Home / Knowledge / News / Textiles / Picanol Weaving Machines experiences a strong year in 2010
Picanol Weaving Machines experiences a strong year in 2010
10
Mar '11
The consolidated turnover of the Picanol Group for the 2010 financial year amounts to 395.77 million euros, an increase in turnover of 58% compared to the turnover of 250.23 million euros in 2009.

The turnover of Picanol NV increased by 55% from 170.21 million euros in 2009 to 264.08 million euros in 2010, mainly as a result of a strong increase in the volume of weaving machines sold. The contribution of Picanol NV's turnover to the consolidated turnover totals 66.7% in 2010.

The gross profit of the Picanol Group for the 2010 financial year was 81.94 million euros, compared to 23.62 million euros in 2009. The gross margin increased from 9.4% to 20.7%, mainly because the fixed production costs did not increase in line with the higher turnover.

As a result of the strong increase in turnover, a further decrease in the general and administrative costs and leaving out the the restructuring costs, the operating result increased from -28.17 million euros in 2009 to 46.73 million euros in 2010. The operating result in 2009 included restructuring costs of 12.02 million euros.

Weaving Machines
The Weaving Machines division experienced a strong year in 2010, mainly as a result of the quicker than expected recovery of the weaving machine market in Asia. Particularly in China, the market for locally produced machines started to recover at the end of 2009. The facility in Suzhou (China) was the first to profit from the improving Chinese market. From the second quarter, exporting textile companies were also running at a cruising speed.

This resulted in a recovery in the demand for weaving machines produced in Ypres. In the second half of 2010, the market remained good, which was also due to the favorable exchange rate of the Euro. In the fourth quarter of 2010, the Chinese demand for weaving machines slowed down; one of the reasons being the continuously increasing price of cotton and the volatile exchange rates. However, this effect was compensated for by an increasing demand from other regions in the world. Sales of spare parts and weaving accessories also profited from a favorable market in 2010.

Industries
After a difficult first quarter, the Industries division showed a clear recovery from the second quarter of 2010, profiting from a gradually improving economic climate. In 2010, Proferro successfully implemented a new molding line, with larger molds and an automated cast iron transport. As a result of the marketing campaign for the new molding line and a clearer marketing presence, Proferro managed to reach new sectors and customers.

PsiControl Mechatronics mainly showed growth in an increase in R&D activities and an improving demand for electronic products and assemblies. This all resulted in a rise in activities in various sectors, such as compressors, earthmoving equipment, textile machines and HVAC (heating, ventilation & air conditioning).

As a result ofthe strong increase in turnover in both divisions, continued efforts to keep the cost price low, a strict monitoring of the fixed costs and improved productivity in the Industries division, the Picanol Group managed to close the 2010 financial year with a net profit of 35.24 million euros, compared to a net loss of -23.52 million euros in 2009.


Must ReadView All

Israeli minister announces tax cuts on consumer goods

Apparel/Garments | On 14th Dec 2017

Israeli minister announces tax cuts on consumer goods

The Israeli Government will slash taxes by $227 million, finance...

Courtesy: Kelvin Techstyles

Apparel/Garments | On 14th Dec 2017

Kelvin Techstyles fuses style and function in city apparel

Fusing style and function in outdoor clothing, Roseville,...

India’s WPI inflation for textiles up 0.3% in Nov 2017

Textiles | On 14th Dec 2017

India’s WPI inflation for textiles up 0.3% in Nov 2017

India’s annual rate of inflation, based on monthly wholesale price...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Urmil Arya

Sushila International, a well established textile organisation established ...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kerem Durdag
Biovation II LLC

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

December 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

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

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
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

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
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

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
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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