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Weaving segment helps Picanol Group sail through 2012
27
Feb '13
In line with earlier forecasts, the Picanol Group realized a consolidated turnover of 461.75 million euros in 2012, compared to 466.95 million euros in 2011. In the second half of 2012, the Picanol Group realized a turnover of 242.66 million euros, an increase of 10.7% compared to 219.09 million euros in the first six months of 2012. The group closed 2012 with a REBIT of 71.85 million euros, compared to a REBIT of 67.26 million euros in 2011.

As was the case in 2011, the Weaving Machines division experienced a strong year. Despite a hesitant start resulting from the weaker order book at the end of the previous year, 2012 was characterized by a high global demand for Picanol weaving machines.

This was due to, amongst others, the success of the new Picanol weaving machines, the favorable exchange rate of the euro against the yen and the strong global sales and services network. In 2012, the Industries division was commercially successful with both new customers and new orders from existing customers.

The Board of Directors will propose to the General Meeting on 17 April 2013 not to pay out a dividend for the 2012 financial year.

The Board of Directors approved investments at Ypres for an amount of 12 million euros. The plan includes the construction of a new test area for weaving machines and the expansion of the HWS molding line (Industries). In combination with further productivity and quality improvements, the Picanol Group wants to increase its competitiveness with these targeted investments in Ypres.

For the first six months of 2013, the order books for both divisions are well-filled. The outlook for the second half is less clear.

Weaving Machines

As was the case in 2011, the Weaving Machines division experienced a strong year. Despite a hesitant start resulting from the weaker order book at the end of the previous year, 2012 was characterized by a high global demand for Picanol weaving machines.

This was due to, amongst others, the success of new Picanol weaving machines, the favorable exchange rate of the euro against the yen and the strong global sales and services network. In order to handle production peaks, Picanol had to focus strongly on both quality and flexibility in 2012.

Following ITMA Barcelona in September 2011, Picanol successfully participated in a number of international trade fairs in 2012, where it profiled itself as the technological market leader in rapier and airjet weaving machines.

Picanol focused mainly on the new weaving machines – the OMNIplus Summum and positive rapier – as well as its added value in the weaving of technical textiles. The ambition of Picanol will remain to further develop its technological market leadership. Picanol strongly focuses on (weaving) performance, quality, energy consumption, robustness, waste reduction and the ease of use of its weaving machines.

In 2012, the Picanol Group also invested in the further expansion of its global sales and services network, including a new headquarters in India and a new office for Picanol of America. Furthermore, a new warehouse was built at the production site in Suzhou (China) to optimize logistics.

Industries

In 2012, the Industries division was commercially successful with its engineered casting solutions and customized controllers, both with new customers and new orders from existing customers. From the second half of the year, the activities came under pressure due to the increasing economic and financial uncertainty among customers, despite the well-filled order book for the Weaving Machines division.

Picanol

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