The non-woven fabric manufacturer Avgol is worried by Corona: 3.2% decrease in revenue

The non-woven fabric manufacturer Avgol, which is traded on the Tel Aviv Stock Exchange, reported its financial results for 2019, in which it presented mixed reports with a 3.2% decrease in revenue, along with a 2.8% increase in net profit. The company's 2019 revenue was $ 413.8 million, compared to $ 427.8 million in 2018, with most of its revenue coming from North America and reaching $ 195.5 million for this region.
 The remaining revenues came from Russia, China, Europe, Israel, and the rest of the world - $ 62 million, $ 44.9 million, $ 29.1 million, $ 11.3 million, and $ 70.8 million, respectively.
China accounts for about 20.2% of the company's total production capacity, and the company's revenue from its sales in China is 10.8% of its 2019 revenues. For the first quarter of 2020.
However, the company also notes that if one of the Group's production lines fails, it will be able to support the production it needs from its various factories around the world, and also acquire excess production capacity from competing manufacturers, along with the potential for material damage to its gross profitability.
The company's operating profit was $ 36.8 million in 2019, compared to $ 27.3 million in operating profit in 2018. EBITDA was $ 59.9 million in 2019 and excluding one-off expenses, compared to $ 62 million in the previous reported period.
 The company’s net income was $ 12.2 million or $ 0.041 per share, compared to net income of $ 11.9 million or $ 0.04 per share in 2018.