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PEGAS NONWOVENS records EBITDA of EUR 9.2 mn in Q3
30
Nov '10
PEGAS NONWOVENS SA, a leading European producer of nonwoven textiles, recorded total consolidated revenues of EUR 40.5 million in the third quarter of 2010, based on the consolidated unaudited results.

In the third quarter of 2010, the total consolidated revenues increased by 34.6% compared with the same period last year. The key driver of revenue development was the rapid increase in polymer price indexes, which on average went up by 50% on an annual basis.

The operating profitability before depreciation, interests and taxes measured by EBITDA amounted to EUR 9.2 million in the third quarter of 2010 and went up by 9.6% yoy. The strong EBITDA recorded in this quarter resulted from strong production, good sales performance and the minimal impact of the pass-through mechanism.

In the third quarter of 2010, the profit from operations increased by 19% to EUR 5.1 million. The net profit of the Company recorded in the same period was EUR 8.2 million, and in the third quarter increased by 36.6% to EUR 8.2 million.

„In the third quarter of this year we recorded a very good EBITDA of EUR 9.2 million. When compared with the previous period, the recorded financial results were not significantly impacted by the development of polymer prices. After a period of significant increase in the first half of this year polymer prices stabilised and since August have decreased moderately. Based on this fact and taking into account the results achieved since the start of the year, we believe that we will be able to meet the full year guidance.

One of the recent important moments for us was obtaining the prestigious “Supplier of the Year” award from Procter & Gamble given to the six best suppliers from a total of 80,000 in the world. The award confirms the strong position of the Company in the nonwovens market and reflects the future commitment to provide services at a level that will meet the high expectations of our customers. We believe, that apart from this success, our shareholders also appreciated the dividend payment in the amount of almost EUR 8.8 million, which was paid out at the end of October and through which we enabled them to participate in the consistently good financial results of the Company,” said František Rezác, member of the Board of PEGAS NONWOVENS SA and CEO of PEGAS NONWOVENS s.r.o.

PEGAS NONWOVENS SA, société anonyme, L-2320 Luxembourg, 68-70, Boulevard de la Pétrusse, registered in the Luxembourg Commercial Register B 112 044, is a holding company based in Luxembourg with operating companies based in Znojmo and Bucovice, Czech Republic. PEGAS NONWOVENS is a manufacturer of polypropylene / polyethylene nonwoven textiles for the hygiene, industrial, construction, agricultural, medical and other specialized sectors. These textiles are primarily used for the manufacture of baby diapers, feminine hygiene and adult incontinence products.

PEGAS NONWOVENS s.r.o.

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