Home / Knowledge / News / Textiles / Modest profit despite difficult market conditions, Gabriel

Modest profit despite difficult market conditions, Gabriel

30
Dec '09
Gabriel A/S announces the annual report 2008/09.

Gabriel prepared for continuing subdued international demand for textiles for contract furniture.

Statement by management:
Management advised in the preliminary announcement of the financial statements for 2007/08 that “indications from leading clients on the market point to a reduction in demand of about 25% in the 2008/09 financial year.” This proved to be a correct indication, and the downturn may be even greater. Management chose at the time to act quickly and adapt the organisation and the company's costs to ensure earnings and liquidity at the lower level of revenue.

The business model has been further optimised during the year so that earnings will be able to be strengthened significantly when the order intake returns to normal. Management expects continued subdued international demand for commercial furniture in 2009/10.

Summary:
Revenue was DKK 204.7 million (279.7 million).

Operating profit (EBIT) was DKK 2.0 million (DKK 23 million).

Special costs of DKK 3.9 million for employees who were made redundant were charged to the profit and loss account.

Operating margin (EBIT) was 1.0% (8.2%).

The return on invested capital (ROIC) was 1.4% (20%).

Cash flow from operations was DKK 18.5 million (DKK 23 million).

Management expects a revenue of the order of DKK 180 million in the current (2009/10) financial year against DKK 204.7 million in 2008/09 and an improved operating profit (EBIT).

This is a translation of the original Danish text. In the event of discrepancies between the Danish and English texts, the Danish version shall prevail.

Gabriel A/S is northern Europe's leading manufacturer of upholstery textiles.

The company's head office is in Aalborg, Denmark, from where we supply textiles to furniture manufacturers throughout the world.

Gabriel A/S


Must ReadView All

Rajive Ranjan (left), Managing Director, Techno Design GmbH and Technocian Fashions, with Oliver Hein, COO, s.Oliver Group. Pic: PDS Multinational Fashions Limited

Apparel/Garments | On 2nd Dec 2021

PDSMFL (BSE:538730) to source for s.Oliver from India, Sri Lanka

India-based PDS Multinational Fashions Limited (listed on Bombay...

Pic: Sergejsbelovs | Dreamstime.com

Apparel/Garments | On 4th Dec 2021

USTR, AAFA to promote greater near-shoring of apparel production

The office of the United States Trade Representative (USTR) has...

Pic: Yilmaz Savas Kandag | Dreamstime.com

Textiles | On 4th Dec 2021

Top priority is to eliminate CAD & foreign debt: Turkey’s new FM

Turkey wants to boost investments, production and exports, and its...

Interviews View All

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Sustainable and eco-friendly fibres remain in the minority

Vandana Narang, National Institute of Fashion Technology

Vandana Narang
National Institute of Fashion Technology

Campus placements are low due to lockdowns

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry craft and utility

Zayed Moyeen,

Zayed Moyeen

Far East Knitting and Dyeing Industries LTD (FEKDIL) was established in...

Ujjval Saraf,

Ujjval Saraf

Founded by Jimmy Lai, Giordano International Ltd, a Hong Kong based...

Dr. Catherine Tubb,

Dr. Catherine Tubb

Created in 2018 to investigate the risk of market failure related to...

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

<b>Ruma Devi i</b>s a jet-setting promoter of artisans who has empowered...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

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


December 2021

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


Advanced Search