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March 27, 2019 12:00 AM

Ciech sales up in 2018 as Pianki's division leads the way

Simon Robinson
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    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
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