Warsaw, Poland – Foam sales at Ciech Pianki grew 5.8% in the first nine months of 2018 compared with the 2017 period, according to a recent filing with the Warsaw Stock Exchange.
Sales for the third quarter of 2018 were PLN 237m ($62.8 m), up PLN 13m on the 2017 period.
The company said that it had managed to partially pass on the continuing high prices of raw materials in the sector.
The foam business, primarily Pianki, is reported in Ciech’s organic segment. The company’s slightly larger resins business and a much smaller crop protection business also report into the segment.
Over the first nine months of 2018, the organic segment had sales of PLN 622m. This converted to EBITDA of PLN 52m.
Ciech also has a significant soda ash and inorganic chemicals business and, in sales terms, this is about three times the size of the organic business. The company’s silicates segment is about one third as big; there is also a transport segment, which is about one-sixth as big as the organic segment.
The whole company recorded sales of PLN 2.6bn in the first nine months of the year. This converted into EBITDA of PLN 563m.
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