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Picanol Group Increases Turnover by 11% in the First Half of 2017

By   /   August 30, 2017  /   No Comments

Ypres, Belgium – The Picanol Group is an international, customer-oriented group specialized in the development, production and sale of weaving machines, engineered casting solutions and custom-made controllers. The group develops, manufactures and sells through Weaving Machines (Picanol) high-tech weaving machines, based on air (airjet) or rapier technology. It supplies weaving machines to weaving mills worldwide, and also offers its customer such products and services as training, upgrade kits, parts and service contracts. For more than eighty years, Picanol has played a pioneering role in the industry.

WELL-FILLED ORDER BOOK FOR SECOND HALF-YEAR

  • In line with the previously announced forecast, the Picanol Group (Euronext: PIC) realized a consolidated turnover of 364.7 million euros in the first half of 2017, an increase of 11% compared to 329.7 million euros in the first half of 2016.

The Weaving Machines division again experienced a strong first half in 2017, having ended 2016 with a well-filled order book. Increasing demand for technology and quality brought strong sales, especially in Asia, with market share increases in many markets. As a result, Picanol placed a record number of weaving machines on the market in H1 2017. The Industries division also had a strong first half-year thanks to the increased demand from Weaving Machines and projects at other customers, which allowed Proferro (foundry and mechanical finishing activities) and PsiControl (controllers) to realize strong revenue growth. These activities resulted in the first half of 2017 in a net profit of 52.2 million euros compared to 48.1 million euros in the same period in 2016. In addition, Tessenderlo Group nv contributed 5.8 million euros to the net result in the first half of 2017 (compared to 12.3 million euros in the same period last year). The Picanol Group closed the first half of 2017 with a net profit of 58.1 million euros, compared to 60.4 million euros in the first half of 2016.

  • The Picanol Group expects a slight increase in turnover over the full 2017 financial year compared to 2016 – the best year in the history of the group – but is taking into account a limited impact of rising commodity prices.
  • The Picanol Group has currently some 40 vacancies at its headquarters in Ypres.

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Source: Picanol Group

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