From the Sector

Rieter has placed a bond of CHF 65 million with a term of five years and a coupon of 3.5%. The net proceeds of the issue will be used for general corporate purposes. “The bond also extends the maturity profile of our debt financing and increases the diversification of the investor base as well as our strategic flexibility,” said Oliver Streuli, Rieter Group CFO.

The bond was issued by UBS, Zürcher Kantonalbank, Commerzbank and Basler Kantonalbank. The bond will be listed on the SIX Swiss Exchange.

The LYCRA Company, a leader in developing innovative and sustainable fiber and technology solutions for the apparel industry, presented the first garment and fabric samples made with seed quantities of bio-derived LYCRA® EcoMade fiber at Kingpins Amsterdam. This highly anticipated fiber is launching in the first half of 2025 and will be the world's first large-scale production of renewable elastane.

Bio-derived LYCRA® EcoMade fiber is made with 70 percent renewable content, certified under the USDA Bio-Preferred Program. Garments and fabrics made with this fiber deliver equivalent performance to those made with original LYCRA® fiber, and no re-engineering of fabrics, processes, or garment patterns is required.

“There’s no need to sacrifice performance for renewable content with bio-derived LYCRA® EcoMade fiber,” said Nicolas Banyols, chief commercial officer of The LYCRA Company. “We are committed to transitioning to renewable resources as a key part of our sustainability strategy, and it can help brands and retailers reduce their environmental impact, too.”

With the publication of the half-yearly figures for 2024, SGL Carbon already announced that the company expects to achieve its adjusted EBITDA guidance for fiscal year 2024 at the lower end of the range of €160 to 170 million. Based on the preliminary figures for the first nine months of the fiscal year 2024, SGL Carbon confirms this statement.

According to preliminary figures, Group sales of SGL Carbon for the first nine months of fiscal year 2024 decreased by 4.8% year on year to €781.9 million (9M 2023: €821.7 million). Preliminary adjusted EBITDA, on the other hand, remained at a comparable level to the prior-year period, at €127.6 million (9M 2023: €130.0 million). Despite the slight sales decline, the adjusted EBITDA margin improved to 16.3% after nine months in 2024 (9M 2023: 15.8%). The reasons for the improved adjusted EBITDA margin are, in particular, product mix effects in the Graphite Solutions and Process Technology business units. By contrast, the ongoing weakness in demand for carbon and textile fiber products in the Carbon Fibers business unit and the early termination of a customer contract at Composite Solutions weighed on the Group's sales and earnings development.

The business unit Carbon Fibers manufactures carbon and textile fibers for the wind and automotive industries as well as various industrial applications. As expected by the Company for the fiscal year 2024, demand for carbon fibers from the wind and automotive industries remains weak. In addition, there is increasing competitive and price pressure due to global overcapacity for both carbon fibers and textile fibers. The company does not expect demand to recover in the coming months and the realizable prices for these products will remain at a low level beyond 2025. Furthermore, SGL Carbon expects that the anticipated improvement in sales and earnings for the Carbon Fibers business unit will be delayed and is revising its existing medium-term planning for Carbon Fibers.

Due to the associated expected deviation an event-driven impairment test is currently being carried out. This indicates a non-cash impairment charge of €60–80 million, which will be recorded in the fourth quarter of 2024. The impairment relates exclusively to Carbon Fibers; the operating business of the other business units is not affected.

SGL Carbon's equity ratio after the impairment is approx. 40% (September 30, 2024: 43.3% according to preliminary figures).

The review of all strategic options for the Carbon Fibers business unit, which was announced by SGL Carbon on February 23, 2024, and has already begun, remains unaffected by the impairment and is currently continuing.

The Integrated Regulatory Strategy (IRS) has increased the knowledge on chemicals and sped up identification of substances for which regulatory risk management actions are required. Refocussed IRS 2024-2028 will continue moving substances to risk management.

ECHA’s Integrated Regulatory Strategy aimed to speed up data generation, identification of groups of substances of concern, and regulatory action. It did so by integrating different regulatory processes into one approach to manage chemical risks effectively and efficiently. The strategy also encouraged collaboration between ECHA, Member States authorities and the European Commission.

