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Pegas reports 8% sales increase

Company expects polymer prices to impact results going forward.

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By: Karen McIntyre

Editor, Nonwovens Industry

Czech nonwovens producer Pegas Nonwovens reported first quarter sales increased 8% to €44.3 million thanks largely to contributions from its latest line. Meanwhile, EBITDA increased 15% to €9.5 million.

Looking ahead, Pegas expects operating profit to decline as it faces increases in polymer prices. “Although it is not possible to precisely estimate the development of polymer prices, we are currently seeing signs that the market is stabilizing and we strongly believe that we will be able to at least partially eliminate the negative impact of this external factor over the course of the year,” says Frantisek Rezac, member of the board of directors.

In coming months, the company will concentrate efforts and resources on ensuring successful construction of its new plant in Egypt and continuing to optimize its latest line in the Czech Republic, Rezac adds.

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