary, Isofilme.

Highlights of 2nd Quarter 2008:
- The Company's Net Revenue reached R$ 127.4 million this quarter, for growth of 26.3% over 2Q07;
- Sales Volume increased 31.3% over 2Q07, due to the acquisition of Isofilme, which added 2,300 metric tons in 2Q08 and to the entry into operation of the KAMI9 in April 2008, which reached full capacity of 1,250 metric tons per month in June 2008; - The Ebitda adjusted by the hedge operation totaled R$ 31.4 million, up 19.3% over 2Q07. Compared to 1Q08, the Ebitda increased 13.7%, with a margin of 24.6% against 23.9% in 1Q08;
- The Ebitda adjusted by the hedge operation of the Nonwovens Division reached R$ 28.4 million, with a margin of 27.4%, an increase of 19.5% over 2Q07;
- The Ebitda of the Pipes and Fittings Division reached R$ 2.9 million in the quarter, with a margin of 12.9%, for growth of 27.6% compared to the same period in 2007.
- The Company's Net Income was R$ 13.8 million in the quarter, an increase of 249.2% compared to 2Q07 and of 40.6% over 1Q08;
- Conclusion of the investments and improvements in the production process of Isofilme, enabling it to reach full production capacity of 10,000 metric tons per year of nonwovens;
- Progress in capacity expansion projects in the specialty area of disposable hygienic products.

Nonwoven Division:
Net income totaled R$ 103.7 million in 2Q08, up 34.4% in relation to 2Q07, due principally to the incorporation of the operations of Isofilme and the coming on stream of the KAMI9.
It should be noted that this result is still more impressive if we take into account that the appreciation of the real against the dollar during the period (17.4% over the last 12 months and 4.7% compared to 1Q08) negatively impacted growth in income derived from exports. As already mentioned, the Company carried out foreign exchange hedge operations to reduce the impact of this devaluation on the Division's final results.

Sales of Nonwovens, our principal product, in 2Q08 showed growth of 42.4% over the same period of 2007. Growth was 18.8% over 1Q08, due to the attainment of full capacity, in June 2008, at Isofilme, acquired in August 2007 and which has a production capacity of 10,000 metric tones per year, and at KAMI9, which began operations in April 2008 and reached full capacity of 15,000 metric tons per year in June 2008.

Companhia Providência Indústria e Comércio


Must ReadView All

OECD urges UK for close EU ties to meet Brexit challenges

Textiles | On 24th Oct 2017

OECD urges UK for close EU ties to meet Brexit challenges

The British economy has weakened following the decision to leave the...

Accord, Alliance to leave Bangladesh in 2018

Apparel/Garments | On 24th Oct 2017

Accord, Alliance to leave Bangladesh in 2018

Accord and Alliance, the two western buyers' platforms working to...

Gujarat govt announces bonus for cotton farmers

Textiles | On 24th Oct 2017

Gujarat govt announces bonus for cotton farmers

The Gujarat government has announced a bonus of Rs 100 per 20 kg for...

Interviews View All

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Nitesh Mittal

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

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Steve Cole
Xerium Technologies

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

Marten Alkhagen
Swerea IVF AB

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

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

October 2017

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
76.1%
No
12.7%
Skip
11.3%

Total Votes: 71

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
62.0%
No
28.2%
Skip
9.9%

Total Votes: 71

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
85.9%
No
9.9%
Skip
4.2%

Total Votes: 71

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
76.1%
No
11.3%
Skip
12.7%

Total Votes: 71


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