Adjusted EBITDA in the division rose by 139.5% to PLN 36.4m. This compares with PLN 15m in the equivalent period in 2020.
Sales growth occured as Pianki passed on the high costs of raw materials in the half to its customers, and the commercialisation of FFP2 and FFP3 protective masks. The foam product mix also improved in the half, with more visco foam sold than was the case in the first half of 2021.
Ciech said: 'During the first six months of 2021, the foams segment continued to struggles with the lack of raw materials – in particular polyols and melamine – and the constantly increasing price of raw materials.'
Pianki put its customers on allocation and raised prices. '[The foams segment] proved resilient to the pandemic and furniture factories did not suspend production… and had to accept higher prices for foams,' the company said. Pianki also sold more higher value foam types in the half.
Sales at it parent company Ciech, a conglomerate listed on the Polish stock exchange, were PLN1.7bn in the half of, up 14.53%. EBITDA increased by 92.7% to PLN 407.6m.
These are restated numbers which reflect Ciech's divestment of its glass business earlier in 2021.