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

Two slabs of GST will affect Bengaluru garment units: SIGA

Apparel/Garments | On 23rd Jan 2018

Two slabs of GST will affect Bengaluru garment units: SIGA

The South India Garment Association (SIGA) has voiced its concern...

US FTC updates textile rules to drop obsolete requirement

Textiles | On 23rd Jan 2018

US FTC updates textile rules to drop obsolete requirement

The US Federal Trade Commission has eliminated an obsolete provision...

Indian textile industry at inflection point: Report

Textiles | On 23rd Jan 2018

Indian textile industry at inflection point: Report

The textile and apparel sector of India is at an inflection point...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

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

January 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search