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(c) INDA
31.05.2023

INDA releases North American Nonwoven Materials Annual Study

INDA, the Association of the Nonwovens Fabrics Industry, announces the publication of a new study, North American Nonwoven Materials Annual Study 2022.

Based on actual surveys and interviews with producers, enhancing the accuracy and relevance, this study tracks machine additions, closures, and productivity improvements. This study is the industry benchmark for capacity and production information for North America and provides an estimate of operating rates, based on nameplate machine capacity, through the year 2022. The 72-page study contains 43 figures and 11 tables.

Findings from this year’s study include:

INDA, the Association of the Nonwovens Fabrics Industry, announces the publication of a new study, North American Nonwoven Materials Annual Study 2022.

Based on actual surveys and interviews with producers, enhancing the accuracy and relevance, this study tracks machine additions, closures, and productivity improvements. This study is the industry benchmark for capacity and production information for North America and provides an estimate of operating rates, based on nameplate machine capacity, through the year 2022. The 72-page study contains 43 figures and 11 tables.

Findings from this year’s study include:

  • North American capacity continues to increase with investments being made across all the processes and for a variety of end-uses. The industry’s nameplate capacity utilization has increased year-over-year, for the fifth consecutive year.
  • In 2022, capacity of nonwovens in North America reached 5.565 million tonnes, an increase from the previous year of 2.4% (net growth of 128,700 tonnes) and an improvement over the previous year’s growth rate of 1.8%.
  • North American imports, in tonnage, decreased 24.3% in 2022 and exports decreased 16.3% due to market stabilization after COVID. Nonwoven production tends to stay within the region, so the net trade balance (imports less exports) accounted for less than 5.5% of the region’s capacity.
More information:
INDA nonwovens North America study
Source:

INDA

10.03.2023

Lenzing Group: Difficult market environment and strategic success in 2022

  • Revenue rose to EUR 2.57 bn, while EBITDA declined to EUR 241.9 mn
  • Implementation of EUR 70 mn cost reduction program proceeding according to plan
  • Largest investment program in the company’s history including the lyocell plant in Thailand and the pulp mill in Brazil implemented on time and within budget
  • Outlook: Lenzing expects EBITDA in 2023 to be in a range of EUR 320 mn to EUR 420 mn

The Lenzing Group was increasingly affected by extreme developments on the global energy and raw material markets in the 2022 financial year, in tandem with most of manufacturing industry in Europe. The market environment also deteriorated significantly in the third and fourth quarters, while worsening consumer sentiment placed an additional burden on Lenzing’s business growth.

  • Revenue rose to EUR 2.57 bn, while EBITDA declined to EUR 241.9 mn
  • Implementation of EUR 70 mn cost reduction program proceeding according to plan
  • Largest investment program in the company’s history including the lyocell plant in Thailand and the pulp mill in Brazil implemented on time and within budget
  • Outlook: Lenzing expects EBITDA in 2023 to be in a range of EUR 320 mn to EUR 420 mn

The Lenzing Group was increasingly affected by extreme developments on the global energy and raw material markets in the 2022 financial year, in tandem with most of manufacturing industry in Europe. The market environment also deteriorated significantly in the third and fourth quarters, while worsening consumer sentiment placed an additional burden on Lenzing’s business growth.

In the year under review, revenue increased by 16.9 percent year-on-year to reach EUR 2.57 bn, primarily as a result of higher fiber prices. The quantity of fiber sold decreased, while the quantity of pulp sold rose. In addition to lower demand, the earnings trend particularly reflects the increase in energy and raw material costs. Earnings before interest, tax, depreciation and amortization (EBITDA) decreased by 33.3 percent year-on-year to EUR 241.9 mn in 2022. The net result for the year was minus EUR 37.2 mn (compared with EUR 127.7 mn in the 2021 financial year), while earnings per share stood at minus EUR 2.75 (compared with EUR 4.16 in the 2021 financial year).

Outlook
The war in Ukraine and the tighter monetary policy pursued by many central banks to combat inflation will continue to exert pressure on the global economy. The easing of China’s zero-Covid policy could lead to an unexpectedly rapid recovery. However, the IMF has warned that risks remain high overall and projects growth of 2.9 percent in 2023. Exchange rate volatility looks set to continue in regions that are important to Lenzing.

These challenging market conditions are also continuing to weigh on consumer confidence and sentiment in the sectors relevant to Lenzing. The outlook has improved slightly of late, with inventory levels returning to normal across the value chain. Nonetheless, subdued demand remains a source of concern for market players.

Inventories in the bellwether cotton market have diminished recently, although they remain above pre-pandemic levels. A decline in crops is foreseeable in the current 2022/2023 harvest season. The sharp rise in prices on the energy and raw material markets will continue to pose significant challenges for the market.

Overall, earnings visibility remains restricted.

In structural terms, Lenzing expects a continued rise in demand for environmentally friendly fibers in the textile and clothing industry, as well as in the hygiene and medical sectors. Thus, with its “Better Growth” strategy, Lenzing is very well positioned and will continue to drive growth in specialty products, while pursuing its sustainability targets including the transformation from a linear to a circular economy model.

In light of these factors and assuming a further market recovery in the current financial year, the Lenzing Group expects EBITDA in 2023 to be in a range of EUR 320 mn to EUR 420 mn.

Source:

Lenzing AG

(c) Messe Frankfurt HK, Ltd.
13.02.2023

Intertextile Shanghai Home Textiles confirms August 2023

With many trade fairs restarting their event schedules worldwide, and China notably relaxing border restrictions for travellers entering the country, global industry players are looking forward to the return of the Asian home textile show.

The Autumn Edition, which is more targeted towards international participants, will take place at the National Exhibition and Convention Center (Shanghai) from 16 – 18 August 2023. Due to easing travel restrictions and the promising home textiles market, the organisers expect to welcome more overseas exhibitors and visitors to the upcoming show.  

With China’s reopened borders the latest step in the global home textiles industry getting back on track, international suppliers have been actively seeking ways to reinvigorate business growth stunted by the pandemic, and participating in reputable trade fairs is a common choice.

With many trade fairs restarting their event schedules worldwide, and China notably relaxing border restrictions for travellers entering the country, global industry players are looking forward to the return of the Asian home textile show.

The Autumn Edition, which is more targeted towards international participants, will take place at the National Exhibition and Convention Center (Shanghai) from 16 – 18 August 2023. Due to easing travel restrictions and the promising home textiles market, the organisers expect to welcome more overseas exhibitors and visitors to the upcoming show.  

With China’s reopened borders the latest step in the global home textiles industry getting back on track, international suppliers have been actively seeking ways to reinvigorate business growth stunted by the pandemic, and participating in reputable trade fairs is a common choice.

According to TexPro, the global home textiles market is expected to grow at an annual rate of 3.5% between 2020 and 2025, with the market size to reach over USD 151 billion by the end of the forecast period. Regionally, China is expected to remain the world’s largest home textiles market with a share of over 28%.

As an important sector for the home textiles industry and the global economy in general, China has announced several policies to facilitate business and trading activities that involve foreign companies. One of the most important is the ease of the travel regulations when entering the country.

735 exhibitors and over 20,000 buyers joined the previous edition, and participants can expect a comprehensive platform in autumn. The fair will comprise a wide range of home textile products, including bedding & towelling, rugs, table & kitchen linen, upholstery & curtain fabrics, editors, home textile technologies and textile design. Intertextile Shanghai Home Textiles – Autumn Edition is organised by Messe Frankfurt (HK) Ltd; the Sub-Council of Textile Industry, CCPIT; and the China Home Textile Association (CHTA).

Source:

Messe Frankfurt HK, Ltd.

