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Benoit Moutault, new Leader of Business Field Textile at the CHT Group (c) CHT Gruppe
Benoit Moutault, new Leader of Business Field Textile at the CHT Group
09.02.2021

Benoit Moutault, new Leader of Business Field Textile at the CHT Group

  • As of 1st February, 2021, Benoit Moutault has resumed the position as Group Vice President Business Field Textile (Auxiliaries and Dyestuffs) from Ralf Kattanek.

He reports to the CEO of the CHT Group, Dr. Frank Naumann, Chairman of the Board. Benoit is a French citizen, 45 years old, and has been working at CHT since 2014. He is experienced in various leadership positions within the global market of textile chemicals.

Dr. Frank Naumann: "We are very happy to continue our successful cooperation with Benoit. He takes over a highly important and strategic role for the CHT Group."

  • As of 1st February, 2021, Benoit Moutault has resumed the position as Group Vice President Business Field Textile (Auxiliaries and Dyestuffs) from Ralf Kattanek.

He reports to the CEO of the CHT Group, Dr. Frank Naumann, Chairman of the Board. Benoit is a French citizen, 45 years old, and has been working at CHT since 2014. He is experienced in various leadership positions within the global market of textile chemicals.

Dr. Frank Naumann: "We are very happy to continue our successful cooperation with Benoit. He takes over a highly important and strategic role for the CHT Group."

Source:

CHT Gruppe

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

21.01.2021

Autoneum: Revenue development and personnel changes

Reflecting the pandemic-related drop in worldwide vehicle production, Autoneum’s revenue in local currencies fell by –18.7% in 2020, although the second half of the year saw a significant market recovery. Group revenue in Swiss francs fell by –24.2% year-on-year to CHF 1 740.6 million. For the full year 2020, the EBIT margin will be around 1.5% and the free cash flow slightly over CHF 100 million.
At the Annual General Meeting on March 25, 2021, the Board of Directors will propose Liane Hirner and Oliver Streuli for election to the Board of Directors of Autoneum Holding. Peter Spuhler will not stand for re-election.

Reflecting the pandemic-related drop in worldwide vehicle production, Autoneum’s revenue in local currencies fell by –18.7% in 2020, although the second half of the year saw a significant market recovery. Group revenue in Swiss francs fell by –24.2% year-on-year to CHF 1 740.6 million. For the full year 2020, the EBIT margin will be around 1.5% and the free cash flow slightly over CHF 100 million.
At the Annual General Meeting on March 25, 2021, the Board of Directors will propose Liane Hirner and Oliver Streuli for election to the Board of Directors of Autoneum Holding. Peter Spuhler will not stand for re-election.

At 74.5 million, the number of light vehicles produced globally in 2020 was down –16.2% compared to the previous year, where around 89 million vehicles were manufactured. Autoneum’s revenue in local currencies decreased by –18.7% in 2020, pretty much in line with the negative market dynamics. The somewhat stronger decline of revenue compared to the market results from a lower share of Asia in Autoneum's total revenue. Impacted by the appreciation of the Swiss franc against the most important currencies for Autoneum, the consolidated revenue dropped in 2020 by –24.2% to CHF 1 740.6 million. The heterogeneous development of the first and second half of the year was characteristic for the pandemic-driven automotive year 2020. Worldwide lockdowns and production stoppages at vehicle manufacturers led to a market slump in the first six months and a corresponding loss in revenue for Autoneum. Thanks to the subsequent market recovery and catch-up effects in the second half of the year, revenue improved considerably compared to the first half of the year.

Revenue development in Asia and SAMEA region significantly better than market
While revenues in local currencies of the highest-volume Business Groups Europe and North America decreased by –25.6% and –19.3% respectively, reflecting the regional, pandemic-driven market development (Europe: –22.9%; North America: –20.1%), Business Group Asia almost held its prior-year level with an organic decline of only –2.1% in 2020 thanks to the strong upturn in automobile production in China in the second half of the year and despite the fact that the number of vehicles produced in Asia fell by –11.4%.*

Personnel changes to the Board of Directors
At the Annual General Meeting on March 25, 2021, the Board of Directors of Autoneum Holding will propose Liane Hirner and Oliver Streuli for election as new members of the Board of Directors.
Liane Hirner has been CFO and member of the Management Board of Vienna Insurance Group, based in Vienna, Austria, since 2018.*

Oliver Streuli, a Swiss national, has been CEO of PCS Holding, based in Frauenfeld (Canton Thurgau), Switzerland, since 2019.*

Peter Spuhler has been a member of the Board of Directors of Autoneum since 2011 and will not stand for re-election at the Annual General Meeting on March 25, 2021.*

 

*See attached document for further informationen

Source:

Autoneum Management AG

Christian Straubhaar – New Head of Sales at Rieter Machines & Systems (c) Rieter
Christian Straubhaar
14.12.2020

Christian Straubhaar – New Head of Sales at Rieter Machines & Systems

  • In course of the succession planning, Christian Straubhaar will take on the position as Senior Vice President Sales at Rieter Machines & Systems in Winterthur on January 1, 2021.
  • Straubhaar will succeed Reto Thom who will retire.

Christian Straubhaar holds an Engineering Master’s Degree in Industrial Management from the Swiss Federal Institute of Technology in Zurich (ETH) and is a sales executive with 20 years of extensive experience in the textile industry. Recently, Straubhaar was responsible as Group Sales & Marketing Director at Itema for the world-wide sales of machines and spare parts. Prior, he held various positions in Operations and as Business Unit Head in Itema and other global textile companies.

His professional career shows a solid track record in identifying new market potentials and growing the business for the company. Straubhaar has a longstanding experience in selling to both large and small customers and developing key accounts within our industry.

  • In course of the succession planning, Christian Straubhaar will take on the position as Senior Vice President Sales at Rieter Machines & Systems in Winterthur on January 1, 2021.
  • Straubhaar will succeed Reto Thom who will retire.

Christian Straubhaar holds an Engineering Master’s Degree in Industrial Management from the Swiss Federal Institute of Technology in Zurich (ETH) and is a sales executive with 20 years of extensive experience in the textile industry. Recently, Straubhaar was responsible as Group Sales & Marketing Director at Itema for the world-wide sales of machines and spare parts. Prior, he held various positions in Operations and as Business Unit Head in Itema and other global textile companies.

His professional career shows a solid track record in identifying new market potentials and growing the business for the company. Straubhaar has a longstanding experience in selling to both large and small customers and developing key accounts within our industry.

Reto Thom has very successfully lead the Sales department at Rieter Machines & Systems for many years and made an enormous contribution to the success of the company.

