Well-filled order book for first half of 2018
The Picanol Group clocked a consolidated turnover of Euros 688.93 million over the full 2017 financial year, an increase of 8% compared to the Euros 639.78 million recorded in 2016. This has been the best year ever in the history of the Picanol Group.
In 2017, the Weaving Machines division again experienced a record breaking year. The rising demand for quality and technology resulted in strong sales, mainly in Asia, and this led to further market share growth in many countries and weaving market segments. This resulted in Picanol putting a record number of weaving machines on the market in 2017. The sales of spareparts and accessories followed the positive trend of the weaving machines.
The Industries Division (Proferro, PsiControl and Melotte) also showed strong sales growth in various market segments while making an increasing contribution to the group’s turnover. On the other hand, rising material prices and a higher share of subcontracting versus own production had an adverse effect on the result. Within Industries, Proferro continues to modernize its machine park in order to increase profitability and production capacity.
The activities of the Picanol Group resulted in a net profit of 91.64 million euros in 2017 compared to 88.38 million euros in 2016. In addition, Tessenderlo Group NV made a positive contribution to the net profit of 10.07 million euros in 2017 (compared to 31.34 million euros in 2016). The group closed 2017 with a net profit of 101.71 million euros, compared to 119.72 million euros in 2016.
For the first six months of 2018, the order book is well-filled. For the first half of 2018 the Picanol Group expects to realize a turnover in line with that of the first half of 2017, but is taking into account a further negative impact of rising commodity prices.
The Picanol Group currently has some 100 vacancies that are aimed at further strengthening its technological leadership position. The vacancies include roles for CNC operators, field technicians and quality engineers. In addition, the group also has several vacancies for R&D engineers and various positions in IT and Sales & Services. All of the vacancies are published on the website ww.picanolgroup.com.
Beyond Industry 4.0
Currently, the Picanol Group operates in a constantly changing world of ever-increasing complexity, and this creates many challenges. In addition to automation, product development, innovation and quality, of both products and services, agility, teamwork and, above all, smart responses to new technological challenges will be the keys to becoming and remaining successful in the future. The Picanol Group firmly believes in the further growth of its manufacturing industry in Belgium. It is also committed to the future and to sustainable growth, with its employees as the driving force.
In this context, the Picanol Group has launched ‘Let’s Make it Together’ in the course of 2017 to focus in the coming years on three priorities that should help it on its way to becoming the (manufacturing) company of and for the future:
- World class manufacturing technologies: The Picanol Group will continue to invest in future-oriented equipment and efficient logistics processes. At the same time the company wants to create an appealing working environment.
- Digital Company: The group is committed to the digitization of production and processes by capturing, making available and using data efficiently. The use of good hardware and software platforms to support the business processes is of central importance in this context.
- Human-centered company: The Picanol Group strives to emerge an organization in which engaged employees have room for creativity and initiative. They are actively supported in this regard, receiving ongoing training in order to further develop their talents and provide added value.