20.10.2022

adidas reports preliminary Q3 results and reduces its full year guidance

adidas announces preliminary results for the third quarter and adjusted its full year 2022 guidance. The company’s new outlook takes into account a further deterioration of traffic trends in Greater China as well as a significant inventory build-up as a result of lower consumer demand in major Western markets since the beginning of September, which is expected to lead to higher promotional activity during the remainder of the year. The new outlook also reflects several one-off costs impacting the company’s bottom-line results in both the third and fourth quarter of the year.

adidas announces preliminary results for the third quarter and adjusted its full year 2022 guidance. The company’s new outlook takes into account a further deterioration of traffic trends in Greater China as well as a significant inventory build-up as a result of lower consumer demand in major Western markets since the beginning of September, which is expected to lead to higher promotional activity during the remainder of the year. The new outlook also reflects several one-off costs impacting the company’s bottom-line results in both the third and fourth quarter of the year.

Based on preliminary numbers, adidas’ currency-neutral revenues grew 4% during the third quarter. Currency-neutral sales in Greater China declined at a strong double-digit rate reflecting the continued widespread covid-19-related restrictions as well as significant inventory takebacks. Excluding Greater China, currency-neutral revenues in the company’s other markets combined continued to grow at a double-digit rate during the quarter. In euro terms, the company’s sales increased 11% to € 6.408 billion in Q3. The gross margin declined 1.0 percentage points to a level of 49.1% and operating margin reached 8.8% during the third quarter (2021: 11.7%). Net income from continuing operations was € 179 million in Q3 (2021: € 479 million). The bottom-line development during the quarter reflects several one-off costs totaling almost € 300 million on the net income level. The majority of these expenses reflect the company’s decision to initiate the wind-down of its business operations in Russia. In addition, non-recurring costs related to accelerated cash pooling in high inflationary countries, a recently settled legal dispute as well as higher provisions for customs-related risks also had an adverse effect on the company’s gross profit, operating overheads as well as financial and tax expenses in the quarter.

As a result of the deteriorating traffic trend in Greater China, higher clearance activity to reduce elevated inventory levels (up 63% on a currency-neutral basis at the end of Q3) as well as total one-off costs of around € 500 million on the net income level in 2022, the company reduced its full year guidance. adidas now expects currency-neutral revenues for the total company to grow at a mid-single-digit rate in 2022 (previously: mid- to high-single-digit rate), reflecting double-digit revenue growth during the fourth quarter. This growth will be driven by adidas’ strong product pipeline, support from the FIFA World Cup 2022 as well as easier prior year comparables. The company’s gross margin is now expected to be around 47.5% in 2022 (previously: around 49.0%). Consequently, the company’s operating margin is now forecasted to be around 4.0% in 2022 (previously: around 7.0%). Net income from continuing operations is expected to reach a level of around € 500 million (previously: around € 1.3 billion).

In 2023, the company expects the non-recurrence of the one-off costs of around € 500 million occurred in 2022 to have a positive impact on the net income development in the same order of magnitude. In addition, in light of the challenging market environment adidas established a business improvement program to safeguard the company’s profitability in 2023. As part of this program the company has launched several initiatives aimed at mitigating the significant cost increases resulting from the inflationary pressure across the company’s value chain as well as unfavorable currency movements. In total, the program, which will result in one-off costs of around € 50 million in the fourth quarter of 2022, is expected to compensate cost headwinds of up to € 500 million in 2023. In addition, it is expected to deliver a positive profit contribution of around € 200 million next year.

More information:
adidas guidance Covid-19
Source:

adidas AG

26.07.2022

adidas adjusts outlook for 2022: Declining revenues in Greater China expected

adidas is adjusting its outlook for the financial year 2022. While second quarter results were somewhat ahead of expectations reflecting continued strong momentum in Western markets and a return to growth in Asia-Pacific, the company has been experiencing a slower-than-expected recovery in its business in Greater China since the start of the third quarter. Previously, the company had assumed that in absence of any major lockdowns as of Q3, currency-neutral revenues in the region would be flat during the second half of the year versus the prior year level. However, given the continued widespread covid-19-related restrictions, adidas now expects revenues in Greater China to decline at a double-digit rate during the remainder of the year.

adidas is adjusting its outlook for the financial year 2022. While second quarter results were somewhat ahead of expectations reflecting continued strong momentum in Western markets and a return to growth in Asia-Pacific, the company has been experiencing a slower-than-expected recovery in its business in Greater China since the start of the third quarter. Previously, the company had assumed that in absence of any major lockdowns as of Q3, currency-neutral revenues in the region would be flat during the second half of the year versus the prior year level. However, given the continued widespread covid-19-related restrictions, adidas now expects revenues in Greater China to decline at a double-digit rate during the remainder of the year.

As a result, adidas now expects currency-neutral revenues for the total company to grow at a mid- to high-single-digit rate in 2022 (previously: at the lower end of the 11% – 13% range). Because of the less favorable market mix due to lower-than-expected revenues in Greater China as well as the impact from initiatives to clear excess inventories in this market until the end of the year, the company’s gross margin is now expected to be around 49.0% in 2022 (previously: around 50.7%). Consequently, the company’s operating margin is now forecasted to be around 7.0% in 2022 (previously: around 9.4%) and net income from continuing operations is expected to reach a level of around € 1.3 billion (previously: at the lower end of the € 1.8 billion – € 1.9 billion range).

So far, the company did not experience a meaningful slowdown in the sell-through of its products or significant cancellations of wholesale orders in any other market. Nevertheless, the adjusted guidance also accounts for a potential slowdown of consumer spending in these markets during the second half of the year as a result of the more challenging macroeconomic conditions.

Despite these headwinds, adidas continues to expect double-digit revenue growth during the second half of the year for the total company. In addition to easier prior year comparables, the acceleration will be driven by adidas’ strong product pipeline, the restocking opportunity with its wholesale customers given unconstrained supply as well as the support from major sporting events.

Based on preliminary numbers, adidas’ currency-neutral revenues grew 4% during the second quarter. This increase was driven by strong double-digit growth in North America and Latin America, high-single-digit growth in EMEA (also double-digit growth excluding negative Russia/CIS impact) as well as a return to growth in Asia-Pacific. In euro terms, sales increased 10% to € 5.596 billion. The company’s gross margin declined 1.5 percentage points to a level of 50.3% and operating margin reached 7.0% during the second quarter (2021: 10.7%). Net income from continuing operations was € 360 million in Q2 (2021: € 387 million) supported by a one-time tax benefit of more than € 100 million due to the reversal of a prior year provision.

More information:
adidas financial year 2022
Source:

adidas AG

(c) RadiciGroup
11.05.2022

RadiciGroup closes 2021 with positive results

  • Continued focus on sizeable investments in innovation and sustainability.
  • Underway in India, the acquisition of the Engineering Plastics business of Ester Industries Ltd. with the objective of keeping up the Group’s global growth trend

With total sales of EUR 1.508 million generated by over 30 production and sales units in Europe, Asia and America, RadiciGroup closed its 2021 financial year with positive results, despite the difficulties due to the lingering effects of the pandemic and the steep increase in the cost of raw materials and energy, especially during the latter part of the year.

The Group – led by brothers Angelo, Maurizio and Paolo Radici – continued to pursue its strategy of focusing on the core businesses considered to be strategic and synergistic, such as nylon chemicals, engineering polymers and advanced textile solutions, while, at the same time,  introducing new products, such as a line of personal protective equipment for medical and industrial use.

EBITDA reached EUR 268 million, and net income for the year was EUR 150 million.

  • Continued focus on sizeable investments in innovation and sustainability.
  • Underway in India, the acquisition of the Engineering Plastics business of Ester Industries Ltd. with the objective of keeping up the Group’s global growth trend

With total sales of EUR 1.508 million generated by over 30 production and sales units in Europe, Asia and America, RadiciGroup closed its 2021 financial year with positive results, despite the difficulties due to the lingering effects of the pandemic and the steep increase in the cost of raw materials and energy, especially during the latter part of the year.

The Group – led by brothers Angelo, Maurizio and Paolo Radici – continued to pursue its strategy of focusing on the core businesses considered to be strategic and synergistic, such as nylon chemicals, engineering polymers and advanced textile solutions, while, at the same time,  introducing new products, such as a line of personal protective equipment for medical and industrial use.

EBITDA reached EUR 268 million, and net income for the year was EUR 150 million.

