Home / Knowledge / News / Textiles / PEGAS records net profit of EUR 20.8 mn in 2009
PEGAS records net profit of EUR 20.8 mn in 2009
18
Mar '10
PEGAS NONWOVENS SA, a leading European producer of nonwovens textiles, recorded net profit of EUR 20.8 million in 2009 which is by almost 40% more than in the previous year, based on the preliminary unaudited results.

Consolidated revenues reached EUR 123.4 million, down by 13.5% compared with 2008. Revenues were primarily influenced by the rapid decline of prices of raw materials (polyethylene and polypropylene), which subsequently led to lower sales prices of final products. The operating profitability before depreciation, interests and taxes measured by EBITDA amounted to EUR 38.8 million last year and declined by 1.8% yoy.

Company's net profit went up by 39.7% yoy to EUR 20.8 million compared with 2008. Main reason of this growth was stable operating profitability, FX gains and substantially lower interest costs due to a lower level of indebtedness and lower interest rates.

„In 2009 PEGAS achieved a very good operating result in terms of EBITDA, which reached similar level as in 2008. In the first half of last year the Company benefited from the positive effect of the price pass-through mechanism, while from the second half onwards it was necessary to absorb the negative impact of increases in input material prices which continue to prevail. In an effort to eliminate this negative impact, we relied on the traditionally outstanding production efficiency of our modern machinery, on a higher than expected demand for our products and last but not least on a relatively stable CZK/EUR exchange rate compared with 2008. We are also pleased that bank debt was reduced by one fifth to EUR 96 million whilst making a dividend payment of EUR 8.3 million. The continuing ability of our business to generate cash gives us the confidence regarding continued financial stability and the potential for further growth.

2010 has started satisfactorily and whilst we do not believe that the circumstances prevailing this year will be as positive as in 2009 we continue to believe that solid returns will be produced for shareholders,” said František Rezác, member of the Board of PEGAS NONWOVENS SA and CEO of PEGAS NONWOVENS s.r.o..

PEGAS NONWOVENS s.r.o.


Must ReadView All

Global economic upswing became broader & stronger: IMF

Textiles | On 19th Apr 2018

Global economic upswing became broader & stronger: IMF

The global economic upswing that began around mid-2016 has become...

Courtesy: ITMA

Textiles | On 19th Apr 2018

ITMA 2019 expanding space due to overwhelming response

Due to overwhelming response, the exhibition space has been increased ...

BIDA’s Europe trip to showcase a different Bangladesh

Apparel/Garments | On 19th Apr 2018

BIDA’s Europe trip to showcase a different Bangladesh

The Bangladesh Investment Development Authority (BIDA) is taking a...

Interviews View All

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Krishnanand Tripathi
Textrade International Ltd

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

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Sandip Bhojani, Manthan Patel

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

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Marten Alkhagen
Swerea IVF AB

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

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

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

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


April 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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
7.8%
Skip
9.7%

Total Votes: 103


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