More information:
Christian Straubhaar Rieter
Source:

Rieter Holding AG

Ascend announces alliance with The S Group to commercialize Acteev Protect™ yarns and fabrics (c) Ascend
Acteev Protect™ yarns and fabrics
09.12.2020

Ascend announces alliance with The S Group to commercialize Acteev Protect™ yarns and fabrics

  • Partnership offers customers access to full-scale garment design, manufacturing and packaging

Ascend Performance Materials has announced a commercial agreement with The S Group, a globally recognized provider of apparel design, development and manufacturing. The alliance will focus on commercialization of Acteev Protect™ antimicrobial yarns, fibers and fabrics, offering customers full-scale supply chain service from garment design to delivery.

The agreement pairs Ascend's world-class manufacturing operations with The S Group’s track record of success in the wholesale and direct-to-consumer apparel industry. “Our customers will now benefit from a revolutionary antimicrobial material combined with end-to-end support to guide a product from ideation to actualization,” said Lu Zhang, vice president of Acteev.

  • Partnership offers customers access to full-scale garment design, manufacturing and packaging

Ascend Performance Materials has announced a commercial agreement with The S Group, a globally recognized provider of apparel design, development and manufacturing. The alliance will focus on commercialization of Acteev Protect™ antimicrobial yarns, fibers and fabrics, offering customers full-scale supply chain service from garment design to delivery.

The agreement pairs Ascend's world-class manufacturing operations with The S Group’s track record of success in the wholesale and direct-to-consumer apparel industry. “Our customers will now benefit from a revolutionary antimicrobial material combined with end-to-end support to guide a product from ideation to actualization,” said Lu Zhang, vice president of Acteev.

The S Group offers complete supply chain management for apparel brands, including product development, manufacturing, logistics, quality assurance, packaging and order fulfillment. The company lists some of the world’s most recognized brands among its partners, including Lululemon, New Balance and Mack Weldon. Athleisure, performance, scrubs, and seamless products such as intimates, leggings, active wear, socks and gaiters will be available.

Gary Peck, CEO of The S Group, says his team is excited about the commercial potential of Acteev, especially given the new reality of global health concerns. “Garment design has primarily focused on functionality, sustainability and comfort,” said Peck. “The past year has made us all aware that safety can be a valuable feature of fabrics as well, and Acteev checks all those boxes.”

Acteev is Ascend’s patent-pending technology that embeds zinc ions in a polymer to create fibers with long-lasting antimicrobial properties. The result is a fabric that destroys odor-causing bacteria and fungi. Acteev technology is available in a wide range of textiles featuring the flexibility, softness and durability of nylon 6,6.

Recent testing on knit fabric completed at the University of Cambridge has demonstrated that Acteev technology deactivates the virus that causes COVID-19, SARS-CoV-2, with 99.9% efficacy on contact1. Ascend is working with the U.S. Environmental Protection Agency, the U.S. Food and Drug Administration and other governmental agencies to obtain the appropriate regulatory clearances to make specific claims regarding the technology’s antiviral properties.

Riri Group boosts its offer with Cobrax Metal Hub. (c) Riri Group
RIRI GROUP Cobrax Metal Hub
12.11.2020

Riri Group boosts its offer with Cobrax Metal Hub.

  • The new company in the Group is dedicated to metal accessories for luxury and haute couture, in the heart of the Tuscan fashion district.

Mendrisio – Another important milestone has been reached at Riri: the incorporation of Cobrax Metal Hub, the new company in the Group which specialises in the design, development and manufacturing of metal components for the luxury and haute couture sector. The company’s headquarters are in the heart of the Tuscan fashion district, combining high quality Made in Italy, decades-long expertise and the care for details which has always characterised Riri.

  • The new company in the Group is dedicated to metal accessories for luxury and haute couture, in the heart of the Tuscan fashion district.

Mendrisio – Another important milestone has been reached at Riri: the incorporation of Cobrax Metal Hub, the new company in the Group which specialises in the design, development and manufacturing of metal components for the luxury and haute couture sector. The company’s headquarters are in the heart of the Tuscan fashion district, combining high quality Made in Italy, decades-long expertise and the care for details which has always characterised Riri.

The new company is a result of the acquisition of 2Frame, a historical Italian brand in the industry, which is now an integral part of the Riri family, under the new name Cobrax Metal Hub. Thanks to this new entry, the Swiss Group has become the first sole supplier of metal accessories for the leatherwear industry, adding to its traditional range of zips and buttons a new line of products which includes all types of fastening, padlocks, snap hooks and buckles. It is an actual strategic hub, to offer the brands a single contact point for any needs and requests concerning metal accessories.

This new acquisition also makes it possible for Riri to respond, in an even faster and more effective way, to the demand for developing new articles and prototypes. By focusing on customer needs, Cobrax Metal Hub is actually able to design and develop customised products, guaranteeing continuous support in all process phases: from the search for materials, to technical and finishing solutions, the prototyping and sampling stage, to the industrialisation and manufacturing stage.

Renato Usoni, CEO at Riri Group adds: “Thanks to Cobrax Metal Hub the Riri Group has become the first sole supplier of accessories for the leatherwear sector. It is a project intended to add value and increase the company’s ability to serve its market, providing increasingly comprehensive and tailor-made answers, bearing witness to a vision whereby investing in the future is the best response to the scenarios, more complex than ever before, with which the whole market is confronted today”.

Source:

Menabò Group

Sateri Sustainability Vision for 2030 (c) Sateri
02.11.2020

Sateri Launches Sustainability Vision for 2030

  • Sateri pledges to Be World’s Leading Net-Positive Fibre Producer

Sateri, one of the world’s largest viscose producer, has launched its sustainability vision for 2030 to guide the company’s strategic growth in the coming decade. The Vision is anchored around four key pillars in response to environmental and social challenges faced by the cellulosic fibre industry: Climate and Ecosystem Protection, Closed Loop Production, Innovation and Circularity, and Inclusive Growth.

The Vision comes with a time-bound roadmap and measurable targets. It encompasses notable targets including net-zero carbon emissions by 2050, achieving 98% Sulphur recovery rate at all its mills by 2025, utilising textile waste and produce viscose products with 50% recycled content by 2025 and 100% by 2030, and supporting more than 300,000 local families and smallholder farmers to develop sustainable livelihoods.

  • Sateri pledges to Be World’s Leading Net-Positive Fibre Producer

Sateri, one of the world’s largest viscose producer, has launched its sustainability vision for 2030 to guide the company’s strategic growth in the coming decade. The Vision is anchored around four key pillars in response to environmental and social challenges faced by the cellulosic fibre industry: Climate and Ecosystem Protection, Closed Loop Production, Innovation and Circularity, and Inclusive Growth.

The Vision comes with a time-bound roadmap and measurable targets. It encompasses notable targets including net-zero carbon emissions by 2050, achieving 98% Sulphur recovery rate at all its mills by 2025, utilising textile waste and produce viscose products with 50% recycled content by 2025 and 100% by 2030, and supporting more than 300,000 local families and smallholder farmers to develop sustainable livelihoods.

