Home / Knowledge / News / Textiles / Gamma Holding continues positive trend
Gamma Holding continues positive trend
30
Jul '10
Gamma Holding announced positive result of first half 2010. The positive trends that tentatively emerged at the end of last year have clearly been prolonged in the first half of 2010. Our lower cost basis and the recovery of the majority of the markets in which we operate have led to a further improvement in income. Barring unforeseen circumstances, we expect the positive trend to continue in the second half of 2010.' Jan Albers, CEO

Half-year report of the Executive Board

Turnover rose in the first six months of 2010 by 15% to € 371 million (first half of 2009: € 322 million). This includes a positive effect of € 5.7 million arising from currency movements.

EBITDA1 of the group excluding restructuring expenses increased by 89% from € 25.6 million in the first half of 2009 to € 48.5 million in the first six months of 2010. Currency movements had a positive effect of € 0.9 million.

EBITA2 excluding restructuring expenses and impairment tripled to € 33.7 million (first half of 2009:
€ 11.0 million).

The restructuring expenses, which related mainly to Clear Edge Filtration, totalled € 6.6 million (first half of 2009: € 9.3 million). There was no impairment of property, plant and equipment and intangible assets in the reporting period (first half of 2009: € 22.1 million).

Financial income and expense came to € -17.8 million (first half of 2009: € -17.3 million). Income tax totalled € -6.9 million (first half of 2009: € -1.8 million). The effective tax rate in the first six months of the year was 83% (first half of 2009: -5% on a loss before income tax). This high effective tax rate is mainly due to tax losses that cannot be offset, principally in Europe, in combination with a relatively low result before taxation.

The net group result improved in the first six months to € 1.4 million (first half of 2009: € -53.3 million).

Developments per business unit

The turnover of Ammeraal Beltech (including PTFE) increased by 14% to € 135.0 million (first half of 2009: € 118.7 million). EBITDA1 excluding restructuring expenses came to € 13.6 million (first half of 2009: € 5.2 million). The business unit benefited from a recovery in the United States and Asia, while the European market also picked up slightly. There was a consequent increase in sales of, in particular, modular belts, timing belts and lightweight rubber belts.

Ammeraal Beltech developed, specifically for the food industry, Soliflex PRO, a new series of durable, hygienic, homogeneous, solid belts which, thanks to a unique combination of materials and drive lugs on the underside of the belting, is extremely easy to clean and is hence cost-saving. In addition, the AmWrap, belting that is especially suitable for coil wrapping of hot aluminium sheeting, was brought onto the market.

At Clear Edge Filtration turnover increased by 19% to € 54.4 million (first half of 2009: € 45.5 million). EBITDA1 excluding restructuring expenses totalled € 6.8 million (first half of 2009: € 0.3 million). Demand for filtration products rose in Asia Pacific and America. The extra focus on Original Equipment Manufacturers (OEMs) and targeted end users, as well as the benefit of lower operating expenses, contributed to the positive result.


Must ReadView All

Global economic upswing became broader & stronger: IMF

Textiles | On 19th Apr 2018

Global economic upswing became broader & stronger: IMF

The global economic upswing that began around mid-2016 has become...

Courtesy: ITMA

Textiles | On 19th Apr 2018

ITMA 2019 expanding space due to overwhelming response

Due to overwhelming response, the exhibition space has been increased ...

BIDA’s Europe trip to showcase a different Bangladesh

Apparel/Garments | On 19th Apr 2018

BIDA’s Europe trip to showcase a different Bangladesh

The Bangladesh Investment Development Authority (BIDA) is taking a...

Interviews View All

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Harsh Shah

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

Marten Alkhagen
Swerea IVF AB

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

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Bani Batra

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

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

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


April 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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
7.8%
Skip
9.7%

Total Votes: 103


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