Home / Knowledge / News / Textiles / Sharp decline in orders bring down 2014 sales at Picanol
Sharp decline in orders bring down 2014 sales at Picanol
12
Mar '15
Sharp decline in orders led to sales at advanced weaving technology manufacturer Picanol Group plunging 25 per cent in 2014 as against in 2013.

In a press release, Picanol said it realised a consolidated turnover of €418.2 million in the full 2014 financial year compared to €559.9 million in 2013, which was the best year in the history of the group.

According to Picanol, the weaving machines division made a hesitant start to 2014 based on the weaker order book at the end of 2013.

“The first half of the year was characterised by a lower demand for weaving machines worldwide, which resulted in a sharp decline in orders compared to the record year of 2013,” it informed.

It added, “The demand for Picanol weaving machines increased in the fourth quarter of 2014 with the technological leadership of Picanol being further bolstered by the weaker euro.”

Lower demand from the weaving machines division also translated into a decrease in turnover for the Industries division in 2014.

However, the decrease in turnover was partly offset by rising sales to other customers, while Industries division strongly focused on engineered casting solutions and its controller capacities.

The Picanol Group closed the year 2014 with a net profit of €52.4 million as against €73.1 million in 2013.

In 2014, Picanol continued to invest in the renewal and modernisation of its production facilities. With further productivity and quality improvements, Picanol aims to improve its competitiveness in Ypres.

In addition to the acquisition of several new finishing machines, Picanol invested in a new test area and a new training center for weaving machines in Ypres.

In 2014, Picanol also celebrated the 20th anniversary of its production plant in Suzhou and over 50 years of presence in the Chinese market.

In the reporting year, the company also participated in a number of international trade fairs where it claims, it confirmed itself as the technological market leader in rapier and airjet weaving machines.

For the first time since the financial year 2007, the board of directors will propose the payment of a gross dividend of €0.1 at the annual general meeting on 15 April 2015, which totals to €1.8 million.

The Picanol Group is currently recruiting some 30 temporary workers for its production site in Ypres, to meet the deadlines on a number of projects.

For the first half of 2015, the Picanol Group expects to realise an increase in turnover, which is expected to be between sales posted in first half of 2013 and revenue posted in first half of 2014. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Pakistan’s FBR imposes 5% sales tax on cotton import

Textiles | On 21st Jul 2018

Pakistan’s FBR imposes 5% sales tax on cotton import

Pakistan’s Federal Board of Revenue recently withdrew sales tax...

Bangladesh drafts policy for Tk1,000 cr govt jute fund

Textiles | On 21st Jul 2018

Bangladesh drafts policy for Tk1,000 cr govt jute fund

Bangladesh will set up a Tk10,000-crore Jute Sector Development Fund...

Cross-border e-com pilot zones in 22 Chinese cities

Apparel/Garments | On 21st Jul 2018

Cross-border e-com pilot zones in 22 Chinese cities

As part of its ‘firm commitment’ to open up, China has identified 22...

Interviews View All

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search