Highlighting the significance of the Vision to the company, Sateri’s President Allen Zhang said, “As a raw material supplier, Sateri will do our part and respond to the urgent need to decouple growth from further resource impact. This is something that will underpin our growth, in addition to QPC (Quality, Productivity, Cost) and continuous improvement which are well-embedded in the company.”*

Sateri’s 2030 Vision was conceived after months of discussions with management members and external stakeholders including customers, brands and NGOs. The process was facilitated by BSR, a sustainability consultancy, led by its Asia Pacific Vice President, Jeremy Prepscius.

“The challenges facing the garment industry require all value chain participants to invest, innovate and integrate sustainability into their business models. This requires leadership and alignment and will need determination to succeed, which is what Sateri is striving to do,” said Prepscius.*

In the coming months, Sateri will form workgroups to develop action plans to deliver on the identified targets. Progress towards realising Sateri 2030 Vision will be reported in the company’s annual sustainability report and online sustainability dashboard.

Read more about Sateri 2030 Vision: www.sateri.com/sustainability/vision2030/

 

*Please see attached document for more information

Source:

Omnicom Public Relations Group

Rieter Investor Update 2020 (c) Rieter Management AG
Rieter Investor Update 2020
23.10.2020

Rieter Investor Update 2020

  • Significant recovery in order intake in third quarter 2020
  • Order intake of CHF 425.1 million after nine months
  • COVID crisis management in place
  • Continuous implementation of the strategy
  • Outlook 2020

The market recovery, which Rieter reported in June 2020, has continued. This is reflected in capacity utilization at spinning mills worldwide, which Rieter monitors. In April 2020, the proportion of producing spinning mills was around 40% while at the end of September 2020 this was around 90%. Against this backdrop, the Rieter Group increased order intake in the third quarter of 2020 to CHF 174.4 million (2nd quarter 2020: CHF 45.7 million). In the first nine months of 2020, the Rieter Group achieved a cumulative order intake of CHF 425.1 million (2019: CHF 524.5 million). Compared to the previous year period, this represents a decline of 19%.

Order Intake by Business Group

  • Significant recovery in order intake in third quarter 2020
  • Order intake of CHF 425.1 million after nine months
  • COVID crisis management in place
  • Continuous implementation of the strategy
  • Outlook 2020

The market recovery, which Rieter reported in June 2020, has continued. This is reflected in capacity utilization at spinning mills worldwide, which Rieter monitors. In April 2020, the proportion of producing spinning mills was around 40% while at the end of September 2020 this was around 90%. Against this backdrop, the Rieter Group increased order intake in the third quarter of 2020 to CHF 174.4 million (2nd quarter 2020: CHF 45.7 million). In the first nine months of 2020, the Rieter Group achieved a cumulative order intake of CHF 425.1 million (2019: CHF 524.5 million). Compared to the previous year period, this represents a decline of 19%.

Order Intake by Business Group

Due to the positive development in the third quarter of 2020, order intake at the Business Group Machines & Systems reached a total of CHF 234.5 million in the first nine months. The reason for the relatively small decline of 8% compared to the previous year is that the new machinery business was already characterized by investment restraint in the first three quarters of the year 2019. The Business Group Components recorded a reduction of 33% to CHF 116.6 million while the Business Group After Sales posted an order intake of CHF 74.0 million, a decrease of 23%. This illustrates the effects of low capacity utilization at the spinning mills, especially in the second quarter of 2020 as a result of the COVID-19 pandemic. The order backlog as of September 30, 2020, was around CHF 515 million (September 30, 2019: CHF 285 million). Cancellations were in the normal range of around 5%.

COVID Crisis Management in Place

Rieter has quickly implemented comprehensive COVID crisis management. Priority is being given to protecting employees, fulfilling customer commitments and ensuring liquidity. The necessary measures to protect employees have been implemented worldwide and the order backlog is being processed largely as planned. Rieter has introduced 40% short-time working in Switzerland and Germany for the second half of 2020. Similar measures were implemented worldwide within the scope of the available legal options. As of September 30, 2020, Rieter had liquid funds of CHF 216.7 million and unused credit lines in the mid three-digit million range in order to ensure liquidity. At the end of September 2020, net debt of CHF 1.2 million was disclosed.

Continuous Implementation of the Strategy

In recent years, Rieter has consistently implemented the strategy with the focus on innovation leadership, strengthening the business on the installed base and optimization of the costs. The company intends to forge ahead with the strategy in the coming months in order to strengthen the market position for the time after the COVID-19 pandemic. The Rieter CAMPUS is an important element of Rieter’s innovation strategy. Depending on the business situation, construction work is due to begin in the first half of 2021.

Outlook 2020

As already announced, in terms of sales and profitability Rieter expects a stronger second half of the year compared to the first half of 2020. Nevertheless, due to the deferral of deliveries by customers, Rieter will also conclude the second half of the year − and thus the full year 2020 − with a net loss. Due to the existing uncertainties, it continues to be difficult to forecast sales and profitability for the second half of 2020. For this reason, Rieter refrains from providing more specific information for the full year 2020.

More information:
Rieter Holding Ltd. Covid-19
Source:

Rieter Management AG

Meet the new FW 21-22 Riri Group collection (c) Riri Group
Over Shock
13.10.2020

Meet the new FW 21-22 Riri Group collection

  • Technology, creativity and sustainability
  • Recycled materials, bright colours, eclectic shapes: excellence is in the details, and the new creations by the Italian-Swiss group have plenty to say.

Mendrisio – Looking at the new Fall-Winter 2021-2022 collection of the Riri Group, it almost seems as if the difficult months to which the pandemic has forced the whole world, have been another new – though unwanted – challenge for the Italian-Swiss company. A testbed that sparked the mind and lit the fire of creativity. Therefore, today, the brand ingredient which for over 80 years has embellished the
garments designed by major fashion system brands with top-quality zips and buttons, also introduces a wide range of heterogeneous creations, intended to cover different aesthetic and functional requirements on the market.

This collection has been divided into three macro-topics; it is a new chapter in the history of the Group.

  • Technology, creativity and sustainability
  • Recycled materials, bright colours, eclectic shapes: excellence is in the details, and the new creations by the Italian-Swiss group have plenty to say.

Mendrisio – Looking at the new Fall-Winter 2021-2022 collection of the Riri Group, it almost seems as if the difficult months to which the pandemic has forced the whole world, have been another new – though unwanted – challenge for the Italian-Swiss company. A testbed that sparked the mind and lit the fire of creativity. Therefore, today, the brand ingredient which for over 80 years has embellished the
garments designed by major fashion system brands with top-quality zips and buttons, also introduces a wide range of heterogeneous creations, intended to cover different aesthetic and functional requirements on the market.

This collection has been divided into three macro-topics; it is a new chapter in the history of the Group.

