Profits Up At Fiberweb
Fiberweb announced sales and earnings information for the January-June 2009 period. The company recorded a 17% volume decline with pressure on industrial and airlaid segments mitigated by defensive consumer fabrics performance. Fiberweb saw a revenue decline of 6.8% to €242.5 million, compared to €260 million tallied for the same period in 2008. The decline was attributed to the impact of both the pass-through effect of lower raw material prices and lower volumes. Fiberweb announced an underlying operating profit increase of 21.5% to €10.7 million. Fiberweb’s net operating cash inflow rose 30% to €34.0 million, assisted by strong working capital performance. Net debt was reduced by €26.8 million from year-end to €123.1 million.