04.01.19
Based on unaudited results, PFNonwovens a.s. recorded consolidated revenues of CZK 6,484.8 million ($281.3 million) in the year 2018, up by 5.1% yoy. In the fourth quarter of 2018, consolidated revenues reached CZK 1,682.1 million ($73 million), up by 16.2% yoy. This increase in revenues was related to sales volumes. The sales figures were also positively affected by the development in polymer prices, which on average grew by more than 6% yoy. In the fourth quarter of 2018, the company achieved a net profit of CZK 377.7 million ($16.4 million).
"In the fourth quarter, EBITDA reached CZK 347.1 million ($15 million), with the full-year 2018 ending at approximately CZK 1.35 billion ($58.6 million). The achieved result met our target, which for 2018 we had set in the range CZK 1.22 – 1.38 billion. The year-on-year increase in EBITDA was the result of several factors, namely the growth in sales volumes, an improved product mix, with positive support from the polymer price pass-through mechanism. These very good financial results were further bolstered by an increased production capacity compared to 2017, where full-year output in 2018 exceeded last year's number and reached almost 110 thousand tons," says Marian Rašík, member of the Board of PFNonwovens a.s. and chief financial officer of the PFNonwovens Group.
Rašík continues: "As far as our investment projects are concerned, the construction of the South African plant is proceeding according to plan. Currently, we are finishing up building works and finalizing the assembly of the production line. Test operations will be underway in the second quarter, with a gradual ramping up of the line. Excluding any unforeseen events, we will be in commercial production mode by the end of the first half. The Znojmo-Přímětice semi-commercial production line project has entered its realization phase. Building modifications have been completed and currently the production line is in the process of being installed. Everything is continuing according to the approved schedule and commercial operations on the line are planned for the third quarter of 2019. Taking these investment projects into consideration, this year we are again planning to increase our production output and accordingly also the sales volumes."
"In the fourth quarter, EBITDA reached CZK 347.1 million ($15 million), with the full-year 2018 ending at approximately CZK 1.35 billion ($58.6 million). The achieved result met our target, which for 2018 we had set in the range CZK 1.22 – 1.38 billion. The year-on-year increase in EBITDA was the result of several factors, namely the growth in sales volumes, an improved product mix, with positive support from the polymer price pass-through mechanism. These very good financial results were further bolstered by an increased production capacity compared to 2017, where full-year output in 2018 exceeded last year's number and reached almost 110 thousand tons," says Marian Rašík, member of the Board of PFNonwovens a.s. and chief financial officer of the PFNonwovens Group.
Rašík continues: "As far as our investment projects are concerned, the construction of the South African plant is proceeding according to plan. Currently, we are finishing up building works and finalizing the assembly of the production line. Test operations will be underway in the second quarter, with a gradual ramping up of the line. Excluding any unforeseen events, we will be in commercial production mode by the end of the first half. The Znojmo-Přímětice semi-commercial production line project has entered its realization phase. Building modifications have been completed and currently the production line is in the process of being installed. Everything is continuing according to the approved schedule and commercial operations on the line are planned for the third quarter of 2019. Taking these investment projects into consideration, this year we are again planning to increase our production output and accordingly also the sales volumes."