LIFE SERVING
Keyword: sustainability. Or, more romantically, “Reuse with love”. From the use of materials produced using organic waste and recycled plastics to actual destocking – the re-introduction on the market of unsold items to give them new life through a restyled shape: the topic of “life serving”, for Riri, translates into the meticulous and constant search for materials with a low environmental impact and in the committed attempt to reduce the use of plastic to a minimum. This is why the Group has decided to use recycled polyester tapes, made with new organic cotton, pullers coated with cork, created using 100% recycled plastics or rubber taken from the sole of shoes. Stainless steel – an exceptionally resistant and sturdy material, as well being subject to no galvanic treatments and highly recyclable – characterizes chains and pullers, while the Nylon zip consists of fully recycled tape and chain, and Decor introduces a new 100% polyamide version. On the button side, “life serving” includes buttons with a cork coating, the Zero button with coating made of recycled Meryl polyamide and the F4 with a 100% recycled Nylon head and the heads made of APILON 52 (rubber made of 65% vegetable oils and energy from renewable sources) coated with microfiber from the company Alcantara.

ENGINEERING
This is definitely the most rigorous yet progressive section in the collection, drawing on technological innovation and on uncertainties related to the current situation, to play with shapes, colours and materials. Between zips and buttons there is a prevalence of squared and minimal shapes, also on the tapes of the zips through sublimation and digital printing techniques. The leading colour is grey in its variation of hues, where the insertion of coloured tones sometimes stands out. The leading material, on the other hand, is metal.

OVER SHOCK
A creative topic where “exaggeration” is the keyword, a trend whose style and character somehow remind us of Gen-Z, apart from being especially suitable for outdoors. “Over state” uses the hip hop mood and settings of the Nineties, taking them to the extreme, enlarging shapes and focusing on bright and fluorescent colours such as purple, yellow, blue, orange or green. An example of this is Storm Evo, a zip which is popular in the outdoor sector for its high levels of water resistance and strength, which features a new electric blue chain and tape with reflecting side strips. Also outstanding in terms of originality is the new purple puller, with its anti-theft shape, fixed onto a fluorescent yellow chain. The perfect expression of this category are zippers such as Decor, Nylon and Aquazip, especially recommended for the outdoor sector in general.

COLLECTION HIGHLIGHTS: RESTYLING AND INNOVATION
All the macro-categories selected for the FW 21-22 seasons are included in some special product innovations, most notably the even more minimal and thin shapes of some buttons and the introduction of five different colours for the small synthetic ring, a real point of strength in Cobrax pressure buttons. Also the range of magnetic buttons is complemented by the addition of two extra snaps. As regards zips, the Riri Group team has been working on careful restyling of shapes, more specifically in the shapes of Decor zip bodies – ideal for the luggage industry – further improved from both an aesthetic and functional viewpoint.

More information:
Fashion Mode Riri Group
Source:

Menabò Group

(c) Sateri
23.09.2020

FINEXTM Reaches New Milestones; Launches Officially at Intertextile Shanghai Apparel Fabrics

FINEXTM, Sateri’s marquee brand for recycled fibre, is now certified to the Recycled Claim Standard (RCS) which provides verification of recycled raw materials through the supply chain.

RCS is intended for use with any product that contains at least 5% recycled material. Sateri has successfully produced FINEXTM viscose fibres with up to 20% recycled content. Under the RCS certification process, each stage of production is required to be certified, beginning at the recycling stage and ending at the last seller in the final business-to-business transaction.

These new developments were announced at the official launch of FINEXTM on September 23, 2020. About 160 guests, mostly senior representatives of major fashion brands and fabric and garment makers, gathered to celebrate the milestones that cement the status of FINEXTM as a game changer for sustainable fashion.

Themed ‘Sustainable Fashion for the Future’, the launch was jointly hosted by Sateri and China International Fashion Fair (CHIC) on the sidelines of the three-day Intertextile Shanghai Apparel Fabrics, a major industry expo.

FINEXTM, Sateri’s marquee brand for recycled fibre, is now certified to the Recycled Claim Standard (RCS) which provides verification of recycled raw materials through the supply chain.

RCS is intended for use with any product that contains at least 5% recycled material. Sateri has successfully produced FINEXTM viscose fibres with up to 20% recycled content. Under the RCS certification process, each stage of production is required to be certified, beginning at the recycling stage and ending at the last seller in the final business-to-business transaction.

These new developments were announced at the official launch of FINEXTM on September 23, 2020. About 160 guests, mostly senior representatives of major fashion brands and fabric and garment makers, gathered to celebrate the milestones that cement the status of FINEXTM as a game changer for sustainable fashion.

Themed ‘Sustainable Fashion for the Future’, the launch was jointly hosted by Sateri and China International Fashion Fair (CHIC) on the sidelines of the three-day Intertextile Shanghai Apparel Fabrics, a major industry expo.

In his address, Allen Zhang, President of Sateri, said, “The development of FINEXTM has been an intensive effort for Sateri from initial commercialisation, to partnering brands like Lafuma and Rico Lee, and finally to today’s launch. This is all made possible with collaboration across the value chain – working alongside yarn spinners, garment makers and brand partners – to bring a high quality and more planetfriendly product to consumers. The fashion industry is changing fast and, beyond functionality, circularity is now of the greatest importance in apparel manufacturing.”

In the ‘2020 Sustainable Fashion Report’ released by China’s leading business news publication CBNweekly earlier this week, results of a survey with stakeholders in the fashion value chain reinforced the potential of textile recycling as a solution to the problem of textile waste arising from over-consumption and production. The report identified technology and capital as the biggest barriers to textile recycling and highlighted the critical role brands play in mobilising manufacturers and consumers to advance sustainable fashion.

As part of its efforts to promote textile fibre recycling in China, Sateri is in dialogue with the China Association of Circular Economy (CACE) to undertake a comprehensive study on the industrial-scale textile waste recycling landscape in the country. The study is expected to commence next year.

More information:
FinexTM Sateri recycling fibers
Source:

Omnicom Public Relations Group / Sateri

Collaboration Between DuPont™ Sorona® and Sateri’s EcoCosy® Results in Innovative Fabrics for Fashion and Athleisure (c) Sateri
StretchCosy
10.09.2020

Innovative Fabrics for Fashion and Athleisure

  • Collaboration Between DuPont™ Sorona® and Sateri’s EcoCosy®

DuPont™ Sorona® and Sateri’s EcoCosy® have together developed a new fabric called StretchCosy™. The fabric uses a blend of Sorona®, a partially plant-based fibre, and Sateri’s ultra-comfortable and near weightless EcoCosy® fibres to achieve a soft material that is highly stretchable, shape-retaining and, most importantly, sustainably sourced.

StretchCosy™ combines the mechanical stretch of Sorona® stretch fibres, which gives it excellent stretch and long-lasting, consistent recovery, with the soft, cotton-like breathability and smooth silk-like texture of EcoCosy® for an unparalleled fabric that is high-performing and well-suited for fashion and sportswear.

  • Collaboration Between DuPont™ Sorona® and Sateri’s EcoCosy®

DuPont™ Sorona® and Sateri’s EcoCosy® have together developed a new fabric called StretchCosy™. The fabric uses a blend of Sorona®, a partially plant-based fibre, and Sateri’s ultra-comfortable and near weightless EcoCosy® fibres to achieve a soft material that is highly stretchable, shape-retaining and, most importantly, sustainably sourced.

