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Picanol Group reports FY19 revenue of €2,221 million

Mar '20
Pic: Picanol Group/ Melotte
Pic: Picanol Group/ Melotte
Picanol Group, a diversified industrial group, reported 3 per cent revenue decline to €2,221 million in full fiscal 2019 compared to revenue of €2,287.6 million in prior year. Machines & Technologies revenue fell 28 per cent to 478.4 million reportedly due to the global slowdown in the machine market, driven by the uncertain macroeconomic climate. 
Agro revenue remained stable at €602.8 million, while the revenue of Bio-valorisation increased 7.5 per cent to €543.1 million due to the performance of PB Leiner. The revenue of Industrial Solutions increased 1.2 per cent to 526.0 million due to the contribution of Dyka Group, as reported. T-Power, only fully acquired in fourth quarter, contributed €71.1 million to the 2019 revenue, which was in line with the company’s expectations.
The profit for FY19 fell to €41.7 million compared to €110.9 million in prior year. Gross profit for the year was €455.6 million compared to €547.5 million in prior year.

Fibre2Fashion News Desk (JL)

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