Pegas Nonwovens S.A. Reports Unaudited Consolidated Earnings and Production Results for the First Quarter Ended 31 March 2017; Provides Earnings Guidance for the Year of 2017
In the first quarter of 2017, the total production output (net of scrap) reached 25,343 tonnes, down by 2.7% compared with the same period in 2016. The decline in production between the compared periods was the result of regular maintenance breaks in the first quarter of 2017.
In the first quarter of 2017, the company achieved financial results that are in line with its expectations and with the announced guidance for the entire year 2017. Based on the results achieved in the first quarter of 2017 and respecting the developments in the European nonwoven textile market, including the expected development in the polymer market, the company confirms previously announced guidance for 2017 and expects this year's EBITDA to be in the range from EUR 43.0 million to 50.0 million. The company is planning for total CAPEX in 2017 not to exceed the EUR 30 million level.