StretchCosy™ combines the mechanical stretch of Sorona® stretch fibres, which gives it excellent stretch and long-lasting, consistent recovery, with the soft, cotton-like breathability and smooth silk-like texture of EcoCosy® for an unparalleled fabric that is high-performing and well-suited for fashion and sportswear.

Created in 2019, StretchCosy™ is a fabric breakthrough that made it possible for natural plant-based fibres to be more extensively used in various applications, e.g. t-shirts, shirting, bottoms, jackets, dresses, hoodies and underwear. Previously, cellulosic fibres were rarely found in sportswear, due to concerns such as pilling. The combination of Sorona® and EcoCosy® in StretchCosy™ has eliminated this concern, hinting at the future of activewear where performance combined with sustainability will be the norm.

Source:

Omnicom Public Relations Group

14.08.2020

Two More Sateri Mills Confirmed EU-BAT Compliant

  • World’s largest viscose producer well on track for all of its five mills to be EU-BAT compliant by 2023

Two more Sateri mills in China, Sateri Jiujiang and Sateri Jiangxi, have received verification of compliance to the emissions limits set out in the European Union Best Available Techniques Reference Document (EU-BAT BREF) on Polymers. This brings the total number of EU-BAT compliant mills to three of five, accounting for over 60 per cent of Sateri’s overall fibre production capacity. In April this year, Sateri Fujian was the company’s first mill to be verified as being EU-BAT compliant. Verified by independent consultant Sustainable Textile Solutions (STS), a division of BluWin Limited (UK), the parameters of the EU-BAT BREF assessed included resource utility efficiency, wastewater discharge and air emission. As a highlight, STS’ assessment concluded that the energy intensity and air emission of Sateri Jiujiang and Sateri Jiangxi were well under EU-BAT norms for viscose production. Considering the EU-BAT energy requirements limit of 30GJ/MTf, the mills were each saving about 1,100 kg CO2/MT of fibre production.

  • World’s largest viscose producer well on track for all of its five mills to be EU-BAT compliant by 2023

Two more Sateri mills in China, Sateri Jiujiang and Sateri Jiangxi, have received verification of compliance to the emissions limits set out in the European Union Best Available Techniques Reference Document (EU-BAT BREF) on Polymers. This brings the total number of EU-BAT compliant mills to three of five, accounting for over 60 per cent of Sateri’s overall fibre production capacity. In April this year, Sateri Fujian was the company’s first mill to be verified as being EU-BAT compliant. Verified by independent consultant Sustainable Textile Solutions (STS), a division of BluWin Limited (UK), the parameters of the EU-BAT BREF assessed included resource utility efficiency, wastewater discharge and air emission. As a highlight, STS’ assessment concluded that the energy intensity and air emission of Sateri Jiujiang and Sateri Jiangxi were well under EU-BAT norms for viscose production. Considering the EU-BAT energy requirements limit of 30GJ/MTf, the mills were each saving about 1,100 kg CO2/MT of fibre production.

The mills also followed local requirements for controlling ecological impact for viscose production, and there were no gaps identified against EU-BAT. Sateri Jiangxi is a 16-year-old mill and the company’s first and oldest, while Sateri Jiujiang was acquired and expanded in 2015. Said Allen Zhang, President of Sateri, “For three of our five mills to meet the EU-BAT emissions limits in such a short span of time is a testament to our continued investment in best-in-class technologies. This applies to all our mills – regardless of whether they are existing, acquired, or newly constructed ones – as we aim to achieve a high level of sustainability performance across all our operations.”

The company is well on track for its remaining two mills, Sateri Jiangsu and Sateri China which were acquired and newly-built in 2019 respectively, to comply with EU-BAT’s recommended emission levels by 2023.

Source:

Omnicom Public Relations Group

13.08.2020

As expected, SGL Carbon’s second quarter impacted by Corona pandemic

  • Sales and recurring EBIT significantly decreased in first half of 2020

As expected, the second quarter of SGL Carbon was impacted by the Corona pandemic, but not to the extent predicted in May when the quarterly statement for the period ended March 31, 2020 was published. Sales in the three months as per end of June decreased approximately 23 percent year-on-year, whereas Group recurring EBIT was at around 2 million euros and thus higher than anticipated. In total, SGL Carbon reached Group sales of 457 million euros in the first half year. This corresponds to a decrease of around 19 percent year-on-year. The decline is due to a pandemic-related overall weaker business development as well as expected declining developments in the market segments Battery & other Energy (GMS) and Textile Fibers (CFM) due to capacity adjustments. Group recurring EBIT was down approximately 71 percent to 11 million euros.

At a glance*:

  • Sales and recurring EBIT significantly decreased in first half of 2020

As expected, the second quarter of SGL Carbon was impacted by the Corona pandemic, but not to the extent predicted in May when the quarterly statement for the period ended March 31, 2020 was published. Sales in the three months as per end of June decreased approximately 23 percent year-on-year, whereas Group recurring EBIT was at around 2 million euros and thus higher than anticipated. In total, SGL Carbon reached Group sales of 457 million euros in the first half year. This corresponds to a decrease of around 19 percent year-on-year. The decline is due to a pandemic-related overall weaker business development as well as expected declining developments in the market segments Battery & other Energy (GMS) and Textile Fibers (CFM) due to capacity adjustments. Group recurring EBIT was down approximately 71 percent to 11 million euros.

At a glance*:

  • Sales in the second quarter approximately 23 percent below prior-year period; Group recurring EBIT of around 2 million euros was slightly better than anticipated at the presentation of the results of the first quarter 2020
  • Group sales in the first half year 2020 at almost 457 million euros and thus around 19 percent below the prior-year period; decrease in sales due to pandemic-related overall weaker business development as well as expected declining developments in the market segments Battery & other Energy (GMS) and Textile Fibers (CFM)
  • Group recurring EBIT down approximately 71 percent to 11 million euros
  • As a result of measures taken at an early stage and contrary to the normal seasonal trend, cash and cash equivalents at nearly 154 million euros as of June 30, 2020 developed very positively compared to the end of 2019
  • According to the full year forecast published on July 28, 2020, SGL Carbon expects Group sales to decline by 15 to 20 percent and a slightly positive operating recurring EBIT
  • Dr. Torsten Derr, CEO of SGL Carbon: "My ambition is to achieve lasting success with SGL Carbon. Over the past two months, we have been conducting a comprehensive analysis of our processes, structures and markets. Based on this, we will identify the options that will enable us to sustainably increase our profitability. The Corona pandemic is forcing us to act even faster."

