OREANDA-NEWS. Leader in the manufacture and sale of nonwovens in Brazil with a significant presence in the Americas and operating globally, Companhia Providencia (BM&FBovespa:PRV13) today announced its results for the third quarter 2013 (3QFY2013). The leading highlight in the period was the increase in Net Income to BRL 10.0 million, a quarter-on-quarter growth of 21.0%.

In its report published this afternoon, the Company also registers an appreciable increase of 25% in EBITDA to BRL 40.1 million from the BRL 32.1 million posted for the preceding quarter and 11% in relation to the same period in 2012. Net Revenue saw a positive year-on-year variation of 26.6%, totaling BRL 211.1 million, also representing a 9.3% improvement over the second quarter of this year.

This positive performance is a reflection of the full use of nonwovens production capacity during the quarter with total sales volume reporting 31,412 tons, a 20.5% rise in relation to the third quarter in 2012. Accumulated output for the first nine months of 2013 was 88,898 tons and beating the accumulated total of 73,742 for the same period in the preceding year. If the figures are analyzed purely on the basis of sales of nonwovens, then distributed volumes posted an increase of 4.4% on the second quarter and 23.7% when compared with the same period in 2012.

The increase in sales is a further result of full capacity utilization at the 13th nonwovens production line at the US operation in Statesville, North Carolina. This additional line ramped up the Company's installed capacity by 20 thousand tons/year. The company expects to improve its product mix by increasing the percentage of items of a higher value added nature. In all, Cia Providencia has a total installed capacity of 140 thousand tons/year of nonwovens.