Despite this situation, RadiciGroup considers it essential to continue making investments.

“In 2021, the Group invested EUR 53 million financed from cash flow,” Alessandro Manzoni, CFO of RadiciGroup, emphasized. “There was no impact on net financial position, which registered an improvement over 2020, as did all our balance sheet ratios."

Furthermore, in spite of the complexity of the period, in 2022 the Group shareholders have kept on with their significant investment plan aimed at strengthening RadiciGroup’s presence in global markets and improving its competitiveness.

Indeed, the Group has moved forward, according to plan, with the acquisition of the Engineering Plastics business of Ester Industries Ltd., an India-based company engaged for decades in the production of engineering polymers and listed on the Bombay Stock Exchange. RadiciGroup’s EUR 35 million investment in this transaction furthers the internationalization strategy of its High Performance Polymers business area.

Source:

RadiciGroup

06.05.2022

adidas grows double-digit in Western markets in Q1 2022

  • Currency-neutral sales down 3% as supply constraints reduce top-line by € 400 million
  • Western markets continue to show strong momentum with combined currency-neutral sales growing 13% across North America (+13%), EMEA (+9%) and Latin America (+38%)  
  • Gross margin down 1.9pp to 49.9% driven by significantly higher supply chain costs
  • Operating margin of 8.2% reflecting additional investments into brand, DTC, and digital
  • Net income from continuing operations reaches € 310 million
  • FY 2022 outlook for revenue and net income confirmed at the lower end due to the impact from covid-19-related lockdowns in Greater China

“In the first quarter, consumer demand for our brand and products was strong in all Western markets. Our combined sales in North America, EMEA and Latin America grew at a double-digit rate.

  • Currency-neutral sales down 3% as supply constraints reduce top-line by € 400 million
  • Western markets continue to show strong momentum with combined currency-neutral sales growing 13% across North America (+13%), EMEA (+9%) and Latin America (+38%)  
  • Gross margin down 1.9pp to 49.9% driven by significantly higher supply chain costs
  • Operating margin of 8.2% reflecting additional investments into brand, DTC, and digital
  • Net income from continuing operations reaches € 310 million
  • FY 2022 outlook for revenue and net income confirmed at the lower end due to the impact from covid-19-related lockdowns in Greater China

“In the first quarter, consumer demand for our brand and products was strong in all Western markets. Our combined sales in North America, EMEA and Latin America grew at a double-digit rate. Backed by an exceptionally strong wholesale order book and relentless focus on driving growth in our own DTC channels, we expect this positive development to continue for the rest of the year,” said adidas CEO Kasper Rorsted. “In the East, we will return to growth in Asia-Pacific in the second quarter, while we expect the challenging market environment in Greater China to continue. With strong double-digit growth in the vast majority of our markets, representing more than 80% of our business, we are well positioned for success in 2022. “

For the full press release, see attached document.

Source:

adidas AG

24.03.2022

SGL Carbon: Initiated transformation shows effect in sales and earnings 2021

  • Sales increase of 9.5% to €1,007.0 million driven by almost all business units
  • EBITDApre improves by 50.9% to €140.0 million, reaching the upper end of the 2021 guidance raised in July
  • Net financial debt reduced from €286.5 million to €206.3 million
  • Start of business in 2022 overshadowed by uncertainty resulting from the war in Ukraine

Rising demand in almost all market segments led to a 9.5% increase in Group sales to €1,007.0 million in fiscal 2021 compared to the previous year (2020: €919.4 million). Almost all business units contributed to the pleasing sales performance. At 50.9%, EBITDApre improved disproportionately to Group sales and amounted to €140.0 million in fiscal 2021 (2020: €92.8 million). Increased sales and the associated higher capacity utilization contributed to the improvement in earnings, together with the cost savings achieved as a result of the transformation initiated at the end of 2020.*

  • Sales increase of 9.5% to €1,007.0 million driven by almost all business units
  • EBITDApre improves by 50.9% to €140.0 million, reaching the upper end of the 2021 guidance raised in July
  • Net financial debt reduced from €286.5 million to €206.3 million
  • Start of business in 2022 overshadowed by uncertainty resulting from the war in Ukraine

Rising demand in almost all market segments led to a 9.5% increase in Group sales to €1,007.0 million in fiscal 2021 compared to the previous year (2020: €919.4 million). Almost all business units contributed to the pleasing sales performance. At 50.9%, EBITDApre improved disproportionately to Group sales and amounted to €140.0 million in fiscal 2021 (2020: €92.8 million). Increased sales and the associated higher capacity utilization contributed to the improvement in earnings, together with the cost savings achieved as a result of the transformation initiated at the end of 2020.*

Outlook
Based on the assumptions outlined and including the costs of the energy hedges, the company expects Group sales for the 2022 financial year to be at the previous year's level and EBITDApre to be between €110 million and €130 million.*

* See attachment document for more information,

03.03.2022

Lenzing opens lyocell plant in Thailand

  • Project delivered on schedule and at budget after two and a half years of construction despite challenges arising from a global pandemic
  • New state-of-the-art lyocell plant with a capacity of 100,000 tons will help serve the growing demand for sustainably produced fibers
  • Important milestone towards a carbon-free future has been set

The Lenzing Group is pleased to announce the completion of its key lyocell expansion project in Thailand. The new plant, one of the largest of its kind in the world with a nameplate capacity of 100,000 tons per year, started production on schedule and will help to even better meet the increasing customer demand for TENCEL™ branded lyocell fibers. For Lenzing, the project also represents an important step towards strengthening its leadership position in the specialty fiber market and into a carbon-free future.

  • Project delivered on schedule and at budget after two and a half years of construction despite challenges arising from a global pandemic
  • New state-of-the-art lyocell plant with a capacity of 100,000 tons will help serve the growing demand for sustainably produced fibers
  • Important milestone towards a carbon-free future has been set

The Lenzing Group is pleased to announce the completion of its key lyocell expansion project in Thailand. The new plant, one of the largest of its kind in the world with a nameplate capacity of 100,000 tons per year, started production on schedule and will help to even better meet the increasing customer demand for TENCEL™ branded lyocell fibers. For Lenzing, the project also represents an important step towards strengthening its leadership position in the specialty fiber market and into a carbon-free future.

The construction of the plant located at Industrial Park 304 in Prachinburi, around 150 kilometers northeast of Bangkok, started in the second half of 2019 and proceeded largely according to plan, despite the challenges arising from the COVID-19 pandemic. The recruiting and onboarding of new employees has been successful. Investments (CAPEX) amounted to approx. EUR 400 mn.

“The demand for our wood-based, biodegradable specialty fibers under the TENCEL™, LENZING™ ECOVERO™ and VEOCEL™ brands is growing very well. In Asia in particular, we see huge growth potential for our brands based on sustainable innovation. With the production start of the lyocell plant in Thailand, Lenzing reached an important milestone in its growth journey, supporting our ambitious goal to make the textile and nonwoven industries more sustainable”, said Robert van de Kerkhof, Member of the Managing Board.

In 2019, Lenzing made a strategic commitment to reducing its greenhouse gas emissions per ton of product by 50 percent by 2030. The target is to be climate-neutral by 2050. Due to the established infrastructure, the site in Thailand can be supplied with sustainable biogenic energy and contribute significantly to climate protection.

Together with the key project in Brazil and the substantial investments at the existing sites in Asia, Lenzing is currently implementing the largest investment program in its corporate history (with more than approx. EUR 1.5 bn). Lenzing will continue to drive the execution of its strategic projects, which are to make a significant contri-bution to earnings from 2022.

Source:

Lenzing AG

04.01.2022

INNATEX 49 postponed for a month due to coronavirus situation

  • International trade fair for Green Fashion to take place in February

The Winter edition of INNATEX will not take place as planned in January, but is being postponed by one month. In changing their plans, the organisers MUVEO GmbH have reacted rapidly to the latest forecasts from the virus experts and to the changing situation regarding the spread of the Omicron variant in January, which remains unpredictable. They intend to offer a new date in mid- or late February; they are currently consulting the exhibitors and expect to reach a conclusion in the next few days.

