Pegas Nonwovens, the Czech nonwovens producer, is going to spend EUR 18m for investments. It will pay out the dividend, however.
“Decision will be made in May. Our financial results are good enough to invest and pay out dividend at the same time. We want the dividend to grow”, Milos Bogdan, Pegas general director said.
The company, which is listed also on the Warsaw Stock Exchange, paid out EUR 7m of dividend last year.
In 2007, Pegas had EUR 122m of sales and EUR 22.14m of net income, up from
EUR 20.73m. This year, sales should grow by 21-25 percent while EBITDA by 5-9
percent. Before, it was supposed to grow by as much as 16 percent but strong
crown and increasing prices of materials adversely made the company change its
forecasts.