Home / Knowledge / News / Textiles / Strong result at Picanol in ninth consecutive year

Strong result at Picanol in ninth consecutive year

Mar '19
Pic: Picanol Group
Pic: Picanol Group
Picanol Group has reported ninth consecutive year of strong result during 2018. Following an absolute record year in 2017, the Weaving Machines division again experienced an excellent year. The Industries division also had another strong year, which was driven by Weaving Machines and this was mainly due to the strong growth in new projects.

Based on the well-filled order book at the end of 2017, the Weaving Machines division achieved a strong first half-year, with high demand for quality and technology resulting in strong sales. In the second half of the year, increasing geopolitical uncertainty in the markets caused a slowdown in demand for weaving machines.

The Industries division also continues to contribute to the growing diversification of the group by fully focusing on castings and mechanical finishing (Proferro), controller capacities (PsiControl) and precision parts (Melotte). In 2018, Industries continued to further modernise its machine park in order to increase efficiency and quality.

In line with the previously announced forecast, Picanol realised a consolidated revenue of €666.71 million over the full 2018 financial year, a decrease in revenue of 3 per cent compared to the €688.93 million recorded in 2017.

In 2018, the group continued to work in Ypres on the internal Let's Make it Together campaign, which was launched in 2017. With this campaign, the group intends to fully commit to the future and sustainable growth of the Picanol Group in Ypres, focusing on three main pillars: world class manufacturing technologies, a digital company and a human-centered company. In 2018, for instance, further investments were made in Ypres in many new finishing machines, adapted processes and employee training.

For 2019, the Picanol group is taking into account a slowdown in the global weaving machine market. This is due to the current macroeconomic and geopolitical climate, in which customers are more cautious and investment decisions might either be delayed or postponed. For the first half of 2019, Picanol Group expects sales to fall by approximately 25 per cent compared to the first half of 2018.

Due to the cyclical nature of the textile market, strict cost-control remains of the essence. Picanol Group’s reliance on the cyclic textile market has been reduced, as a result of the increased contribution of the Industries division and Tessenderlo Group to the results. (RR)

Fibre2Fashion News Desk – India

Must ReadView All

Pic: Modanisa

Apparel/Garments | On 23rd Mar 2019

European bank invests in Turkish fashion e-com platform

The European Bank for Reconstruction and Development (EBRD) recently...

UNIDO to train cotton farmers in Egypt on sustainability

Textiles | On 23rd Mar 2019

UNIDO to train cotton farmers in Egypt on sustainability

The United Nations Industrial Development Organisation (UNIDO) has...

China to boost investment in Bangladesh: envoy

Textiles | On 23rd Mar 2019

China to boost investment in Bangladesh: envoy

China would facilitate more investment by its companies and small and ...

Interviews View All

Binoy Ravjani, Hero's Fashion

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Top executives, Textile industry

Top executives
Textile industry

Textile institutes need to change their curriculum

Ajay Ghariwala, Luthra Group

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Franco Ravazzi,

Franco Ravazzi

Italy-based Tessimenti E Orditi Tinti (T.O.T SRL) specialises in stocking...

Siddhachakra Weaving (Badiya Fashion),

Siddhachakra Weaving (Badiya Fashion)

Ahmedabad-based Siddhachakra Weaving Pvt Ltd was established in 2011 under ...

Liz Manning,

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Robin Grankvist, OrganoClick AB

Robin Grankvist
OrganoClick AB

Robin Grankvist talks about PFCs, additives and various chemicals used in...

Paolo Ocleppo, Sandvik Hyperion

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

March 2019

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

news category

Related Categories:

Advanced Search