The original goal of the IRS was achieved: to clarify which REACH registered substances are a high priority for regulatory risk management or data generation, and which are currently a low priority for further regulatory action.

ECHA’s sixth and final report of its Integrated Regulatory Strategy 2019-2023 shows that it achieved its goal of screening high production volume chemicals, manufactured or imported above 100 tonnes per year, that were on the European markets in 2018.

Since 2019, ECHA has grouped and screened 6 000 substances, and addressed almost all of the 4 100 high production volume chemicals. Around 1 900 of substances screened in ECHA’s assessments of regulatory needs may potentially require regulatory risk management, mostly harmonised classification and labelling (CLH) or restriction under REACH. For more than two thirds of those, further data is needed first to confirm the relevant hazards. Around 60 % of all substances screened did not require further action.

Several substance groups, identified as requiring regulatory risk management, have been included in the EU’s Restrictions Roadmap, for example bisphenols, ortho-phthalates, flame retardants, hydrocarbyl siloxanes and hydrocarbylphenols.

Ofelia Bercaru, ECHA’s Director of Prioritisation and Integration, said:
“The strategy has significantly contributed to the EU ambition towards reaching the United Nations’ 2030 Sustainable Development Goals concerning chemicals. Over the next four years, we will continue the coordinated approach towards prioritising substances for risk management, whilst maintaining our good knowledge on ECHA’s chemical database, enhancing transparency with authorities and stakeholders, and exploring synergies with ECHA’s new tasks.

Next steps
The reviewed IRS for 2024-2028 will continue to improve the protection of human health and the environment from risks posed by hazardous chemicals. ECHA, the European Commission and Member States’ authorities will focus on agreeing more swiftly the necessary risk management measures for the identified substances of concern.

The future prioritisation of authorities’ activities will focus, for example, on the one substance one assessment principle. ECHA will integrate its new tasks to this approach in coming years.

Jeanologia celebrates the 25^th anniversary of its pioneering laser technology at Kingpins Amsterdam, with a unique capsule collection that blends the nostalgia of traditional denim with technological advances that have revolutionized the industry. This joint celebration with Kingpins – commemorating their 10th anniversary in Amsterdam and 20th globally – highlights the global impact of laser technology through a visual installation that traces a quarter century of innovation, with a focus on the future.

The launch of Jeanologia’s first laser in 1999 marked the beginning of a new era for the textile industry, improving sustainability, quality, and efficiency. By eliminating hazardous practices like sandblasting, this disruptive technology enhanced processes and redefined the concepts of innovation and sustainability in an industry rooted in craftsmanship. Today, this technology is used in 50% of global jean production, solidifying its position as an essential tool for top manufacturers and fashion brands.

Jeanologia has successfully integrated laser technology into the DNA of denim without losing sight of its classic heritage. This balance between tradition and modernity has cemented its significant impact on the industry. “Laser has enabled more sustainable production and opened up creative possibilities that were once unimaginable,” says Fernando Cardona, Head of Jeanologia's Brainbox.

25 LASER YEARS capsule collection of ‘old new designs’
To commemorate this milestone at Kingpins Amsterdam, Jeanologia will offer an interactive visual journey through the history of their laser technology and present a specially designed capsule collection to celebrate this anniversary.

This installation will showcase a special collection that captures the magic of laser by merging the classic with the modern. Patches, embroidery, and natural wear effects evoke the nostalgia of traditional denim, while the technology plays the silent protagonist behind each finish. The garments illustrate how laser allows iconic vintage effects such as stone washing, worn-out looks, washing marks, rips, and marbling effects using tools like the “Light Ripper” or “Light Scrapper.” The collection also explores the numerous creative possibilities these tools enable, including hyper realistic laser details, denim elements and bleach-like stains. This nostalgic approach invites the reinterpretation of the past through updated historical models that encapsulate the idea of continuous evolution and improvement in laser design.

This "old new designs" capsule collection symbolizes the connection between Jeanologia's legacy and its vision of a greener, more responsible textile industry, celebrating its history while inviting both the industry and consumers to be part of a more sustainable future in denim.

