Home / Knowledge / News / Textiles / Turnover of Gamma Lifestyle Fabrics sector rise
Turnover of Gamma Lifestyle Fabrics sector rise
01
Aug '08
Gamma Holding wants to increase focus and scale in its portfolio of companies and in this regard has the intention to divest both Verseidag Ballistic Protection, part of the Coating & Composites business unit, and the Sailcloth business unit.

From this half-year press release onwards, the presentation of these activities has been adjusted in accordance with IFRS 5, Non-current Assets Held for Sale and Discontinued Operations. Results for continuing operations have also been adjusted accordingly.

In the first six months of 2008 Gamma Holding's turnover excluding discontinued operations rose to EUR 375 million (2007: EUR 357 million). This includes a 6% positive effect arising from the acquisition of the Danish company uni-chains. Currency movements had an effect of -5%. Organic growth of turnover was 4%.

EBITA came to EUR 26.3 million (2007: EUR 28.8 million). This includes a limited positive effect arising from the uni-chains acquisition. Currency movements had an effect of -12%. Organic growth of EBITA was 3%. EBITA as a percentage of turnover amounted to 7.0% (2007: 8.1%).

The net group result came to EUR 15.6 million (2007: EUR 17.7 million), due to a lower operating result, higher financing costs and an improved result from discontinued operations. Adjusted to take account of currency effects, the net group result increased by 1%.

Industrial Solutions:
Turnover of the Industrial Solutions sector rose to EUR 231 million (2007: EUR 217 million), including a 10% positive effect due to acquisitions and a -6% effect due to currency movements. Organic growth of the sector's turnover was 2%.

EBITA amounted to EUR 14.5 million (2007: EUR 17.5 million), including a 1% positive effect due to acquisitions and a
-20% efffect due to currency movements. Organic growth of EBITA was 2%. EBITA as a percentage of turnover came to 6.3% (2007: 8.1%).

Belting had to contend with the globally weak economic climate and the low exchange rate of the dollar. Large projects for OEMs were delayed, particularly in the United States and Germany. Nevertheless, turnover rose by 1% on a comparable basis, primarily due to growth in Europe and Asia.

Additionally, turnover increased as a result of the acquisition of the Danish company uni-chains, which specialises in modular belts for industries such as automotive, food and paper processing.

Due to the continued decline of the dollar exchange rate, part of the Danish production will be relocated to the United States, where uni-chains already has production facilities. Belting developed ultrasync belts, specialty belts designed for industrial applications that demand an accurate drive and synchronised transport. These belts are used in the food industry, in packaging lines and in wood processing.

As a result of the declining economy in the United States and the low dollar exchange rate, Filtration's turnover was under pressure. In the United States the business unit mainly had to contend with disappointing developments in the construction sector.


Must ReadView All

Textiles | On 21st Jul 2017

No shortage of cotton & yarn in country: Minister

There is no shortage of cotton and yarn in the country, and the...

Pic courtesy: Sutlej Textiles & Industries Ltd

Textiles | On 21st Jul 2017

Sutlej Textiles’ Q1 FY18 EBITDA expands to Rs 76.28 cr

Sutlej Textiles and Industries Ltd (STIL), one of India’s largest...

Textiles | On 21st Jul 2017

CAI revises 2016-17 cotton crop to 337.25 lakh bales

Cotton Association of India (CAI) has upwardly revised cotton crop...

Interviews View All

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Eamonn Tighe
Nature Works LLC

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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

July 2017

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

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

Yes No

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

Yes No

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


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



X