Home / Knowledge / News / Textiles / H1 results in line with expectations - Picanol Group

H1 results in line with expectations - Picanol Group

28
Aug '12
During the first half of 2012, the Picanol Group realized a consolidated turnover of 219.1 million euros, a decrease of 16% compared to 260.1 million euros in the very strong first half of 2011.

As expected and as announced previously, the Weaving Machines division experienced a hesitant start to 2012 as a result of the weaker order book at the end of 2011. However, in the second quarter the demand for weaving machines increased, supported amongst others by the success of new weaving machines and the weaker euro. The market for new weaving machines is characterized by nervousness, forcing the Picanol Group to focus heavily on flexibility in order to handle production peaks. 

Lower demand from the Weaving Machines division also resulted in a turnover decrease for Industries in the first half of 2012.
 
The group closed the first half of 2012 with a net result of 25.4 million euros compared to 34.6 million euros in the same period in 2011.
 
To successfully meet customer demand in a timely manner, the Picanol Group started a recruitment campaign in July with a view to recruiting 50 workers for the production site in Ypres. In addition, the group currently has some 15 vacancies for technical profiles such as R&D Engineers (Electronics), CNC operators, Field Technicians and various IT functions. 
 
Based on the current order book, the Picanol Group expects an increase in turnover for the second half of 2012 as compared to the same period in 2011. This would limit the decline in turnover over the full 2012 financial year compared to 2011.
 
The turnover of the Weaving Machines division amounted to 185.9 million euros, a decrease of 17% compared to the same period last year. As expected and as announced previously, the Weaving Machines division experienced a hesitant start to 2012 as a result of the weaker order book at the end of 2011. 
 
The global market for weaving machines is characterized by nervousness, which is forcing the Picanol Group to focus heavily on flexibility in order to handle production peaks. However, in the second quarter global demand for weaving machines increased. This was due, among other reasons, to the success of new weaving machines and the weaker euro. Sales of spare parts and weaving accessories decreased in line with the decrease in sales of weaving machines. The operating result of the Weaving Machines division amounted to +30.3 million euros versus +40.4 million euros last year.
 
The turnover of the Industries division amounted to 61.2 million euros, a decrease of 8% compared to the same period in 2011. Lower demand from the Weaving Machines Division also resulted in a decrease in turnover for Industries in the first half of 2012. 


Must ReadView All

Pic: Shutterstock

Textiles | On 24th Jul 2021

5.2 lakh Zimbabwean homes to gain from Pfumvudza cotton inputs scheme

At least 520,000 households in the marginalised zones of Zimbabwe...

Pic: Lanzatech

Textiles | On 24th Jul 2021

US' LanzaTech, Lululemon to make yarn from recycled carbon emissions

LanzaTech has joined hands with Lululemon athletica, an athletic...

Pic: HOdo Group

Apparel/Garments | On 24th Jul 2021

Chinese apparel firm HOdo exports carbon-offset clothing

Apparel brand HOdo has claimed producing and exporting China’s first...

Interviews View All

India-EU Summit, Representatives

India-EU Summit
Representatives

India-EU FTA will provide EU with better access to a huge & rapidly...

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Cannot see the world breaking away from cotton & polyester

Vandana Narang, National Institute of Fashion Technology

Vandana Narang
National Institute of Fashion Technology

Campus placements are low due to lockdowns

Chendhuran Sundar,

Chendhuran Sundar

Headquartered at Singapore, Crocodile is a global fashion and lifestyle...

Simone Morgante,

Simone Morgante

Based out of Como, Italy, and with technological expertise of nearly 70...

Dhirubhai & Arvind Shah,

Dhirubhai & Arvind Shah

It supplies synthetic fabrics to top international brands like M&S,...

Suresh Patel, Non Woven Federation of India

Suresh Patel
Non Woven Federation of India

The Non Woven Federation of India (NWFI), representing the regional...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

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


July 2021

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


Advanced Search