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PFNonwovens Announces Financial Results

Revenues up 0.3% in the first nine months of 2019

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By: Tara Olivo

Associate Editor at Nonwovens Industry, Rodman Media

Based on unaudited results, PFNonwovens, a European producer of nonwovens textiles, recorded consolidated revenues of CZK 4.8 billion ($207 million) in the first nine months of 2019, up by 0.3% year-on-year.

Sales volumes in tonnage terms decreased. On the other hand, the development in the price of polymers had a positive effect on the year-on-year development of revenues.

“In the first nine months of this year, EBITDA reached CZK 940.6 million ($40.5 million), representing a year-on-year decline of almost 6%,” says Marian Rašík, chief financial officer and member of the Board of PFNonwovens a.s. “The reason for this decline was primarily poor profit from operations in the second quarter. During the course of the third quarter, we managed to increase inventories of finished products. Also, in the third quarter, commercial production volumes came on line from the newly built production plant in South Africa.  Thus, EBITDA amounted to CZK 334.8 million ($14.4 million) in the third quarter.”

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