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The Textile Magazine
MARCH 2012
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fined contributions scheme in con-
nection with the change in pension
fund reduced personnel costs as well
as pension obligations and improved
EBIT/EBITDA by around CHF 27
million and net income by CHF 22
million. Restructuring costs impact-
ed the result by approximately CHF
5 million.
Rolf-D.Schoemezler will be step-
ping down from the Board of Direc-
tors on grounds of age upon expiry
of the present term of office in May.
He joined the Schweiter Group
in 1987 as CEO of SSM Tex-
tile Machinery and has been a
member of the Board of Di-
rectors since 1993. The other
members will be standing for
re-election for a further term
of office.
SSM Textile Machinery’s
net revenues came to CHF
72.9 million (2010: -15 per
cent / -12 per cent after cur-
rency adjustment), while EBITDA
amounted to CHF 8.8 million (-32
per cent), representing a healthy
margin of 12 per cent (15 per cent).
At the beginning of the year, the
previous year’s positive market en-
vironment already started showing
the first signs of slowing down in
the core Asian markets of India and
China. This situation became more
accentuated in the second half of the
year.
Rising cotton prices and more
challenging project financing condi-
tions in China dampened the invest-
ment climate. This contrasted with
better-than-expected trends in Bang-
ladesh and Turkey. The opening up
of attractive new markets in eastern
Europe continued in 2011.
The rise in cotton prices favored
investment in the processing of syn-
thetic fibers, an area in which SSM is
excellently positioned with products
in the air texturing segment. At the
end of the year, this attractive area
of business was further strength-
ened by the acquisition of Giudici.
The company is a leader in false
twist texturizing technology, a sys-
tem for processing ultra-fine nylon
yarn and similar materials. Giudici’s
yarn texturizing technology comple-
ments SSM Textile Machinery’s ex-
isting air-texturizing knowhow.
Product innovations unveiled at
ITMA in Barcelona and brought
to market underline the company’s
technology leadership. High qual-
ity, flexibility and efficiency at all
production sites guarantee enduring
competitiveness and profitability.
All divisions began the new year
at roughly the same level as the pre-
vious year. SSM Textile Machinery
and Ismeca Semiconductor are ex-
pected to see business pick-up in the
second half of the year.
At 3A Composites, extensive re-
structuring measures and organiza-
tional adjustments led to significant-
ly leaner structures and a reduced
cost base. These measures mark the
successful completion of the inte-
gration of the Composites activities
into the Schweiter Group. The full
impact of these cost savings will be
felt from 2012 onwards.
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