“We are in regular discussions with our exhibitors and partners, and we know that the Green Fashion community needs a platform for winter ordering,” said Alexander Hitzel, INNATEX Project Manager. “In view of the fact that other live events have been cancelled this season, we see it as our duty more than ever to facilitate a gathering where products can be presented, orders can be taken and people can network – even if conditions are more difficult again.”

  • International trade fair for Green Fashion to take place in February

The Winter edition of INNATEX will not take place as planned in January, but is being postponed by one month. In changing their plans, the organisers MUVEO GmbH have reacted rapidly to the latest forecasts from the virus experts and to the changing situation regarding the spread of the Omicron variant in January, which remains unpredictable. They intend to offer a new date in mid- or late February; they are currently consulting the exhibitors and expect to reach a conclusion in the next few days.

“We are in regular discussions with our exhibitors and partners, and we know that the Green Fashion community needs a platform for winter ordering,” said Alexander Hitzel, INNATEX Project Manager. “In view of the fact that other live events have been cancelled this season, we see it as our duty more than ever to facilitate a gathering where products can be presented, orders can be taken and people can network – even if conditions are more difficult again.”

It had not yet been decided, he said, what adjustments the organisers would ultimately be making to the original concept with its various programme elements, to ensure compliance with the guidelines in force during the event. “We are in constant contact with the authorities but we will have to await developments before we can move on to the configuration of the event,” Hitzel continued.

MUVEO GmbH is one of a very small number of fair organisers that has managed to put on a safe six-monthly ordering platform throughout the entire pandemic, with a comprehensive hygiene policy and practice. Hitzel stresses that the same will be achievable this time.

More information:
INNATEX
Source:

UBERMUT GbR for Innatex

(c) Koelnmesse / imm cologne
13.12.2021

imm cologne: Restart postponed to 2023

imm cologne will not take place on the planned dates in January 2022 in Cologne. The executive board of Koelnmesse reached this decision in close consultation with the Association of the German Furniture Industry (VDM) and in agreement with other well-known industry representatives at the international level. "This step is restricted exclusively to imm cologne and its specific requirements for trade fair operations. We are principally planning, as before, to carry out our spring events in 2022. The political guidelines allow for this, and, following the excellent and safe course of the past autumn trade fairs, this must remain our mission in the interests of the participating industries“, says COO Oliver Frese.

imm cologne will not take place on the planned dates in January 2022 in Cologne. The executive board of Koelnmesse reached this decision in close consultation with the Association of the German Furniture Industry (VDM) and in agreement with other well-known industry representatives at the international level. "This step is restricted exclusively to imm cologne and its specific requirements for trade fair operations. We are principally planning, as before, to carry out our spring events in 2022. The political guidelines allow for this, and, following the excellent and safe course of the past autumn trade fairs, this must remain our mission in the interests of the participating industries“, says COO Oliver Frese.

The VDM, as the industry sponsor of the event, and against the background of the current pandemic situation, sees the economic success of the event and thus the successful restart of imm cologne in January as extremely endangered. "Following consultation with numerous exhibitors, industry representatives and trading partners, there is either no question of participation on the part of German exhibitors or exhibitors from the German-speaking region, or this is very much in doubt", according to Jan Kurth, CEO of the VDM.  Similar feedback also came from many European countries.

"The current special basic conditions in the interior design industry make the practicability of imm cologne almost impossible", according to Oliver Frese. "We didn't make this very bitter decision easy for ourselves, but consider it to be our obligation to take this step now in close consultation with the industry. In this way we provide clarity and planning security in the interests of our exhibitors. In our shared perspective, an imm cologne with its claim as a leading trade fair for the interior design industry is not realisable in the current situation", the COO continues. "We are currently working actively on options for also still being able to offer exhibitors of imm cologne an attractive trade fair presence at the international level. Here, both spoga+gafa and ORGATEC present excellent alternatives in the interior design portfolio of Koelnmesse".

The cancellation is restricted to imm cologne and expressly does not include other B2B events planned for spring 2022 in Cologne. In autumn, the Cologne art fairs and the nutrition fair Anuga, among others, demonstrated that trade fairs are also once again possible at the international level and can be carried out safely for everyone. It is currently quite clear how differently individual industries are reacting to the present situation. "We have determined a heterogeneous estimation among the exhibiting companies in the face of the enduring pandemic situation in Germany", according to Oliver Frese, COO of Koelnmesse. The assessments vary in degree specific to different industries, "sometimes with a greater impact on the respective trade fair and sometimes hardly palpable", the COO continues. "In the interests of cooperation in a spirit of trust, we are of course communicating closely with our industries and customers, in order to be able to reach just these kinds of industry-specific decisions," according to Frese.

The hygiene and safety concept of Koelnmesse, which remains entirely in keeping with the decisions of the Minister-President Conference and the Corona Protection Ordinance of NRW, stands for safe processes.

A positive picture was still taking shape for imm cologne as a whole with the end of the term for cancellation without penalties in mid-October: with 600 exhibitors from more than 50 countries, the event would still have been the largest and most relevant forum for the interiors industry, hosted in Europe’s biggest furniture market, even in this smaller form in terms of numbers.

The professional exchange and the networking between internationally active companies and highly qualified trade visitors provide the basis at every imm cologne for future-oriented innovations and the development of new business models. In this way, imm cologne ensures important business impulses for the industry. Koelnmesse, together with the VDM and the exhibiting industry, will therefore do everything possible to get a powerful and innovative imm cologne 2023 on its feet.        

Source:

Koelnmesse / imm cologne

24.11.2021

PERFORMANCE DAYS cancelled in Munich on December 1-2, 2021

  • Focus now on digital fair platform

The PERFORMANCE DAYS team regrets having to cancel at short notice the physical edition of PERFORMANCE DAYS which was scheduled to take place on December 1-2, 2021 at the Messe München exhibition center. Right up until today, the event organizers of PERFORMANCE DAYS were in the final stages of preparations for the fair. The goal of being able to realize a fully booked fair with a portfolio like in pre-pandemic times seemed to be within reach. The political regulations agreed in Bavaria from November 19, 2021 and the heavily restricted constraints associated with an incidence of 1000 have far-reaching consequences for PERFORMANCE DAYS. As a result of the current sharp rise in the number of infections in Munich, the planned winter edition must now be cancelled as a precaution. The focus now is now completely on the digital fair on December 1 and 2, 2021.

  • Focus now on digital fair platform

The PERFORMANCE DAYS team regrets having to cancel at short notice the physical edition of PERFORMANCE DAYS which was scheduled to take place on December 1-2, 2021 at the Messe München exhibition center. Right up until today, the event organizers of PERFORMANCE DAYS were in the final stages of preparations for the fair. The goal of being able to realize a fully booked fair with a portfolio like in pre-pandemic times seemed to be within reach. The political regulations agreed in Bavaria from November 19, 2021 and the heavily restricted constraints associated with an incidence of 1000 have far-reaching consequences for PERFORMANCE DAYS. As a result of the current sharp rise in the number of infections in Munich, the planned winter edition must now be cancelled as a precaution. The focus now is now completely on the digital fair on December 1 and 2, 2021.

The new measures are scheduled to come into effect in Munich from the middle of this week, which would lead to very short-term changes. The organizers of PERFORMANCE DAYS therefore see themselves in the responsibility to enable a minimum of planning security as well as a responsible handling of the given situation with this decision.

