PFNonwovens: Stable consolidated sales for H1...
PFNonwovens

Stable consolidated sales for H1/2019

PFNonwovens

Based on unaudited results, the nonwovens producer PFNonwovens a.s. (previously Pegas Nonwovens a.s.), Znojmo /Czech Republic, recorded consolidated sales of almost CZK 3.16 billion (approx. €122 million) in the 1st half (H1) of 2019, which is comparable with the same period 2018 (CZK 3.16 billion).

EBIT in H1/2019 amounted to CZK 353.2 million (€13.7 million), down by 18% over H1/2018. Net profit in H1/2019 amounted to CZK 246.8 million (€9.56 million) down by 11.8%. In the 2nd quarter (Q2) of 2019, the company achieved a net profit of CZK 44.6 million (Q2/2018: CZK 171.7 million).
The main reason for the year-on-year decline was lower production volume, declining by almost 1,300 tons relative to the comparable period last year, caused primarily by a very low level of inventories of finished products, which prevented effective production. The polymer price pass-through mechanism, likewise, had a negative effect on a year-on-year basis.

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