*Please read the attached document for more information

More information:
SGL Carbon Coronakrise Umsatz
Source:

SGL CARBON SE Corporate Communications

28.07.2020

Autoneum: Corona-related slump in revenue – bottom point overcome

The coronavirus pandemic and its massive impact on the automotive industry led to an un-precedented market slump in the first half of 2020 and a corresponding revenue decline at Autoneum. Revenue in local currencies fell by –32.7% compared to the prior-year period, and in Swiss francs by –36.8% to CHF 730.6 million. The turnaround program for the North American sites made further progress in the first six months and is showing the targeted results. However, they were clearly overcompensated by the massive impact of the corona-virus crisis, which led to a negative net result of CHF –54.9 million despite comprehensive cost flexibilization measures.

The coronavirus pandemic and its massive impact on the automotive industry led to an un-precedented market slump in the first half of 2020 and a corresponding revenue decline at Autoneum. Revenue in local currencies fell by –32.7% compared to the prior-year period, and in Swiss francs by –36.8% to CHF 730.6 million. The turnaround program for the North American sites made further progress in the first six months and is showing the targeted results. However, they were clearly overcompensated by the massive impact of the corona-virus crisis, which led to a negative net result of CHF –54.9 million despite comprehensive cost flexibilization measures.

Like the entire automobile industry, Autoneum was massively impacted by the effects of the corona-virus pandemic in the first half of the year. The temporary plant closures at almost all customers in every region, especially in the second quarter of the year, not only led to an unprecedented market collapse, but also to a production stop at all 55 Autoneum sites. Starting in February in China and one month later in all other regions, vehicle manufacturers temporarily shut down production completely. The corresponding massive drop in global vehicle production led to a slump in revenue at Autoneum of –32.7% in local currencies. This reflects the development of the market in the first half of 2020, which contracted by –33.2% year-on-year. Revenue in Swiss francs at Autoneum fell by –36.8% to CHF 730.6 million (prior-year period: CHF 1 156.1 million). Revenue development in all Business Groups outperformed the respective markets, particularly in Asia and the SAMEA (South America, Middle East and Africa) region.


 Like the entire automobile industry, Autoneum was massively impacted by the effects of the corona-virus pandemic in the first half of the year. The temporary plant closures at almost all customers in every region, especially in the second quarter of the year, not only led to an unprecedented market collapse, but also to a production stop at all 55 Autoneum sites. Starting in February in China and one month later in all other regions, vehicle manufacturers temporarily shut down production com-pletely. The corresponding massive drop in global vehicle production led to a slump in revenue at Autoneum of –32.7% in local currencies. This reflects the development of the market in the first half of 2020, which contracted by –33.2% year-on-year. Revenue in Swiss francs at Autoneum fell by –36.8% to CHF 730.6 million (prior-year period: CHF 1 156.1 million). Revenue development in all Business Groups outperformed the respective markets, particularly in Asia and the SAMEA (South America, Middle East and Africa) region.

Autoneum promptly responded to the pandemic-related market slump by adopting extensive cost-cutting measures in all regions. These include the reduction of employee costs by, among other things, adjusting time accounts, introducing short-time work at eligible locations and temporary layoffs as well as headcount reduction, mainly among temporary workers. In addition, operating expenditures were limited to the absolutely necessary. The investment volume for 2020, already reduced from previous years, was downsized even further. Autoneum continues to benefit in this regard from the high level of investments undertaken in recent years.

 Although the coronavirus crisis and the measures taken to contain it dominated Autoneum’s course of business in the first half of 2020, the Company achieved necessary operational and financial im-provements during this period. The comprehensive turnaround program for the North American sites made further progress and is on track. Efficiency improvements already achieved there had a posi-tive effect on the figures of the first half-year, but were significantly overcompensated by the substan-tial impact of the COVID-19 crisis. Savings and cost flexibilization measures taken immediately and implemented worldwide in view of the revenue loss could not offset the ongoing, capacity-related fixed costs. This led at the Group level to a negative EBIT of CHF –31.8 million (prior-year period: CHF 16.4 million), which equates to an EBIT margin of –4.4% (prior-year period: 1.4%). The net result decreased because of the severe revenue shortfall to CHF –54.9 million (prior-year period: CHF –6.0 million).

Outlook
For 2020 Autoneum expects revenue to develop at market level. Although customers’ production volumes should increase again in the second half of 2020 compared with the first semester, latest fore-casts indicate that they will remain clearly below the level of the second half of 2019. Immediately implemented and ongoing cost reduction measures as well as further operational optimizations also within the turnaround program in North America will lead to improvements in the second half of the year. Due to the current uncertainties, a reliable statement on the net result for the full year 2020 thus cannot be made. With regard to the mid-term targets, a recovery of the profitability level is expected, but it will largely depend on the market development.

Source:

Autoneum Management AG

28.05.2020

Rieter: Business Situation facing COVID-19 Pandemic

  • Since the end of March 2020, COVID-19 has led to very low demand in all Business Groups
  • Comprehensive crisis management implemented
  • Loss in the mid double-digit million range expected in the first half of 2020
  • Plans to introduce short-time working to adjust capacity in Switzerland and Germany
  • Strategy will continue to be implemented

Due to COVID-19, a large number of spinning mills have stopped production worldwide. Since the end of March 2020, this has led to low demand for spare parts and wear & tear parts and delays in testing programs during the development of new machines. Customers are postponing investment projects or unable to implement them due to restrictions imposed by national governments. This results in low demand for new machines.

  • Since the end of March 2020, COVID-19 has led to very low demand in all Business Groups
  • Comprehensive crisis management implemented
  • Loss in the mid double-digit million range expected in the first half of 2020
  • Plans to introduce short-time working to adjust capacity in Switzerland and Germany
  • Strategy will continue to be implemented

Due to COVID-19, a large number of spinning mills have stopped production worldwide. Since the end of March 2020, this has led to low demand for spare parts and wear & tear parts and delays in testing programs during the development of new machines. Customers are postponing investment projects or unable to implement them due to restrictions imposed by national governments. This results in low demand for new machines.

Comprehensive crisis management
Rieter has implemented comprehensive crisis management. Priorities are being given to protecting employees, fulfilling customer commitments and ensuring liquidity. The necessary measures to protect employees have been implemented worldwide.
The order backlog of well in excess of CHF 500 million is being processed largely according to plan, despite the existing bottlenecks in the supply chains. Less than 5% of the orders in the order backlog have been canceled.
Rieter has already implemented measures to ensure liquidity and reduce costs. The company has good net liquidity and undrawn credit lines in the mid three-digit million range.
Loss expected in the first half of 2020
As already reported, Rieter expects sales and earnings in the first half of 2020 to be significantly below the prior year level.

Loss expected in the first half of 2020
As already reported, Rieter expects sales and earnings in the first half of 2020 to be significantly below the prior year level. The effects of COVID-19 will place an additional burden on the first half of 2020. Rieter therefore expects sales in the first half of 2020 to be less than CHF 300 million. Despite the countermeasures implemented at the net profit level, this will lead to a loss in the mid double-digit million range.