“Exceptional situations require exceptional decisions – making these all the more difficult. After experiencing a very successful and surprisingly well-attended fair with the Functional Fabric Fair by PERFORMANCE DAYS in Portland, Oregon last week, we have tried everything possible up to the last moment and firmly believed that we would finally set a further positive milestone with the physical edition of PERFORMANCE DAYS in Munich. We fulfilled all the requirements, updated our hygiene concept several times to comply with the dynamically changing measures and took all the necessary precautions for a safe event. Unfortunately, current developments do not allow us to host the trade fair event next week, since the undisputed top priority is the protection and health of our visitors. Now our focus turns to the full implementation of the Digital Fair on December 1 and 2, 2021”, explains Marco Weichert, CEO of PERFORMANCE DAYS

Focus on digital platform
The PERFORMANCE DAYS team is now investing all its efforts into implementing the Digital Fair on December 1 and 2, 2021. As part of THE LOOP, those interested have the opportunity as of now to view online the fabric innovations and news for the Winter Season 2023/24, this year’s Focus Topic “Sustainable Nylon” and the latest color trends. In the Marketplace, visitors will be able to view the numerous exhibitor products, including the PERFORMANCE FORUM’s curated sustainable fabric highlights. In order to present the fabrics to visitors as realistically as possible in terms of feel, design and structure in digital form, the PERFORMANCE FORUM has been equipped with new 3D-technology, including innovative tools such as 3D images, video animations and downloadable U3M files. Throughout the Digital Fair, exhibitors and fair visitors can look forward to extensive networking opportunities. For example, as part of the extensive digital supporting program on December 1, with various expert talks, discussion rounds and speakers via livestream, moderated by Charles Ross live from the studio. On December 2, the “sustain & innovate” conference on this year’s Focus Topic “The Sustainable Future of Nylon” will kick off with discussions and panels, moderated by Astrid Schlüchter, Editor-in-Chief of SAZsport and SPORTSFASHION by saz.  

A very special thank you goes out to the entire PERFORMANCE DAYS community with its exhibitors, visitors and partners for their active support, trust, loyalty and understanding in these still extraordinary times. The team looks forward to the Digital Fair on December 1 and 2, 2021 and further ahead to meeting you all personally on April 27 and 28, 2022 at the summer edition of PERFORMANCE DAYS live in Munich.

Source:

Performance Days

10.11.2021

adidas' performance in a challenging environment during Q3 2021

  • Currency-neutral sales up 3%, despite € 600 million drag from external factors*
  • Strong top-line momentum in EMEA, North America and Latin America with double-digit
  • increase across these regions*
  • DTC business growing at double-digit rate in EMEA, North America and Latin America*
  • Gross margin at 50.1% as significantly higher full-price sales partly compensate
  • negative currency impact and higher supply chain costs*
  • Operating margin at 11.7% despite strong double-digit increase in marketing spend*
  • Net income from continuing operations reaches € 479 million*
  • Inventories down 23% currency-neutral*
  • 2021 top- and bottom-line outlook confirmed*

“adidas performed well in an environment characterized by severe challenges on both the supply and demand side,” said adidas CEO Kasper Rorsted.

  • Currency-neutral sales up 3%, despite € 600 million drag from external factors*
  • Strong top-line momentum in EMEA, North America and Latin America with double-digit
  • increase across these regions*
  • DTC business growing at double-digit rate in EMEA, North America and Latin America*
  • Gross margin at 50.1% as significantly higher full-price sales partly compensate
  • negative currency impact and higher supply chain costs*
  • Operating margin at 11.7% despite strong double-digit increase in marketing spend*
  • Net income from continuing operations reaches € 479 million*
  • Inventories down 23% currency-neutral*
  • 2021 top- and bottom-line outlook confirmed*

“adidas performed well in an environment characterized by severe challenges on both the supply and demand side,” said adidas CEO Kasper Rorsted. “As a consequence of successful product launches we are experiencing strong top-line momentum in all markets that operate without major disruption. Double-digit growth in our direct-to-consumer businesses in EMEA, North America and Latin America is a testament to the strong consumer demand for our products. At the same time, we are navigating through the current world-wide supply chain constraints. Despite all challenges, we are on track to delivering a successful first year within our new strategic cycle.”
 

*See attached document for more information.

More information:
adidas Covid-19
Source:

adidas AG

(c) CHIC / JANDALI
29.10.2021

CHIC fueled fashion business in Shanghai and Shenzhen

  • CHIC Shanghai successfully completed under high safety and hygiene conditions
  • The trend hotspot for the Chinese sales market: Lively interest of more than 20,000 trade visitors in the new collections of the 487 brands at the NECC in Shanghai
  • Sustainability in great demand in all areas
  • CHIC Shenzhen focuses on trading in the strong sales region of South China and the international clusters Hong Kong and Macao: Date postponed from November to December due to current Covid-19 cases in China

The fashion world of China met at the physical event CHIC Shanghai from October 9-11, 2021 at the National Exhibition and Convention Center in Shanghai

487 exhibitors presented themselves in clearly structured segments on 50,000 square meters. Maximum compliance with the security measures determined the course. Against this background the exhibitors welcomed more than 20,000 trade visitors and reported cheerful orders.

The 487 exhibitors were also satisfied with the business activity and reported successful orders.

  • CHIC Shanghai successfully completed under high safety and hygiene conditions
  • The trend hotspot for the Chinese sales market: Lively interest of more than 20,000 trade visitors in the new collections of the 487 brands at the NECC in Shanghai
  • Sustainability in great demand in all areas
  • CHIC Shenzhen focuses on trading in the strong sales region of South China and the international clusters Hong Kong and Macao: Date postponed from November to December due to current Covid-19 cases in China

The fashion world of China met at the physical event CHIC Shanghai from October 9-11, 2021 at the National Exhibition and Convention Center in Shanghai

487 exhibitors presented themselves in clearly structured segments on 50,000 square meters. Maximum compliance with the security measures determined the course. Against this background the exhibitors welcomed more than 20,000 trade visitors and reported cheerful orders.

The 487 exhibitors were also satisfied with the business activity and reported successful orders.

Perfect presentation platform: the CHIC Matching area
The expanded matchmaking events at CHIC were also enthusiastically received.
In total, over 37 matchmaking events took place in the specially set up matching area consisting of several presentation platforms and private negotiation rooms at the fair. From company presentations by industry giants such as Shein, through trade fair tours to selected one-on-one discussions, CHIC brought exhibitors and visitors together in a targeted manner. More than 600 participants have been matched by this CHIC event. Among them visitors such as Shein, Walmart, Wang Yi Yan Xuan, Tiktok, BAILIAN GROUP, LIQUN etc, parts of the organizer's broad network.

Continuing growth: sustainable productions
Sustainability is one of the most important consumer trends in China. CHIC played the theme in all exhibition areas; from womenswear, kidswear and menswear to accessories, sustainable collections were represented in all segments.

Design talent and traditional styles
In the IMPULSES area, innovative designer brands showed inspiring trends, high-quality collections and fashion variety like Kmusso, MIJA or Yu Jian Tian with its new design collection made by natural materials such as mulberry silk and wool, presenting the unique traditional Chinese style.

CHIC Shanghai presented the entire range of the fashion business in a total of 12 exhibition segments. This year's acclaimed visual concept, created by lava beijing, has been awarded the Bronze Award of the Hiiibrand Awards 2021 in the Identity category.

Digital tools and physical events
In addition to the on-site trade fair offer, CHIC is expanding its reach through the consistent use of digital tools. The CHIC app combines all the functions needed for a successful trade fair participation, from the digital trade fair catalog and matchmaking to direct appointments and live chats for all participants who cannot be on site.

The next CHIC in Shanghai will take place in March 2022.

Source:

CHIC / JANDALI

08.09.2021

Indorama Mobility Group: General price increase effective October 1st 2021

The Indorama Mobility Group, a manufacturer of industrial fibers, cords and fabrics, - like other companies - is confronted with significant inflation since the beginning of the year. The global economy has gradually recovered in 2021 from the impact of the COVID-19 pandemic, but is still experiencing very volatile market conditions: The global freight remains unreliable and expensive, cost for energy and global commodities is increasing, and the increasing focus on sustainability and environmental impact is driving compliance cost upward in most part of the world.

In detail:

The Indorama Mobility Group, a manufacturer of industrial fibers, cords and fabrics, - like other companies - is confronted with significant inflation since the beginning of the year. The global economy has gradually recovered in 2021 from the impact of the COVID-19 pandemic, but is still experiencing very volatile market conditions: The global freight remains unreliable and expensive, cost for energy and global commodities is increasing, and the increasing focus on sustainability and environmental impact is driving compliance cost upward in most part of the world.

