Itema's 2015 results beat expectations

11 Apr '16

2 min read

Itema Group, an Italian weaving technology solutions provider, recorded third consecutive year of positive results, beating expectations, with total sales up 11 per cent as compared to 2014, weaving machine sales up 14 per cent y-on-y, spare parts turnover up 4 per cent y-o-y and earnings before tax up 30 per cent, according to a press statement released by the company.

The company recorded positive results because of increased efficiencies and continued cost reduction measures. It sold 80 per cent more looms in 2015 as compared to 2012, and the profit and cash flow for the company soared exceeding expectations.

Commenting on the 2015 results, Carlo Rogora, CEO of Itema Group said, “I am especially proud to announce yet another year of brilliant results at Itema Group. This is a truly remarkable milestone, for which I also thank shareholders, customers, employees, agents, suppliers and partners worldwide for each and everyone's contribution to our success.”

“The milestones are too many to mention, but centre stage are our new product launches, market share gains across all the three weft insertion technologies in important markets, an excellent ITMA show last November and a packed order book post ITMA,” he said.

“We remain focused not only on meeting and exceeding weavers' needs, but on going beyond, anticipating future market requirements. With our shareholders' full-fledged support, we continue to concentrate our extensive R&D efforts on offering better, smarter, faster solutions, increased performances, reduced consumption and enhanced user-friendliness,” he added. (MCJ)

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