Pegas Nonwovens Q1 revenues boost 17.8% to €58.8mn

Based on unaudited results, PEGAS NONWOVENS SA, a leading European producer of nonwovens textiles, recorded consolidated revenues of EUR 58.8 million in the first quarter 2014, up by 17.8% yoy.

 

Based on unaudited results, PEGAS NONWOVENS SA, a leading European producer of nonwovens textiles, recorded consolidated revenues of EUR 58.8 million #

The year-on-year revenue growth was the result of increased sales levels of finished products on the back of production from the new production line in Egypt. In the first quarter of 2014 and 2013, the levels of inventories of finished products declined. 

 

Based on unaudited results, PEGAS NONWOVENS SA, a leading European producer of nonwovens textiles, recorded consolidated revenues of EUR 58.8 million #

Operating profitability before depreciation and amortization, interest and taxes measured by EBITDA was EUR 12.3 million, up by 21.8% yoy. This result is in line with the guidance range announced at the beginning of the year, when the Company indicated a year-on-year increase in EBITDA of 12% to 22%. The EBITDA increase was achieved namely due to the contribution of the new Egyptian production plant. The result was also supported by a weaker CZK/EUR exchange rate.

 

Based on unaudited results, PEGAS NONWOVENS SA, a leading European producer of nonwovens textiles, recorded consolidated revenues of EUR 58.8 million #

In the first quarter of this year the Company's operating profit grew by 19.7% to EUR 8.6 million and it was affected by the higher EBITDA level.

 

Based on unaudited results, PEGAS NONWOVENS SA, a leading European producer of nonwovens textiles, recorded consolidated revenues of EUR 58.8 million #

Net profit amounted to EUR 5.5 million representing a yoy increase of 85.7%, primarily a consequence of higher EBITDA and lower unrealized foreign exchange losses.

 

Based on unaudited results, PEGAS NONWOVENS SA, a leading European producer of nonwovens textiles, recorded consolidated revenues of EUR 58.8 million #

"We see the financial results of the first quarter as very positive. The contribution of the Egyptian production line that went into full commercial production at the start of January has been almost entirely reflected in our figures now. We are glad that since the beginning of the year we have been meeting our targets in the area of our product mix, but also primarily in production efficiency. During the course of the first three months of the year we have also been getting on well in the area of sales. Inventories of finished products at our Czech plants have been reduced beyond our expectations and this fact provided considerable support to our financial results in this period.

 

Based on unaudited results, PEGAS NONWOVENS SA, a leading European producer of nonwovens textiles, recorded consolidated revenues of EUR 58.8 million #

We consider the achieved results to be solid ground for the upcoming months and believe that we will be successful in achieving all the goals that we have set ourselves for the rest of the year," said František Rezác, CEO and Member of the Board of PEGAS NONWOVENS SA.

 

Based on unaudited results, PEGAS NONWOVENS SA, a leading European producer of nonwovens textiles, recorded consolidated revenues of EUR 58.8 million #