Pegas records revenue of €55.8m in Q1 2017

摘要

Pegas Nonwovens SA recorded consolidated revenue of €55.8m in the first quarter of 2017, up by 1.2% on a year-on-year basis. However, in the first quarter of this year, profit from operations amounted to €7.1m, down by 5.5% compared with the first quarter of 2016. However, in the first quarter of 2017, EBITDA (earnings before interest, tax, depreciation and amortisation) amounted to €11.3m, down by 3.0% on a year-on-year basis. This result is in line with the guidance range announced at the beginning of the year, when the company indicated an increase in EBITDA in the range from €43-50m. The slight year-on-year decline in EBITDA was primarily caused by lower production volumes resulting from regular maintenance breaks. Likewise, the polymer price pass-through mechanism had a slightly negative impact as a result of the rising price of polymers in the first quarter of this year compared to the stable polymer prices in the first quarter of last year. The impact of the revaluation of the share option plan in the first quarter results of 2017 was also slightly negative, said Pegas.