LUXEMBOURG AND ZNOJMO, Czech Republic, May 26, 2016-

Based on unaudited results, PEGAS NONWOVENS SA (hereafter „PEGAS” or „Company”), a leading European producer of nonwovens textiles, recorded consolidated revenues of EUR 55.1 million in the first quarter 2016, down by 9.0% yoy.

The reason for the decline in revenues were primarily lower polymer prices in a year-on-year comparison. The prices have presently stabilised and are at long term lows. On the other hand, sales volumes in tonnage terms grew on a yearly basis. Despite this, the levels of inventories of finished products increased moderately in the first quarter of 2016, mainly because of very good production.

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