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Pegas Nonwovens reported sales increased 7.9% to €43.7 million during the third quarter, driven largely by growth in polymer prices.
December 2, 2011
By: Karen McIntyre
Editor
Third quarter EBITDA grew 17% reaching €10.8 million. “The significant growth in polymer prices that negatively affected our profitability in the first half of the year reversed in June and prices started to decline. This development had a positive effect on our financial results in the third quarter,” says CEO Frantiek Rezac. In the third quarter of 2011, profit from operations (EBIT) amounted to EUR 8.6 million.
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