Pegas Nonwovens Announces Unaudited Consolidated Earnings Results for the Second Quarter and First Half of 2018; Provides Earnings Guidance for the Full Year 2018
For the period, the company reported revenues of CZK 2,984.2 million, compared to CZK 2,992.4 million a year ago. In the first half of 2018, EBITDA amounted to CZK 662.1 million compared to CZK 554.9 million a year ago, up by 19.3% year on year. The year- on-year increase in EBITDA was primarily the result of new production capacity being put into operation in the second quarter of 2017. Likewise, in the first half of this year, the polymer price pass-through mechanism had a positive impact as the price of polymers remained more or less stagnant compared with the growth in polymer prices registered in the first half of last year. Thus, EBITDA, adjusted for the effect of the revaluation of the share option plan, increased by 15.6% year on year to CZK 667.4 million. In the first half of 2018, profit from operations (EBIT) amounted to CZK 431.0 million compared to 332.8 million a year ago. In the first half of 2018, Net profit reached CZK 279.9 million compared to CZK 119.4 million a year ago.
For the full year 2018, with respect to the achieved results in the first half of this year, the company can confirm it's outlook for full year EBITDA in the range from CZK 1.22 billion to 1.38 billion.