Pegas Nonwovens S.A. announced consolidated earnings results for the fourth quarter and full year of 2017. In 2017, the company reported consolidated revenues reached EUR 220.8 million up by 7.0% year on year compared to EUR 206.3 million a year ago. EBITDA amounted to EUR 44.7 million down by 4.3% year on year compared to EUR 46.7 million a year ago. The year-on-year decline in EBITDA is related in significant part to the revaluation of the share option plan and its acceleration due to the change of control of the company. EBITDA adjusted for the effect of the revaluation of the share option plan and other one-off items, reached EUR 47.8 million. Profit from operations (EBIT) amounted to EUR 27.3 million, down by 10.8% compared with 2016. Net profit reached EUR 8.7 million in 2017, down by 38.3% year on year.

In the fourth quarter of 2017, the company reported consolidated revenues reached EUR 53.4 million up by 10.0% year on year compared to EUR 48.6 million a year ago. The increase in Revenue was related to the growth in sales volumes resulting from the launch of new production capacities. Revenues were also positively affected by the development in polymer prices, which grew by an average of more than 10% year on year. EBITDA reached EUR 13.7 million, up by 8.7% year-on-year compared to EUR 12.6 million a year ago. The year-on-year increase was related primarily to the impact of the revaluation of the share option plan. Profit from operations (EBIT) increased by 5.9% to EUR 9.0 million. The company recorded a net profit in the amount of EUR 3.5 million.

The increase in production capacity and expected sales volumes leads to raise 2018 EBITDA guidance, which the company is setting to a range between CZK 1.22 billion and CZK 1.38 billion. The company also plans for total CAPEX not to exceed the level of CZK 1.05 billion.