"Our competitive system operates with respect for people and the environment," said Angelo Radici, president of RadiciGroup. "The financial statement figures show that our group is sound and in excellent financial condition, in spite of the high levels of uncertainty that characterize some of the widely diverse scenarios in which the group operates."
RadiciGroup’s strategy continues to focus on its strategic core business activities – nylon chemicals and synthetic fibres – with the goal of improving its competitive position in the market and achieving an overall balance among the geographical areas where the group operates in order to reduce dependency on single markets and boost cash flow to reduce debt and finance new initiatives in crucial markets.
The results of the specialty chemicals business area showed a positive trend in sales compared to 2016 in terms of both volumes and average prices for the two main product areas: polymers and adipic acid. Sales revenue increased by 35 per cent compared to 2016, aided by average sales prices, which followed the main raw materials cost trend, and, most importantly, by high market demand.
The synthetic fibres and nonwovens business area produces numerous kinds of products, from polyester yarn to nylon yarn, artificial grass yarn and nonwovens, materials used in a variety of industries, among which automotive, apparel and furnishings. The global sales revenue of this business area went from €412 million in 2016 to €451 million in 2017, an increase of over 9 per cent.
"Our 2017 results are very positive and show higher group growth compared to 2016, which has strengthened our balance sheet," stressed Alessandro Manzoni, CFO of the group. "We are also very pleased with the results of the first half of 2018, which rose compared to the same period of 2017. However, in the second half of the year, we are in a more cautious position due to the new climate of political uncertainty, which, naturally, has an impact on markets, as well. The group’s financial position is extremely solid."
"Our group is capable of creating wealth for all its stakeholders. But, at the same time, is also engaged in cutting back on the resources used to create such wealth. I believe this virtuous interplay has allowed our enterprise to grow in a truly sustainable way. Additionally, we continue investing to support the competitiveness of group companies: towards this goal, during the last 5 years alone (2014-2018), we have invested €210 million, of which €50 million during the current year," concluded Radici. (RR)
Fibre2Fashion News Desk – India
| On 12th May 2021
While the global growth outlook has improved, led by robust rebound...
| On 12th May 2021
Millions of new remote and hybrid-remote workers, kids returning to...
Uzbekistan exported textile products worth $637.7 million to 54...
India-EU FTA will provide EU with better access to a huge & rapidly...
Farmers who produce seeds earn 50 per cent more
Tech in fashion industry has hit acceleration button
Dhruv Toshniwal & Udit Toshniwal
Launched a year ago, Fashions Pvt Limited conceptualises and sees D2C...
Dr. Vijaya Kumar
Dr MM Kariappa founded the Vogue Institute of Art & Design in 1996....
Delhi-headquartered Cantabil Retail India Ltd was founded by Vijay Bansal...
Kevin Young & Tom Lucas
Web Industries is a precision formatter of nonwoven materials used in baby ...
Thomas Ong P S
Malaysian company NanoTextile Sdn Bhd taps into the potentials of...
Garware Technical Fibres
Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...
Label Archana Jaju
<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...
Ramya Rao & Kavea R Chavali
<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...
A Humming Way
A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.
Download Free Report
Rising Opportunities in Technical Textiles Market: 2020-2026
Thank you for showing interest in our free report on 'Rising Opportunities in Technical Textiles Market: 2020-2026'
You will receive an email shortly with a link to download the report and in case if you don't receive our email, you can write back to email@example.com.