Basic HTML Version
22
|
The Textile Magazine
MARCH 2012
Picanol
turnover up 18% even
after facing a tough second half
corporate news
In line with the earlier forecasts, the Picanol Group
realized a consolidated turnover of 466.95 million
euros in 2011, which represents an increase in
turnover of 18 per cent, compared to 395.77 mil-
lion euros in 2010. In the second half of the year,
it realized a turnover of 206.89 million euros, a
decrease of 20.5 per cent compared to 260.06
million euros in the first half. The revenue decline
occurred in both divisions.
The Weaving Machines Division
experienced another strong year in
2011, where the first half in particu-
lar was characterized by a sustained
high global demand for Picanol
weaving machines, also supported
by the favorable exchange rate of
the yen and the weaker euro. In the
second half of the year global de-
mand for weaving machines slowed,
under the influence of the increas-
ing uncertainty due to the European
debt crisis and limited availability of
funding for investments.
In 2011, the Industries Division
was able to continue the positive
trend of 2010 by taking full advan-
tage of its new molding line (Prof-
erro) and its controller capacities
(PsiControl Mechatronics).
Thanks to the strong turnover in-
crease in both divisions over the full
year and a continued cost control,
Picanol managed to close 2011 with
a REBIT of 67.26 million euros,
compared to 47.59 million euros in
2010.
Weaving machines
The first half of 2011 was char-
acterized by a sustained high glo-
bal demand for Picanol weaving
machines, supported by the favo-
rable exchange rate of the yen and
the weaker euro. This resulted in
a strong demand for weaving ma-
chines produced in Ypres, whereby
increased attention was paid to han-
Mr. Luc Tack,
Managing Director, Picanol Group