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Pegas Nonwovens Posts 3Q Results

February 28, 2011

Pegas Nonwovens closed its third quarter with sales of $54.7 million.In the third quarter of 2010, revenues increased 34.6% compared with the same period in 2009.

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 was $12.4 million in the third quarter of 2010, an increase of 9.6% from the same period last year.

According to the company, 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 19% to $6.9 million. The net profit of the company recorded in the same period was $11 million, an increase of 36.6% from the same period in 2009.
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