As part of the 25th-anniversary celebration, Jeanologia will offer a digital version of this capsule collection, with 25 digital designs that pay homage to the evolution of laser technology and its transformative impact. Visitors can also experience the unique digital design process with eDesigner software, taking home their digital garment to produce it sustainably anywhere in the world.

Jeanologia invites brands, designers, and consumers to be part of a new era of denim, where tradition and technology merge to create a greener, more innovative, and sustainable future.

A tribute to the ‘Denim Tribe’
Jeanologia does not commemorate this anniversary alone. The collections and the accompanying narrative are a shared tribute to the global community of brands, designers, and manufacturers who have embraced laser technology and contributed to its progress. “More than a celebration for Jeanologia, this is recognition of the entire industry, the ‘denim tribe’ that has courageously and responsibly adopted this technology, advancing towards a more sustainable future in fashion. Without their collaboration, we wouldn’t have achieved this impact,” emphasizes the Head of Technological Development at Jeanologia.

adidas announced preliminary results for the third quarter of 2024. In Q3, currency-neutral revenues increased 10% versus the prior year. In euro terms, the company’s revenues grew 7% to € 6.438 billion (2023: € 5.999 billion). Excluding Yeezy sales in both years, currency-neutral revenues increased 14% during the quarter.

The company’s gross margin increased 2.0 percentage points to 51.3% in Q3 (2023: 49.3%). The year-over-year increase of the underlying adidas gross margin was even stronger. The company’s third quarter operating profit increased to € 598 million (2023: € 409 million), including a contribution of around € 50 million from the sale of parts of the remaining Yeezy inventory.

The company has increased its full-year guidance to reflect the better-than-expected performance during the quarter and the current brand momentum. adidas now expects currency-neutral revenues to increase at a rate of around 10% in 2024 (previously: increase at a high-single-digit rate). The company’s operating profit is now expected to reach a level of around € 1.2 billion (previously: to reach a level of around € 1.0 billion).

Within its guidance, the company assumes the sale of the remaining Yeezy inventory during the remainder of the year to occur on average at cost. This would result in additional sales of around € 50 million and no further profit contribution in the fourth quarter.

Authentico® by Schneider Group as a brand stands for a complete, transparent, verified, traceable, ethical and high-quality wool supply chain – from farm to garment. It aims to be recognised as the global brand that enables the fashion industry, together with end-consumers, to choose new levels of premium quality comprising fully traceable and responsible wool, in compliance with a carefully structured approach that verifies, traces and brands the sourcing and manufacturing processes throughout the whole supply chain. Authentico® is based on the Schneider Group global certified network.

For the second year Authentico® by Schneider Group attends the Textile Exchange Conference, that will be held on October 28-31 at Pasadena Convention Center, CA.
The Conference will be an opportunity to discover the Authentico® by Schneider Group brand story together with a selection of the first Authentico® fabric collections in partnership with Marzotto Group.

The partnership with Marzotto, launched during the July edition of Milano Unica, has the goal of guaranteeing a complete, transparent, ethical and high-quality supply chain for wool fabrics where style and quality are supported by the responsible production and innovation of two consolidated groups that combine a long tradition of savoir faire with the name “Marzotto” and the know-how of the Schneider Group and its brand Authentico® with the increasingly pressing need to guarantee traceability and ethics along the entire supply chain, in order to add value to value.

The result of Marzotto Group joining Authentico® was the beginning of a journey for various wool mills in the group like Fratelli Tallia di Delfino, Guabello|1815, Marzotto Fabrics, Marlane and the women’s divisions Opera Piemontese and Estethia G. B. Conte, which began during Milano Unica and continues at the Textile Exchange Conference.

The ZEBRA (Zero wastE Blade ReseArch) project marks a significant leap forward in the recycling and circular economy for wind turbine blades. This collaborative effort demonstrates a breakthrough in the complete recycling of thermoplastic blades achieving significant environmental and economic benefits.

The ZEBRA project is a unique partnership led by the French Institute for Technological Research, IRT Jules Verne. Joining forces are industry leaders Arkema (resin supplier), Owens Corning (glass fiber supplier), LM Wind Power (blade manufacturer), SUEZ (dismantling and waste processing), CANOE R&D center (recycling technology), and ENGIE (life cycle analysis).

