Warsaw — Ciech, which owns the flexible foamer Pianki, had total sales of EUR 566.8m in 2018. This is up 1.7% on the previous financial year.
At the same time, EBITDA across the business fell 53.9%. It reached EUR 26.3m in the 2018 financial year.
Sales in the company's organic segment, which includes Pianki, a crop protection business and a curing agents business, rose by 5.1% between 2017 and 2018. They reached EUR 531m in the 2018 financial year. This compares with EUR 505m in the previous year.
Meanwhile, EBITDA across the division rose 9.2%, and reached EUR 11.9m in the 2018 financial year.
The company claims a 16% share of the Polish flexible polyurethane foam market through Pianki. In 2018, it had increased production capacity for PU foams, eliminated production bottlenecks, and completed a warehouse for long foam blocks.
In addition, Ciech is reviewing its businesses, and is believed to be looking at the long-term future of Pianki in the business as it moves towards a greater focus on the chemical industry.
| Ciech numbers 2018 (EURm) | |||
|---|---|---|---|
| Group | 2018 | 2017 | Change % |
| Net Sales | 566.8 | 557.3 | 1.7 |
| EBITDA | 26.3 | 57.1 | -53.9 |
| Margin % | 4.6 | 10.2 | |
| Organic segment | |||
| Sales | 531 | 505 | 5.15 |
| EBITDA | 11.9 | 10.9 | 9.17 |
| Margin % | 2.2 | 2.2 | |
| Source: Ciech | |||