In detail:

  • Utilities: gas price has tripled in the past few months in Europe (from a level of 15 EUR/MWh in Q4’20 to 45 EUR/MWh recently), while increasing by 50% in USA
  • CO2 emissions and compliance cost: prices for CO2 certificates in Europe have almost doubled, approaching 60 EUR/ton from 30 EUR/ton at the end of last year, while regulations continue to expand the need for CO2 compensation
  • Chemicals and additives (spinfinish, dip chemicals, coating & laminating chemicals): cost have increased by 5%
  • Packaging: prices for standard packaging materials have increased by more than 30%
  • Logistic: despite our local manufacturing footprint which is not fully affected by global freight issues, the regional logistic costs are also increasing up to 20% (road transport)

Despite constant efforts to optimise the cost structure through comprehensive initiatives to improve operations, cost increases have now reached a level, the group said, that can no longer be offset and must be passed on to the market. This is a necessary step to be able to continue supplying high-quality products and services of the broad product portfolio, it said.

More information:
Indorama Mobility Group
Source:

Indorama Mobility Group

Mimaki: 100 Percent Success in a Post Pandemic World (c) Mimaki
Mimaki UJV100-160
08.04.2021

Mimaki: 100 Percent Success in a Post Pandemic World

After a turbulent year, it seems strange to be thinking about ‘after the pandemic’, but with millions of vaccinations underway, the light at the end of the tunnel is visible. As we turn the corner, choosing technology partners that understand how to proactively respond to changing market needs and support the evolving requirements of print businesses and end customers will be vital. The printers in Mimaki’s ‘100 series’ portfolio, which consists of the high quality, high productivity entry level roll-to-roll inkjet printers the UJV100-160 UV and the JV100-160 solvent, and the high performance textile printer, the TS100-1600, are a perfect reflection of the way technology requirements are adapting in line with the industry as we look to the future. To demonstrate this, we have identified three post-pandemic technology touchpoints that will help print businesses target success amid uncertainty.

After a turbulent year, it seems strange to be thinking about ‘after the pandemic’, but with millions of vaccinations underway, the light at the end of the tunnel is visible. As we turn the corner, choosing technology partners that understand how to proactively respond to changing market needs and support the evolving requirements of print businesses and end customers will be vital. The printers in Mimaki’s ‘100 series’ portfolio, which consists of the high quality, high productivity entry level roll-to-roll inkjet printers the UJV100-160 UV and the JV100-160 solvent, and the high performance textile printer, the TS100-1600, are a perfect reflection of the way technology requirements are adapting in line with the industry as we look to the future. To demonstrate this, we have identified three post-pandemic technology touchpoints that will help print businesses target success amid uncertainty.

  • Productivity

The pandemic has served as a major catalyst for existing trends, and our growing appetite for everything on-demand has been given a huge COVID-related boost. For printers, a digital solution that offers premium productivity, quality and efficiency at an entry-level price point is sure to be an invaluable investment to meet evolving ‘on-demand demands’. Adding a digital production element to your business doesn’t need to be daunting, complicated or overpriced – the Mimaki ‘100 series’ truly lives up to the tagline ‘Expert Printing Made Easy’, offering an incredibly intuitive user experience for streamlined, ultra-efficient printing, high-quality output, and cost-effective implementation. The powerful and productive new textile printer in the ‘100 series’, the TS100-1600, is a shining example of equipment developed with the future of the market in mind – the textile industry is fast-paced and constantly innovating, and the printer you invest in needs to keep up with your creativity.

  • Diversity

2021 is set to be a period of transition. While that will mean navigating uncertainty, the ‘glass half full’ approach is to view the year ahead in terms of opportunities such as expanding your business, exploring alternative revenue streams, and taking the plunge into new markets. In the past, it may have felt as if the barriers to entry when it came to looking beyond your core business were too great. However, in a post-pandemic world, we need to break some of those barriers down and demonstrate that success with digital print is within reach if you invest in the right equipment. With the ‘100 series’ portfolio, Mimaki is acknowledging what print service providers need from their technology partners – the UJV100-160 and the JV100-160 are suitable for a wide range of applications that will allow you to easily and affordably diversify your offering, and with the TS100-1600 textile printer, it has never been easier to target growth in the thriving textile sector, even in challenging times.

  • Affordability

Affordability is one of the most significant barriers to entry into new markets. 2020 was a year of unprecedented economic challenges, so it’s more important than ever to be thinking about gaining a competitive edge, and the printers in the ‘100 series’ from Mimaki have been specifically formulated to help you ramp up productivity while keeping running costs low. Whether you want to take your first foray into digital print production, expand the services you offer or simply grow your customer base, cost can be a major sticking point, which is why supporting customers is Mimaki’s number one priority, designing the ‘100 series’ around your needs and continuing to listen to how those needs are developing. Making an investment in the JV100-160 in order to move into outdoor graphics; meeting demand for faster turnaround times by adding the instantly curable UJV100-160 to your production setup; or taking a leap into new revenue streams with the TS100-160 – it’s all ‘100’ percent accessible.

Source:

Martial Granet, Branch Manager, Mimaki France

25.03.2021

Autoneum Holding AG Annual General Meeting

  • Waiver of dividend
  • Expansion of Board of Directors

The shareholders of Autoneum Holding Ltd approved all proposals of the Board of Directors at today’s Annual General Meeting and agreed to forgo dividend payments. Liane Hirner and Oliver Streuli were newly elected to the Board of Directors. Based on Art. 27 of the Covid-19 Ordinance 3, the Board of Directors of Autoneum Holding Ltd decided to hold the 2021 Annual General Meeting without physical attendance by the shareholders. For this reason, the Company had asked them in advance to exercise their rights exclusively via the Independent Proxy. He represented 63.5% of a total of 4 672 363 shares.

  • Waiver of dividend
  • Expansion of Board of Directors

The shareholders of Autoneum Holding Ltd approved all proposals of the Board of Directors at today’s Annual General Meeting and agreed to forgo dividend payments. Liane Hirner and Oliver Streuli were newly elected to the Board of Directors. Based on Art. 27 of the Covid-19 Ordinance 3, the Board of Directors of Autoneum Holding Ltd decided to hold the 2021 Annual General Meeting without physical attendance by the shareholders. For this reason, the Company had asked them in advance to exercise their rights exclusively via the Independent Proxy. He represented 63.5% of a total of 4 672 363 shares.

The shareholders approved the Annual Report, the Annual Financial Statements and the Consolidated Financial Statements 2020. In view of the net loss in the 2020 financial year, the Board of Directors proposed forgoing dividend payments, which was approved by a large majority of the shareholders. Hans-Peter Schwald, Chairman of the Board of Directors, said: “2020 was extremely challenging for the entire automobile industry and also for Autoneum. The pandemic-related drop in revenue has impacted profitability. Despite the net loss, Autoneum reached important financial improvements in 2020. We expect to return to profitability in 2021 and our aim to distribute at least 30% of the net profit attributable to Autoneum shareholders as dividends remains unchanged. The Board of Directors, the Group Executive Board and the Company as a whole are committed fully to ensuring that Autoneum continues to make significant operational and financial improvements.”

Chairman Hans-Peter Schwald and the other members of the Board of Directors, Rainer Schmückle, Norbert Indlekofer, Michael Pieper, This E. Schneider and Ferdinand Stutz were confirmed in office. Newly elected to the Board of Directors were Liane Hirner and Oliver Streuli.

With Liane Hirner and Oliver Streuli and the resignation of Peter Spuhler, who did not stand for reelection in order to be able to focus on managing Stadler Rail, the Board of Directors of Autoneum Holding Ltd has expanded from seven to eight members. Hans-Peter Schwald explained: “The expertise of Liane Hirner and Oliver Streuli in the areas of finance and corporate management is of great value to Autoneum. As the Board of Directors, we look forward to this enhancement to the Board and to working with both of them.”

Peter Spuhler has been an important driving force since the Company became independent, he played a major role in shaping Autoneum thanks to his entrepreneurial expertise and showed great commitment to the Company. The Board of Directors thanks him sincerely and wishes him continued success.