Each company played a crucial role in the development of the closed-loop recycling process:

• Arkema developed and validated the generation of recycled Elium® monomer through thermolysis, and, together with its subsidiary Bostik, an innovative adhesive for the blade assembly that is recycled together with Elium® paving the way for industrial-scale implementation.
• Owens Corning successfully recovered glass fiber at pilot scale, enabling its reintroduction into the production process for their Sustaina® product line.
• LM Wind Power manufactured two wind turbine blades with Arkema’s Elium® resin and Owens Corning’s Ultrablade® fabrics; one blade including a large structural element made with recycled Elium® resin.
• SUEZ provided cutting and grinding expertise for processing the blades.
• CANOE R&D center optimized recycling for production and carbon blade waste, additionally developing methods for repurposing waste streams through mechanical recycling.
• ENGIE conducted a comprehensive life cycle analysis demonstrating the environmental benefits of closed-loop ZEBRA blades and validated their economic viability.

A Sustainable Future for Wind Energy
The ZEBRA project successfully recycled Elium® resin and Ultrablade® fabrics from wind turbine blades and manufacturing waste, reformulating them back into usable materials. This closed-loop process addresses the growing challenge of end-of-life blade management within the wind energy industry.

• Recycled Elium® Monomer: Arkema achieved a yield of over 75% in the thermolysis process, paving the way for industrial-scale production of recycled resin.
• Recovered Glass Fiber: Owens Corning successfully retrieved glass fiber for remelting and reintegration into their Sustaina® product line.
• Life Cycle and Cost Analysis: ENGIE's study confirmed the significant environmental benefits and economic viability of ZEBRA blades when assuming a closed-loop recycling system from production to end-of-life.

ZEBRA blade using Elium® thermoplastic resin, Bostik’s highly compatible adhesive and Ultrablade® fabrics is bringing the best closed-loop recycling solution compared to traditional thermoset system. The operating cost and investments for recycling facility are significantly lowered. The CO2 emission linked to the recycling operations is reduced as well. All those results are making the closed-loop recycling solution of ZEBRA blades a viable option both on economic and environmental standpoints.

By demonstrating the feasibility of full wind turbine blade recycling, the ZEBRA project paves the way for a more sustainable future in the wind energy sector.

Specialty chemicals innovator Perstorp, a wholly owned subsidiary of PETRONAS Chemicals Group Berhad (PCG), received a platinum medal for being among the top 1 percent of companies assessed for sustainability by EcoVadis.

Perstorp progressed in all four assessed areas compared to the previous year; Environment, Labor & Human rights, Ethics and Sustainable Procurement.

Since its founding in 2007, EcoVadis has grown to become one of the world's largest and most trusted provider of business sustainability ratings, creating a global network of more than 130,000 rated companies. The EcoVadis sustainability assessment methodology is an evaluation of how well a company has integrated the principles of Sustainability/CSR into their business and management system. The methodology is built on international sustainability standards, including the Global Reporting Initiative, the United Nations Global Compact, and the ISO 26000, covering 220+ spend categories and 180+ countries.

Girbau, a leading company in comprehensive textile care solutions, has been awarded the Bronze Medal by EcoVadis. This recognition places Girbau among the top 20%, based on the obtained score, leading companies assessed by EcoVadis in the past 12 months, demonstrating its commitment to sustainable business practices and responsible corporate governance across environmental, social, and ethical areas.

EcoVadis evaluates companies across several key areas, including Environment, Labor & Human Rights, Ethics, and Sustainable Procurement. Girbau’s bronze rating places the company among the top performers in its sector, reflecting its dedication to reducing environmental impact, ensuring responsible sourcing, and promoting fair labor practices.

Thus award differentiates and recognizes Girbau as a preferred partner within the hospitality sector and among the members of the Hospitality Alliance for Responsible Procurement (HARP), an EcoVadis-powered sector initiative.

Girbau’s sustainability strategy is built on a foundation of continuous innovation and responsible practices to reduce the environmental impact of its products and operations. Key initiatives include the development of resource-efficient technologies, such as water reuse and treatment systems, and the creation of zero-waste production processes and is working to cut its carbon footprint by promoting the use of long-lasting and low emissions equipment.