Plans to introduce short-time working to adjust capacity
Rieter plans to apply for short-time working for the areas with forecasted low capacity utilization at the locations in Switzerland and Germany. The application will be for 40% short-time working in the third quarter of 2020. Talks with staff representatives will begin next week.
As a sign of solidarity, Rieter’s Board of Directors, Group Executive Committee and the senior management will waive 10%-20% of their salaries temporarily.

Implementation of the strategy
In recent years, Rieter has consistently implemented the strategy based on innovation leadership, strengthening the business in components, spare parts and services and the adjustment of cost structures. The company intends to forge ahead with the implementation of the strategy in the coming months, thus strengthening its market position for the time after the COVID-19 pandemic.
The next information on the course of business is planned with the publication of the half-year results on July 16, 2020
 

More information:
Coronavirus Rieter
Source:

Rieter Holding AG

25.05.2020

Sateri Enters China’s Lyocell Fibre Market

Towards Closed-Loop Manufacturing – Sateri Enters China’s Lyocell Fibre Market

  • new 20,000 ton Lyocell line commences production in Shandong

Sateri has successfully commenced production of Lyocell fibre in Rizhao, Shandong, China. In collaboration with Asia Symbol, China’s leading producer of pulp and packaging board, the newly installed 20,000 ton per annum production line will broaden Sateri’s portfolio of high quality fibre products, and bolster Lyocell supply to the textile and non-woven markets.

Towards Closed-Loop Manufacturing – Sateri Enters China’s Lyocell Fibre Market

  • new 20,000 ton Lyocell line commences production in Shandong

Sateri has successfully commenced production of Lyocell fibre in Rizhao, Shandong, China. In collaboration with Asia Symbol, China’s leading producer of pulp and packaging board, the newly installed 20,000 ton per annum production line will broaden Sateri’s portfolio of high quality fibre products, and bolster Lyocell supply to the textile and non-woven markets.

Industry associations such as the China National Textile and Apparel Council (CNTAC) welcome the news.
A natural and biodegradable fibre, Sateri’s Lyocell is made from wood pulp sourced from sustainable plantations. It is manufactured using closed-loop technology, requiring minimal chemical input during the production process, and utilising an organic solvent that can be almost fully recovered and recycled.
Lyocell is used to produce high quality textiles and personal hygiene materials. Textiles made from Lyocell possess high tenacity and bright lustre, and share similar qualities with textiles made from viscose – soft and silky with good drape, breathability, and absorption.

More information:
Sateri China Asia lyocell fibers
Source:

Omnicom Public Relations Group

06.04.2020

Sateri’s Fujian Mill Complies with EU-BAT Standard

Rest of the Mills to Complete Assessments and Comply by 2023

Sateri’s mill in Fujian, China, has been verified to comply with the European Union Best Available Techniques (EU-BAT) standard. Verified by independent consultant Sustainable Textile Solutions (STS), a division of BluWin Limited (UK), the parameters of the standard assessed included resource utility efficiency, wastewater discharge and air emission.

Rest of the Mills to Complete Assessments and Comply by 2023

Sateri’s mill in Fujian, China, has been verified to comply with the European Union Best Available Techniques (EU-BAT) standard. Verified by independent consultant Sustainable Textile Solutions (STS), a division of BluWin Limited (UK), the parameters of the standard assessed included resource utility efficiency, wastewater discharge and air emission.

In the assessment report, STS noted that all of Sateri Fujian’s mill parameters assessed were within the range of EU-BAT limits. Notably, its energy intensity, sulphur to air, and chemical oxygen demand (COD) were well under EU-BAT norms. With the use of cutting-edge technologies for air emissions control, the total sulphur recovery rate is over 98%. Sateri Fujian accounts for over 20% of Sateri’s annual total production capacity.
The compliance with EU-BAT standard comes on the back of several key manufacturing and product related industry certifications and standards which Sateri has attained. These include OEKO-TEX®’s MADE IN GREEN, STeP, and STANDARD 100. Sateri is one of the world’s first viscose producers to complete the Higg Facility Environmental Module (FEM) 3.0 assessment. Sateri is also part of the multi-stakeholder Zero Discharge of Hazardous Chemicals (ZDHC) manmade cellulose fibre working group, which is developing guidelines to reduce environmental emissions. As a founding member of the Collaboration for Sustainable Development of Viscose (CV), Sateri is supporting the development of CV’s 2025 Roadmap which considers industry best management practices and global certification standards.

Source:

Omnicom Public Relations Group

SGL Carbon: fiscal year 2019 (c) SGL Carbon
SGL Carbon: fiscal year 2019
12.03.2020

SGL Carbon: fiscal year 2019

Diverging development in the two business units impact fiscal year 2019 of SGL Carbon – Group guidance for 2020 confirmed

  • Consolidated sales revenues in fiscal year 2019 up by 4 percent to around 1.1 billion euros
  • Consolidated recurring EBIT down by 25 percent to 48 million euros; record results of graphite specialities business did not fully compensate for the weak development in the carbon fiber business
  • Composites – Fibers & Materials (CFM): Cyclical und structural weaknesses impact the result of the market segments Wind Energy, Textile Fibers and Industrial Applications, which have limited strategic significance in the medium term
  • Graphite Materials & Systems (GMS): Sales and earnings on record level due to strong growth in the market segments Semiconductors and Automotive
  • Non-cash impairment charge of around 75 million euros was recorded at CFM in the third quarter of 2019
  • Free cash flow significantly improved
  • Issue of a new corporate bond and early redemption of the 2015/2020 convertible bond has significantly improved the maturity profile
  • SGL Carbon confirms guidance for fiscal ye

Diverging development in the two business units impact fiscal year 2019 of SGL Carbon – Group guidance for 2020 confirmed

  • Consolidated sales revenues in fiscal year 2019 up by 4 percent to around 1.1 billion euros
  • Consolidated recurring EBIT down by 25 percent to 48 million euros; record results of graphite specialities business did not fully compensate for the weak development in the carbon fiber business
  • Composites – Fibers & Materials (CFM): Cyclical und structural weaknesses impact the result of the market segments Wind Energy, Textile Fibers and Industrial Applications, which have limited strategic significance in the medium term
  • Graphite Materials & Systems (GMS): Sales and earnings on record level due to strong growth in the market segments Semiconductors and Automotive
  • Non-cash impairment charge of around 75 million euros was recorded at CFM in the third quarter of 2019
  • Free cash flow significantly improved
  • Issue of a new corporate bond and early redemption of the 2015/2020 convertible bond has significantly improved the maturity profile
  • SGL Carbon confirms guidance for fiscal year 2020: sales expected slightly below previous year; recurring EBIT approximately 10 to 15 percent below previous year level
  • Dr. Michael Majerus, Spokesman of the Board of Management of SGL Carbon: “The financial development of the fiscal year 2019 conceals the fact that our strategic orientation is correct. This is evident from our growth and the increasing number of contracts and projects we acquired in our strategic core markets. Main drivers are the topics of sustainable mobility and energy as well as digitization. Therefore, we expect that we can grow our consolidated revenue by a mid to high single-digit percentage per year on average between 2020 and 2024.“

The fiscal year 2019 developed very differently in the two business units of SGL Carbon. The record results in the graphite specialities business could not fully compensate for the weak development in the market segments Wind Energy, Textile Fibers and Industrial Applications in the carbon fiber business. Group sales grew by 4 percent to 1.1 billion euros. Recurring Group EBIT declined by 25 percent to 48 million euros. Due to the ongoing weakness in the market segments Textile Fibers and Industrial Applications the business unit CFM recorded a non-cash impairment loss of 75 million euros in the third quarter of 2019. With minus 90 (prior year: plus 41) million euros, consolidated Group result declined significantly compared to last year’s good results. The Group confirms its guidance for 2020 published in October 2019.

