Pegas Nonwovens S.A. announced consolidated earnings results for the fourth quarter and full year of 2016. The company recorded consolidated revenues of EUR 206.4 million in the year 2016 compared to EUR 229.2 million a year ago. In 2016, EBITDA amounted to EUR 46.7 million, up by 5.3% year-on-year, compared to EUR 44.3 million a year ago. This result means that the Company achieved its target, which it had set in the range of EUR 43.0 -­ 49.0 million. The year-on-year growth in EBITDA is related in large part to the revaluation of the share option plan, which, in 2016, had a less negative impact than in the previous year. EBITDA adjusted for this effect, grew by 1.4% to a record EUR 48.0 million. The increase in EBITDA was also supported by record production volumes, which grew by 1.0% year-on-year. In 2016, profit from operations (EBIT) amounted to EUR 30.6 million, up by 8.2% compared with 2015 of EUR 28.3 million. Net profit reached EUR 14.8 million in 2016, down by 40.6% compared to EUR 25.0 million a year ago. The lower net profit was related namely to unrealised foreign exchange changes booked in the compared periods. In the fourth quarter of 2016, consolidated revenues reached EUR 48.6 million, down by 18.4% year-on-year from EUR 59.6 million a year ago. The decline in Revenue was related to the development of polymer prices, which, when compared to the preceding year, fell by more than 10%. In the fourth quarter of 2016, EBITDA reached EUR 12.6 million, down by 13.7% year-on-year from EUR 14.6 million a year ago. In the fourth quarter of 2016, profit from operations (EBIT) declined by 18.6% year-on-year to EUR 8.5 million from EUR 10.5 million a year ago. In the fourth quarter of 2016, the company recorded a net profit in the amount of EUR 1.8 million, down by 77.7% compared to EUR 8.1 million a year ago.