Home / Knowledge / News / Textiles / PEGAS starts 2011 with a sold out production capacity
PEGAS starts 2011 with a sold out production capacity
Mar '11
Based on preliminary unaudited results PEGAS NONWOVENS SA, a leading European producer of nonwovens textiles, recorded total consolidated revenues of EUR 148.2 million in 2010, an increase of 20% over the previous year.

In the fourth quarter consolidated revenues amounted to EUR 38.9 million, up by 28.8% over the same period in 2009. The key role in the development of revenues was the rapid year on year growth in polymer prices indices, which in 2010 rose on average by
almost 50%.

Operating profitability before depreciation, interest and taxes measured by EBITDA was EUR 35.2 million, down by 9.2% yoy. The year on year comparison was affected by positive one-off items, which improved the financial results in 2009 and which could not be repeated in subsequent periods.

On the other hand, profitability in 2010 was negatively impacted by the growth in raw material prices, nonetheless this impact was largely compensated for by the Company's solid operating and sales performance and the optimisation of raw material inventories. Excluding these factors, EBITDA would not have shown any substantial changes. In the fourth quarter of 2010 EBITDA grew by 21.6% yoy to EUR 9.7 million.

In 2010 the Company's operating profit declined by 17.5% yoy to EUR 18.9 million. In the fourth quarter it grew by 45% yoy to EUR 5.7 million. In 2010 the Company's net profit grew by 1.1% yoy to EUR 21.0 million, primarily due to FX changes in the compared periods and lower interest costs. In the fourth quarter net profit amounted to EUR 3.4 million contrasting with the loss in the same period in 2009.

"We are pleased to announce strong financial results for the year 2010. We were successful in meeting the indicated guidance on EBITDA despite significant growth in raw material prices in the first half of the year, which affected the Company's operating profitability in the second quarter. We were able to significantly mitigate this negative impact through solid operating and sales performance and an emphasis on the efficiency of our operations.

We entered 2011 with our capacity fully sold out, including the expected capacity from the new production line, which will be put into operation during the course of the third quarter of 2011. The successful launch of the new production line remains one of our main priorities this year," said František Rezác, member of the Board of Directors of PEGAS NONWOVENS SA and CEO of PEGAS NONWOVENS s.r.o.


Must ReadView All

Courtesy: Aditya Birla

Textiles | On 20th Jun 2018

'Growth of VSF yarn industry is difficult'

Growth for the viscose filament yarn (VSF) yarn industry is...

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Apparel/Garments | On 20th Jun 2018

Comfort USP of Sensitive Fabrics range of Eurojersey Spa

Italian company Eurojersey Spa will present in 2019 new embossing...

Certification for Philippine garment firms availing GSP

Textiles | On 20th Jun 2018

Certification for Philippine garment firms availing GSP

The Philippines has adopted rules on securing certificate of...

Interviews View All

Sonia Agarwal

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

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Erik Sy

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Divvya and Nidhhi Gambhir

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


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