Loading...
You are here:  Home  >  Enewsletter  >  Current Article

Picanol Group Reports Seventh Consecutive Year of Strong Results: 119 Million Euro Profit in 2016, Best Result Ever

By   /   March 10, 2017  /   No Comments

Ieper, Belgium – In line with the previously announced forecast, the Picanol Group realized a consolidated turnover of 639.78 million euros over the full 2016 financial year, which represented an increase in turnover of 20.8% compared to the 529.34 million euros recorded in 2015. This means that the Picanol Group outperformed its previous record year (a turnover of 559.98 million euros was recorded in 2013), and this all took place in the year that Picanol Group celebrated its 80th anniversary.

Positive Outlook for 2017 based on a Well-Filled Order Book

In 2016, the Weaving Machines Division experienced a record breaking year. The growing demand for quality and technology created strong sales and an increased market share in many markets. This resulted in Picanol putting a record number of weaving machines on the market in 2016, thereby especially focusing on dealing with production peaks. The Industries Division also had a strong year and increased its contribution to the group result thanks to a higher turnover in various sectors. This allows the Picanol Group to achieve its strategic ambition to further diversify the activities of the group.

The Picanol Group activities resulted in 2016 in a net profit of 88.38 million euros compared to 60.6 million euros in 2015. In addition, Tessenderlo Chemie nv contributed 31.34 million euros to the net result in 2016 (compared to 25.09 million euros in 2015). The group closed 2016 with a net result of 119.73 million euros, compared to 85.69 million euros in 2015.

■ The board of directors will propose the payment of a gross dividend of 0.1 euros (as in the previous year) at the annual general meeting on April 19, 2017, for a total amount of 1.77 million euros.

■ For the first six months of 2017, the order book is well-filled. The Picanol Group expects a slight increase in turnover for the first half of 2017 compared to the first half of 2016, but is taking into account a limited impact of rising commodity prices.

■ Currently, the Picanol Group has some 40 vacancies for its headquarters in Ypres. The vacancies are published on the website www.picanolgroup.com.

Weaving Machines

In 2016, the Weaving Machines Division experienced a record breaking year. The growing demand for quality and technology created strong sales – mainly in Asia and Europe – and an increased market share in many markets. This resulted in Picanol putting a record number of weaving machines on the market in 2016, thereby especially focusing on dealing with production peaks. The sale of parts and accessories followed the positive trend of the weaving machines.

In 2016, the OptiMax rapier weaving machine was taken out of production and replaced by the OptiMax-i, which was launched in 2015 and is the fastest rapier weaving machine in the world that is series-produced.

In 2016, Picanol further invested in the renovation and modernization of its production facilities, including the upgrade of the automated warehouse and the logistics systems. In combination with further productivity and quality improvements, Picanol aims to enhance its competitiveness through these targeted investments in Ypres.

Industries

The Industries Division also had a strong year thanks to good growth in various sectors. Both Proferro and PsiControl were commercially successful with new customers and new orders from existing customers. On the other hand, Proferro was faced with a difficult economic situation in sectors such as agriculture.

In 2016, the Industries Division further invested in the renovation and modernization of its technology and production facilities. Proferro invested, for instance, in various CNC machines in the finishing department, including a new fiber laser machine for the production of rapier components. The investments of PsiControl in 2016 included new 3D Automated Optical Inspection (AOI) installations.

To view the full article click here

Source: Picanol Group

    Print       Email

Leave a Reply

Your email address will not be published. Required fields are marked *