Home / Knowledge / News / Textiles / Fibertex reports good first half year overall
Fibertex reports good first half year overall
20
Aug '10
Fibertex upgrades its profit guidance on full capacity utilisation in Personal Care in the second half year.

The improvement was mainly attributable to Martin, as this company reduced its losses relative to 2009 by a substantial margin. Grene and Fibertex also contributed to the improvement, while BioMar, Hydra-Grene and Xergi all reported lower profits relative to H1 2009.

Fibertex reported a good first half year overall. Full capacity utilisation in Fibertex Personal Care for the rest of the year will help to offset the pressure on margins in both divisions caused in the short term by surging raw materials prices. Against this background, Fibertex upgrades its EBIT forecast from the lower end of the previous forecast range to an interval at the upper end of the previous guidance.

Fibertex generated revenue of DKK 821.4 million in H1 2010, compared with DKK 643.0 million in H1 2009. The positive performance was the result of an increase in business activity in both Fibertex Personal Care and Fibertex Industrial Nonwovens, and of higher selling prices caused by higher raw materials prices.

H1 2010 EBIT was DKK 64.0 million as compared with DKK 59.9 million in H1 2009. The main reason why the EBIT performance did not match the improvement in revenue was the development in raw material prices, which especially in the first quarter lifted earnings. The H1 2010 profit before tax was DKK 50.1 million against DKK 46.0 million in H1 2009.

Relative to the end of the first half year of 2009, Fibertex has lowered its net interest-bearing debt by DKK 768.9 million to DKK 771.2 million at June 30, 2010. Net interest-bearing debt at December 31, 2009 was DKK 713.5 million. The change was the result of growing business activity and capacity expansion in Malaysia as well as dividend payments to Schouw & Co. of DKK 30.0 million in the first quarter of 2010.

The overall working capital grew by DKK 69.2 million from DKK 274.2 million at June 30, 2009 to stand at DKK 343.4 million at June 30, 2010. The working capital tie-up at December 31, 2009 was DKK 276.2 million.

Fibertex Industrial Nonwovens
Fibertex Industrial Nonwovens has thoroughly restructured and modernized its production facilities in recent years, launching new and improved products in a bid to build a platform for satisfactory earnings in a competitive market. As a result of these efforts, new super-efficient production lines are now in operation at the factories in Denmark and the Czech Republic. Earnings have improved in the Czech Republic, but the full effects of the new production platform have yet to feed through due to the lower-than-expected demand.

Demand is recovering in the industrial markets following the decline in 2009 and the severe winter that impacted infrastructure construction in Europe in early 2010. Demand is growing in all business segments, but the severe price competition prevails. At June 30, 2010, prices had been raised sharply in order to offset the steeply rising raw materials prices.


Must ReadView All

Courtesy: Stone Island

Apparel/Garments | On 25th Jun 2018

Stone Island has mastered ingredient branding: Braind

Italian high-end men's apparel brand Stone Island tops the list of...

Courtesy: Tecnorama

Textiles | On 25th Jun 2018

'Tecnorama automatic dyeing system offers efficiency'

Italy based Tecnorama’s fully-automatic machinery for dispensing...

Courtesy: Lenzing

Textiles | On 25th Jun 2018

Lenzing launches Veocel nonwoven speciality brand

Leading fibre company, the Lenzing Group has unveiled Veocel, the new ...

Interviews View All

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Nitesh Mittal

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

Lynda Kelly
Suominen Corporation

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

Marten Alkhagen
Swerea IVF AB

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Mike Hoffman
Gildan Activewear SRL

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

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


June 2018

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

news category


Related Categories:

Advanced Search