PET preforms specialist Resilux (Wetteren / Belgium; www.resilux.com) reported adjusted EBITDA fell 1.7% year-on-year to EUR 20.2m in the first half of 2017, and forecast the full-year figure would be “in line” with 2016, amounting “more or less" to EUR 38m. The figures exclude one-offs, such as the disposal of shares in Airolux (Bilten / Switzerland) in 2016 and the payment of consultancy fees worth EUR 1m related to the now withdrawn plan by Bain Capital (Boston, Massachusetts / USA; www.baincapital.com) to buy Resilux in early 2017 (see Plasteurope.com of 05.05.2016 and 27.02.2017).

Due to elevated volumes, higher average raw material prices, positive currency impact and first-time inclusion of results of the recently acquired Borverk Eurotrade (Belgrade / Serbia), adjusted turnover rose 10.4% to EUR 163.7m in the January-June period.

The company said almost all regions in Europe saw growth, as did North America and Ukraine, with higher sales on the exports markets. Italy, France and Spain had the strongest growth in Europe. Although sold volumes of preforms and bottles grew 6.6%, adjusted “added value” – revenues minus trade goods and raw materials minus services and other goods – expanded only 3.5% at EUR 39.4m on the back of lower inventory of finished goods. Resilux also noted transport and personnel costs had increased. With contractions in EBITDA, earnings before interest and tax (EBIT) and pretax profit, net profit subsequently decreased 3.6% at EUR 8.5m.

The company is also building a plant in Germany that is intended to supply its long-term customer Gerolsteiner Brunnen (Gerolstein; www.gerolsteiner.de) – see Plasteurope.com of 29.08.2017. In addition to Belgium and Serbia, Resilux has production sites in Spain, Greece, Russia, Switzerland, Hungary and the US. It expects to invest EUR 5-7m in the second half of 2017. “For 2018, the outlook is promising and Resilux is determined to present growth again” of the EBITDA, noting there is “positive outlook for growth of EBITDA in the next years.”