This E. Schneider, Hans-Peter Schwald and Ferdinand Stutz were re-elected to the Compensation Committee. Oliver Streuli was elected as a new member of this committee. In addition, the shareholders of Autoneum Holding Ltd granted discharge to all members of the Board of Directors and the Group Executive Board with a large majority.

The consultative vote on the 2020 remuneration report was approved by 83.4%. Due to the severe impact of the coronavirus pandemic on the Group’s business development, the members of the Board of Directors renounced half of their compensation for the 2020 financial year and, in order to  align their remuneration with shareholder interests, decided to receive it entirely in Autoneum shares. In addition, a waiver of salary amounting to 10% of the basic salary for a period of three months was agreed upon with the senior management as part of a reduction of personnel costs.

The proposals for the remuneration of the Board of Directors and the Group Executive Board for the 2022 financial year as well as the other proposals were also approved by a large majority.

Source:

Autoneum Management AG

27.01.2021

Rieter: First Information on the Financial Year 2020

Order Intake Continued to Recover in the Fourth Quarter of 2020:

  • Order intake increased to CHF 215.1 million in the fourth quarter of 2020 and reached a total of CHF 640.2 million in the 2020 financial year
  • As expected, sales of CHF 573.0 million in the 2020 financial year were significantly down on the previous year
  • EBIT margin of around -15% and net profit of around -16% of sales expected
  • First half of 2021 still heavily impacted by the COVID-19 pandemic
  • Change to the Group Executive Committee

Rieter posted a globally and broadly supported order intake of CHF 215.1 million in the fourth quarter of 2020. Thus, the recovery that began in the third quarter of 2020 after the slump in demand in the second quarter continued (order intake second quarter: CHF 45.7 million, third quarter: CHF 174.4 million). Overall, Rieter’s annual order intake for the 2020 financial year totaled CHF 640.2 million, which corresponds to a decrease of 31% compared to the previous year.

Order Intake Continued to Recover in the Fourth Quarter of 2020:

  • Order intake increased to CHF 215.1 million in the fourth quarter of 2020 and reached a total of CHF 640.2 million in the 2020 financial year
  • As expected, sales of CHF 573.0 million in the 2020 financial year were significantly down on the previous year
  • EBIT margin of around -15% and net profit of around -16% of sales expected
  • First half of 2021 still heavily impacted by the COVID-19 pandemic
  • Change to the Group Executive Committee

Rieter posted a globally and broadly supported order intake of CHF 215.1 million in the fourth quarter of 2020. Thus, the recovery that began in the third quarter of 2020 after the slump in demand in the second quarter continued (order intake second quarter: CHF 45.7 million, third quarter: CHF 174.4 million). Overall, Rieter’s annual order intake for the 2020 financial year totaled CHF 640.2 million, which corresponds to a decrease of 31% compared to the previous year.

At the end of 2020, the company had an order backlog of about CHF 560 million (December 31, 2019: about CHF 500 million).

As expected, as a consequence of the economic effects of the COVID-19 pandemic, the Rieter Group closed the 2020 financial year with considerably lower sales than in the previous year. According to the first, as yet unaudited figures, total sales of CHF 573.0 million were achieved, which corresponds to a decrease of 25% compared to the previous year (2019: CHF 760.0 million).

Order Intake by Business Group
All three business groups were affected by the slump in demand in the second quarter of 2020 due to the COVID-19 pandemic. Despite the recovery in order intake in the third and fourth quarters of 2020, the weak second quarter was only partially offset.

The Business Group Machines & Systems was particularly hard hit by the effects of the pandemic, with a year-on-year decline of 35%. The Business Groups Components and After Sales each recorded a 24% reduction in order intake.*

Sales by Business Group
The exceptional market situation in 2020 gave rise to a significant decline in sales in all three business groups. Accordingly, reluctance to invest and deferred deliveries by customers caused sales in the Business Group Machines & Systems to decline by 24% compared to the previous year.

Due to COVID-19, a large number of spinning mills stopped production worldwide. This led to low demand for spare parts and wear parts, especially in the second and third quarters of 2020. Accordingly, compared to the previous year, sales in the Business Groups Components and After Sales fell by 24% and 27% respectively in the 2020 financial year.*

Sales by Region
With the exception of Turkey, all regions were affected by the low demand as a consequence of the COVID-19 pandemic.*

EBIT Margin and Net Profit
In the 2020 financial year, Rieter anticipates an EBIT margin of around -15% (2019: 11.2%) and net profit of around -16% of sales (2019: 6.9%). As of December 31, 2020, Rieter had liquid funds of exceeding CHF 280 million and unused credit lines in the mid three-digit million range.

First Half of 2021 Still Heavily Impacted by the COVID-19 Pandemic
Thanks to the improved capacity utilization, Rieter is planning short-time working in only a few areas in the first half of 2021. Nevertheless, Rieter expects sales in the first half of 2021 to be below the break-even point.*

Change to the Group Executive Committee
With effect from March 1, 2021, the Board of Directors of Rieter Holding Ltd. has appointed Roger Albrecht as Head of the Business Group Machines & Systems and a member of the Group Executive Committee.*

Annual General Meeting April 15, 2021
The 2021 Annual General Meeting of Rieter Holding Ltd. will take place in Winterthur on April 15, 2021.*


*See attached document for more information.

Source:

Rieter Management AG

Global Success of Technical Textiles will be Reflected in HIGHTEX 2021 (c) HIGHTEX 2021
International Technical Textiles and Nonwoven Fair
28.12.2020

Global Success of Technical Textiles will be Reflected in HIGHTEX 2021

  • The nonwoven and technical textiles industry has become the focus of the whole world during the pandemic process.
  • Most countries carried out works for these sectors with their investments, production and innovations.

During the pandemic process, a new one is added every day to the works for the nonwoven and technical textiles sector, whose importance is increasing in line with the needs. Turkey has become a center of  technical textiles by showing that its accumulation in these field and power.

In the Turkish technical textiles sector, which has an export market of 107 billion dollars worldwide and continues to break its own export record every month, R&D and innovation investments continue without slowing down. Technical textile exports, which increased by 77 percent in last November compared to the same month of the previous year, increased by 55 percent in January - November period and reached 2.5 billion dollars. Thus, technical and smart textiles and production technologies both attracted more attention and gained more importance in line with the needs of the pandemic process.

  • The nonwoven and technical textiles industry has become the focus of the whole world during the pandemic process.
  • Most countries carried out works for these sectors with their investments, production and innovations.

During the pandemic process, a new one is added every day to the works for the nonwoven and technical textiles sector, whose importance is increasing in line with the needs. Turkey has become a center of  technical textiles by showing that its accumulation in these field and power.

In the Turkish technical textiles sector, which has an export market of 107 billion dollars worldwide and continues to break its own export record every month, R&D and innovation investments continue without slowing down. Technical textile exports, which increased by 77 percent in last November compared to the same month of the previous year, increased by 55 percent in January - November period and reached 2.5 billion dollars. Thus, technical and smart textiles and production technologies both attracted more attention and gained more importance in line with the needs of the pandemic process.

HIGHTEX 2021 International Technical Textiles and Nonwoven Fair, which will be held at Tüyap Fair and Congress Center on 22-26 June 2021, will be the exhibition where the latest technologies and products for nonwoven, technical and smart textiles which have become more important during the pandemic period and have become the focus of the whole world. Especially the products and technologies produced for the pandemic will attract more attention at the exhibition. HIGHTEX 2021 Exhibition, which will gather its exhibitors and visitors under one roof, will also allow new collaborations. At the same time, the exhibition, where developing technologies and products are exhibited, will provide a great advantage in terms of the formation of new business ideas.
HIGHTEX 2021, the first and only exhibition in Turkey in its field are expected to sign a new record in terms of number of exhibitors and visitors. You can visit www.hightexfairs.com website for more information about HIGHTEX 2021, which is preparing to attract more attention and host people than ever before.