Group sales are expected to decline slightly compared to the prior-year level, whereas Group recurring EBIT is expected to reach a result around 10 to 15 percent below the prior-year level. Consolidated net result of the Group in 2020 should strongly improve compared to prior-year level to a low double-digit loss.

More information:
SGL Carbon
Source:

SGL Carbon

Autoneum (c) autoneum
Autoneum
04.03.2020

Autoneum: Report on financial year 2019

Net result impacted by operating losses and high impairments in North America

In 2019, Autoneum grew organically by 2.5% and has thereby significantly outperformed the declining market. In Swiss francs, revenue rose slightly to CHF 2 297.4 million. However, as previously communicated, operational inefficiencies in North America and impairments on fixed assets in that region had a particularly strong impact on profitability and led to a net loss of CHF –77.7 million. The Board of Directors therefore proposes that no dividend bedistributed for the 2019 financial year. Based on the new turnaround program launched in North America at the beginning of this year, significant profitability increases are expected for 2020.

Net result impacted by operating losses and high impairments in North America

In 2019, Autoneum grew organically by 2.5% and has thereby significantly outperformed the declining market. In Swiss francs, revenue rose slightly to CHF 2 297.4 million. However, as previously communicated, operational inefficiencies in North America and impairments on fixed assets in that region had a particularly strong impact on profitability and led to a net loss of CHF –77.7 million. The Board of Directors therefore proposes that no dividend bedistributed for the 2019 financial year. Based on the new turnaround program launched in North America at the beginning of this year, significant profitability increases are expected for 2020.

2019 was an extremely challenging year for the automobile industry. The continuing weakness of the global economy, ongoing trade disputes and the increasing regulation of mobility impacted vehicle demand negatively. But 2019 was also a year of change for Autoneum internally. An in-depth analysis carried out by the new Group Management in the fall showed a need to reevaluate the Group’s performance over the short- to medium-term. In Business Group North America, the operational and commercial problems have proven more extensive than originally assumed. As a result, the turnaround program launched in spring 2019 was replaced at the beginning of 2020 with a dedicated and far more comprehensive program for the North American sites.

Revenue growth despite a shrinking global market
As a result of weak demand, the number of light vehicles produced worldwide fell again sharply in 2019 compared to the previous year; whereby the decline of almost –6% was much steeper than in 2018. Thanks to numerous production ramp-ups and a favorable model portfolio, Autoneum generated organic revenue growth1 of 2.5%, despite the global market cooling. Revenue consolidated in Swiss francs rose by 0.7% from CHF 2 281.5 million to CHF 2 297.4 million.

Profitability2 impacted by operational inefficiencies and impairments
Operational inefficiencies in North America and impairments on fixed assets in this region were the main reason for the – first-ever – negative net result in 2019. In addition, the sharp drop in automobile production in Europe and China as well as associated lower utilization of production capacities in the affected Business Groups also burdened the Group’s profitability. EBITDA excluding IFRS 16 effects decreased to CHF 126.0 million (2018: CHF 197.2 million), which corresponds to an EBITDA margin of 5.5% (2018: 8.6%). One-time charges from impairments in the amount of CHF –68.0 million had a negative impact on EBIT, reducing it to CHF –32.9 million (2018: CHF 114.1 million). Without these one-time charges, EBIT amounted to CHF 35.0 million. The EBIT margin 1 Change in revenue in local currencies, adjusted for hyperinflation. 2 The figures for the 2019 financial year include IFRS 16 effects. Autoneum Management Ltd . Media Release . March 4, 2020 Page 2/5 excluding impairments was at 1.5% in 2019, and taking those into account the margin decreased to –1.4% (2018: 5.0%).

 

More information:
Autoneum
Source:

autoneum

Compact II (c) Owl Media
Compact II
03.03.2020

Eltex of Sweden AB reports success with its Eye Compact II yarn

A close eye on quality with the Eye Compact II

Eltex of Sweden AB, a member of TMAS, the Swedish textile machinery association, reports solid success with its Eye Compact II yarn monitoring system for carpet tufting machines, since its launch at ITMA 2019 in Barcelona last June.

The sensor units of the Eye Compact II,Brian Hicks, Eltex CEO explains, have been successfully miniaturised to approximately a third of the size of those with the established Compact system, allowing them to be mounted on the very latest high speed tufting machines that are graphics driven, with limited space at the puller rollers.

Early stage prevention
Unlike the sensor systems that are employed at later positions on tufting machines – in order to detect faults in the formed fabric – Eye Compact II technology is about prevention at an earlier stage, through the detection of missing yarns.

A close eye on quality with the Eye Compact II

Eltex of Sweden AB, a member of TMAS, the Swedish textile machinery association, reports solid success with its Eye Compact II yarn monitoring system for carpet tufting machines, since its launch at ITMA 2019 in Barcelona last June.

The sensor units of the Eye Compact II,Brian Hicks, Eltex CEO explains, have been successfully miniaturised to approximately a third of the size of those with the established Compact system, allowing them to be mounted on the very latest high speed tufting machines that are graphics driven, with limited space at the puller rollers.

Early stage prevention
Unlike the sensor systems that are employed at later positions on tufting machines – in order to detect faults in the formed fabric – Eye Compact II technology is about prevention at an earlier stage, through the detection of missing yarns.

Critically, the sensors need to be installed after the last puller roller and before the tufting needles, because otherwise the roller could still be feeding yarns that will not been successfully taken by the needles. This is only possible with the extremely slim Eye Compact II units, which can also be positioned either above or below the rollers.

Guarantee
Another benefit is that the sensors can be arranged more closely together, with each of them monitoring 16 yarn positions, and their robustness ensures that once fitted, there is little the technicians or operators need to do.

Automatic
The Eye Compact II system easily learns pattern changes and displays the number of yarns involved to the operator for confirmation, and different parameters for different yarns groups can also even be set if required. With its research and development work primarily carried out at its headquarters in Osby, Sweden, and North American sales and service operated from its subsidiary in South Carolina, the manufacturing plant of Eltex has been located at Templemore in Ireland since 1976, providing significant advantages in terms of high flexibility and logistical services to customers on both sides of the Atlantic.

 

More information:
Eltex of Sweden AB TMAS
Source:

Owl Media