Schouw & Co., parent to Fibertex Nonwovens and Fibertex Personal Care, reported sales increased 3% to DKK3.8 billion ($647 million) while profits before tax improved to DKK357 million.
“In the third quarter, we succeeded in retaining the very strong earnings momentum from our operations that we’ve enjoyed for some time now,” says president Jens Bjerg Sorensen. “Revenue was up by a modest 3%, but EBIT soared by a full 25%. This is the result of our constant efforts to optimize the business models of all our portfolio companies and persistently take a long-term view of efficiency, earnings, product development and innovation.”
According to the company, Fibertex Personal Care improved its revenues through an increase in operations at its Malaysian production site while earnings improved due to positive effects of more attractive raw material prices. Construction on a new Malaysian site, announced in spring 2012, is also underway.
Meanwhile, Fibertex Nonwovens has offset softness within the automotive and other industries by increasing its market share selling new products and expanding sales beyond Europe.