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12% volume hike drives H1 Itema sales
01
Sep '14
Driven by a 12% hike in weaving machine sales, Italian-based manufacturer of weaving machines – Itema posted a 10% growth in revenues in six months to June 30, 2014, from the first half of 2013.

The highest growth came from its Indian subsidiary mainly from major turnaround actions implemented in Q1 2014, Itema said in a press release.

However, a significant slowdown in the Chinese weaving machine market, led to its Chinese operations posting less satisfactory results, Itema added.

The rapier R9500 model, launched less than two years ago, accounted for 50% of all weaving machines sales, Itema informed.

The first half of 2014 also witnessed a 10-year trend reversal of its spare parts business turnover.

Two significant financial parameters; EBITDA and EBIT clocked year-on-year growth of 20% and 27% growth, respectively.

In the period under review, Itema said it launched four new innovative products at ITMA 2014; two new airjet models and two new rapier weaving machine models.

Car-lo Rogora, CEO of Itema said, "This result is remarkable considering that the global weaving machine market declined significantly since fourth quarter of 2013”.

Itema also informed that its lean manufacturing initiative has driven productivity up by 15% coming from the addition of limited resources and investments.

Fibre2fashion News Desk - India

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