Frankfurt Fashion Week: hosting the future of fashion © Lottermann and Fuentes
Anita Tillmann and Detlef Braun
02.12.2020

Frankfurt Fashion Week: hosting the future of fashion

  • Looking to the future – Frankfurt Fashion Week is positioning itself with a consistently sustainable agenda and propelling the transformation of a modern, resource-efficient fashion industry.

The Conscious Fashion Campaign (CFC), working in collaboration with the United Nations Office for Partnerships (UNOP), will be the presenting partner and the Sustainable Development Goals (SDGs) will be a prerequisite for all exhibitors by 2023. And the Frankfurt Fashion SDG Summit by CFC is set to become the leading international conference for sustainability in the fashion world. The future of fashion has begun – and its key players will be coming together in Frankfurt am Main from 5-9 July 2021.
 

  • Looking to the future – Frankfurt Fashion Week is positioning itself with a consistently sustainable agenda and propelling the transformation of a modern, resource-efficient fashion industry.

The Conscious Fashion Campaign (CFC), working in collaboration with the United Nations Office for Partnerships (UNOP), will be the presenting partner and the Sustainable Development Goals (SDGs) will be a prerequisite for all exhibitors by 2023. And the Frankfurt Fashion SDG Summit by CFC is set to become the leading international conference for sustainability in the fashion world. The future of fashion has begun – and its key players will be coming together in Frankfurt am Main from 5-9 July 2021.
 
Frankfurt am Main, 2 December 2020. Joining forces to improve the fashion industry: Frankfurt Fashion Week is positioning itself as the host of the future of fashion and actively driving forward the transformation towards a future-oriented, more sustainable fashion and textile industry. All decision-makers looking to instigate this change will be coming together in Frankfurt am Main from 5-9 July 2021. The initiators of Frankfurt Fashion Week – Messe Frankfurt and the Premium Group – have achieved a real coup: Conscious Fashion Campaign, working in collaboration with the United Nations Office for Partnerships, will be the presenting partner. Messe Frankfurt will build on its collaboration with the United Nations Office for Partnerships and establish Frankfurt Fashion week as the platform on which to advance the Sustainable Development Goals and help guide the fashion industry into the 'Decade of Action'.
 
“Frankfurt will play host to the whole world. We are seeing a very positive response indeed,” confirmed Peter Feldmann, Senior Mayor of the City of Frankfurt am Main, at today’s digital press conference, before going on to say: “The fact that the initiators are able to rethink the concept of a Fashion Week in such a way is extremely impressive and proves that the fashion industry is correctly interpreting the signs of the present and future. The time has come for value creation and values to be reconciled. Consistent alignment with the Sustainable Development Goals is an important step in this direction.”
 
“Frankfurt Fashion Week aims to play a crucial role in finding solutions for macrosocial challenges and supporting the goals of international politics such as the European Green Deal. The fashion and textile industries are also expected to be climate-neutral by 2050. If we want to achieve this, we all need to pull together. Frankfurt Fashion Week is inviting all initiators and supporters of sustainable concepts and congresses or shows dedicated to sustainability to meet in Frankfurt, partake in discussions and make tangible decisions for the greater good. We will connect the most relevant players and pave the way for a future-proof fashion and textile industry,” says Detlef Braun, CEO of Messe Frankfurt.
 
“Given its global reach, the fashion industry is uniquely positioned to collaborate and engage on the Sustainable Development Goals, in particular on climate action and responsible production and consumption,” said Annemarie Hou, Acting Executive Director of the United Nations Office for Partnerships. “Frankfurt Fashion Week and the Summit will serve as an important platform for education and engagement of the fashion and textile industry in the Decade of Action,” emphasised Ms Hou.
 
The aim of Frankfurt Fashion Week is for all exhibitors, participants and partners to align with the Sustainable Development Goals by 2023. The SDGs will also be incorporated into all formats of Frankfurt Fashion Week. This will help to make the UN’s sustainability goals visible and tangible for the Fashion Week audience, therefore bringing its claim, goals and specific proposals for implementation to an international opinion-forming fashion and lifestyle community. During a one-day Frankfurt Fashion SDG Summit presented by Conscious Fashion Campaign, topics like gender equality, clean water, climate protection, social justice and their significance for a forward-looking fashion industry will be examined in greater depth. Another point on the sustainability agenda: Frankfurt Fashion Week is launching a Sustainability Award for outstanding, innovative, sustainable design, alongside other categories with a global appeal for the fashion and textile industry.
 
"We are committed to setting the wheels of transformation in motion. Not only does the overall mindset have to fundamentally change; the entire industry also needs to have the courage to be transparent and honest. It’s important to see values and value creation as opportunities rather than contentious. We are doing what we do best: connecting the relevant players at all levels. With its ecosystem, Frankfurt Fashion Week will become the enabler. We are creating a platform that will orchestrate industry-wide change. With this as our inspiration, we are also developing our tradeshow formats from a ‘marketplace of products’ to a ‘marketplace of purpose and ideas’,” explains Anita Tillmann, Managing Partner of the Premium Group.
 
A new start in Frankfurt: In summer 2021 the entire fashion industry will be coming to the metropolis on the Main river to inform themselves, be inspired, discuss, negotiate and celebrate. “There’s a huge need to finally meet in person again, to exchange ideas and be inspired. At the same time, digital tools and formats have become an integral part of the fashion industry,” says Markus Frank, Head of the City of Frankfurt’s Department of Economic Affairs and therefore also responsible for its creative industry. “To implement such a future-oriented, all-encompassing overall concept, Frankfurt’s business and creative scenes offer an almost unique concentration of different expertise with its internationally networked agencies, universities and museums. The city’s multifaceted, high-end club, bar and restaurant scene, diverse hotel industry and internationally renowned retail landscape will become the stage for this. This network will be a key factor in the successful implementation of Frankfurt Fashion Week and the way in which it will expand into the public space as a cultural and social happening.”
 
A number of major publishing houses are also showing their commitment to the new Fashion Week in Frankfurt with conferences, events and awards: Textilwirtschaft, the leading professional fashion journal by the Deutscher Fachverlag publishing house, is moving its traditional meeting of the industry’s top decision-makers – the TW Forum, the presentation of the renowned Forum Award, as well as its subsequent conference – from Heidelberg to Frankfurt’s Palmengarten botanical gardens, and will therefore be kicking off Frankfurt Fashion Week on Sunday evening and Monday morning. The Frankfurter Allgemeine Zeitung will be hosting its traditional fashion party for the first time in Frankfurt and publishing a special edition of its FAZ Magazin on Frankfurt Fashion Week. And the ZEIT publishing group is holding its ‘UNLOCK Style by ZEITmagazin’ conference, which was established in 2014, and the ZEITmagazin Fashion Week party in Frankfurt for the first time and will dedicate the whole new issue of ZEITmagazin Frankfurt to Frankfurt Fashion Week. Condé Nast will also be involved in next summer’s Frankfurt Fashion Week with an exclusive event by GQ. And the Burda publishing house will also be represented with various event formats from its lifestyle and fashion brands.There will also be talks with SHINE  Conventions, the organiser of GLOW, about what a mutual collaboration could look like.
 
Frankfurt Fashion Week is also delighted to have the Fashion Council Germany (FCG) on board.  The FCG is theinstitution when it comes to German fashion design. It promotes designers, is committed to gaining more political relevance and strengthens the international visibility and awareness of German fashion. At Frankfurt Fashion Week, the FCG will contribute selected formats, such as its already established Fireside Chat, and a future-oriented accelerator format to support German designers.
 
“What really impresses me about Fashion Week is the whole networking aspect: the creative industries will meet the financial world and sustainability is the common denominator. The Green Finance Cluster is another project that we could link with Frankfurt Fashion Week in the future. This will provide new inspiration in the fashion industry, which will certainly extend way beyond its own horizon of Frankfurt and Hesse. After a very difficult year for the trade fair industry, the concept is an encouraging breath of fresh air,” sums up Tarek Al-Wazir, Hesse’s Minister of Economics, Energy, Transport and Regional Development and Deputy Minister-President of the state of Hessen.