Trading conditions remain difficult for Gamma Holding

29 Jul '09

5 min read

Turnover of Filtration amounted to EUR 46 million (half year 2008: EUR 58 million). There was falling demand for filtration products throughout the world, particularly in mining, the chemical and the automobile industries. OEMs operating in various sectors of industry deferred their spending. Sales to the food industry remained stable, however. Filtration launched several new and improved products, including thermoplastic-welded, seamless and hence non-leaking filter bags, metal-ribbed belting for the production of corrugated board and specially sewed filtration belts for horizontal and rotating vacuum filters.

Turnover of Coating & Composites came to EUR 27 million (half year 2008: EUR 38 million). Because of cutbacks on advertising budgets there was a sharp fall in demand, notably for seemee (printable media fabric). Turnover of duraskin (tent and roof structure fabric) also lagged behind, though this was partly offset by the supplying of coated fabric for the 2010 World Cup football tournament in South Africa.

In that connection more than 60,000 m2 of fabric was supplied for the stadium roofing of 'Soccer City' in Johannesburg, while both the roof structure and the frontage were provided for ?Green Point' in Cape Town. Coating & Composites previously supplied the roof structure for the new Rhein Neckar Arena, the stadium of the successful German football club Hoffenheim.

Lifestyle Fabrics
Turnover of Lifestyle Fabrics totalled EUR 141 million (half year 2008: EUR 144 million). Currency movements had a negative effect of EUR 2.1 million.

EBITDA excluding restructuring expenses came to EUR 18.6 million (half year 2008: EUR 20.3 million). Currency movements did not have any effect.

Turnover of Sleep Care Fabrics amounted to EUR 61 million (half year 2008: EUR 70 million). Mattress manufacturers produced less in the first six months, while existing stocks were further reduced. The U.S. market, however, showed a slight recovery. The business unit was again able to introduce a new product at Interzum, the international furniture and interiors industry show in Cologne: Purotex, a patented, revolutionary technology for creating a healthy and clean sleeping environment.

This new mattress fabric contains natural, probiotic microflora which neutralise bed lice allergens and inhibit the development of harmful bacteria. The business unit received for this ecological innovation an Interzum Award for Intelligent Material & Design in the top category 'Best of the Best'.

Exotic Fabrics held its own. The business unit's turnover increased by 8% in the first six months from EUR 74 million in 2008 to EUR 80 million in 2009 as a result of extra sales efforts. This growth was achieved in the first quarter. Turnover in the second quarter was at last year's level. The top brand Vlisco opened a third flagship store in Abidjan (Côte d'Ivoire) and successfully launched its new collection 'Éclat de Nature'. There was also success in Ghana, where a special Obama design was made for a customer to mark the state visit by the U.S. President on 12 July 2009.

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