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OUTLOOK24 Conference Photo Edana
01.10.2024

OUTLOOK24: Successful conference and exhibition

OUTLOOK™ 2024 took place on 24-26 September 2024 in Rome, gathering a record of 549 delegates from 212 companies and 37 countries across the nonwovens personal care, hygiene & wipes products value chain.

OUTLOOK24 Conference
The conference, structured across five key sessions, featured 26 speakers covering a diverse array of critical topics impacting not only the nonwovens industry but society at large. These topics included cutting-edge innovations and eco-design, evolving market dynamics, navigating new EU regulations, the future of absorbent hygiene products, sustainability, retail strategies, and the challenges posed by China's influence on European commerce.

The event's first day opened with a compelling presentation by Joachim De Vos, Managing Partner and Founder of Living Tomorrow & TomorrowLab. As an expert in strategic innovation and scenario planning, he shared valuable insights on guiding organizations towards future-readiness. He highlighted the emerging success factors, emphasizing how Generative AI can be leveraged to develop scenarios for the nonwovens industry, serving as a powerful roadmap for future innovation.

OUTLOOK™ 2024 took place on 24-26 September 2024 in Rome, gathering a record of 549 delegates from 212 companies and 37 countries across the nonwovens personal care, hygiene & wipes products value chain.

OUTLOOK24 Conference
The conference, structured across five key sessions, featured 26 speakers covering a diverse array of critical topics impacting not only the nonwovens industry but society at large. These topics included cutting-edge innovations and eco-design, evolving market dynamics, navigating new EU regulations, the future of absorbent hygiene products, sustainability, retail strategies, and the challenges posed by China's influence on European commerce.

The event's first day opened with a compelling presentation by Joachim De Vos, Managing Partner and Founder of Living Tomorrow & TomorrowLab. As an expert in strategic innovation and scenario planning, he shared valuable insights on guiding organizations towards future-readiness. He highlighted the emerging success factors, emphasizing how Generative AI can be leveraged to develop scenarios for the nonwovens industry, serving as a powerful roadmap for future innovation.

On the second day, James Kynge, the Europe-China correspondent for the Financial Times, delivered a keynote address., "The China Challenge", emphasizing China's rapid rise as a global tech superpower, noting that the country produced more than half of the world's robots last year. He explored the far-reaching impact of this growth on European commerce, highlighting the challenges and outlined strategies for European companies.

The final day of OUTLOOK™ Jack Stratten, Director of Insider Trends. highlighted in his presentation, “The polarization of choice: How retailers and brands are responding to market and product saturation,” in an unprecedented market saturation that leaves 64% of consumers feeling overwhelmed by choices. He discussed how massive retail platforms drive product saturation, influencing both quality and variety and concluded that differentiation in this crowded landscape occurs by focusing on high-quality, curated selections.

OUTLOOK24 Exhibition
As part of its commitment to fostering connections within the industry, OUTLOOK™ 2024 continued its tradition of offering extensive networking opportunities to its delegates. This year’s event featured a tabletop exhibition, where 20 companies had the chance to showcase their expertise over the 3 days.

The next edition of OUTLOOK™ will take place from 23-25 September 2025, in Budapest, Hungary at the Marriott Hotel, Budapest.

 

More information:
Edana outlook nonwovens
Source:

Edana

30.08.2024

Stratasys: Second Quarter 2024 Financial Results

Second Quarter 2024 Financial Results Compared to Second Quarter 2023:

Second Quarter 2024 Financial Results Compared to Second Quarter 2023:

  • Revenue of $138.0 million, compared to $159.8 million ($154.6 million net of divestments).
  • GAAP gross margin of 43.8%, compared to 41.5%.
  • Non-GAAP gross margin of 49.0%, compared to 48.5%.
  • GAAP operating loss of $26.0 million, compared to an operating loss of $33.7 million.
  • Non-GAAP operating loss of $3.2 million, compared to non-GAAP operating income of $5.0 million.
  • GAAP net loss of $25.7 million, or $0.36 per diluted share, compared to a net loss of $38.6 million, or $0.56 per diluted share.
  • Non-GAAP net loss of $3.0 million, or $0.04 per diluted share, compared to non-GAAP net income of $2.5 million, or $0.04 per diluted share.
  • Adjusted EBITDA of $2.3 million, compared to $10.6 million.
  • Cash used in operating activities of $2.4 million, compared to $23.2 million.

2024 Financial Outlook:
Based on current market conditions and assuming that the impacts of global inflationary pressures, relatively high interest rates and supply chain costs do not impede economic activity further, the Company is updating its outlook for the full year 2024 as follows:

  • Revenue of $570 million to $580 million.
  • Third quarter revenue slightly higher than second quarter revenue.
  • Non-GAAP gross margin of 48.7% to 49.0%.
  • Operating expenses of $276 million to $278 million.
  • Non-GAAP operating margin of 0.5% to 1.0%.
  • GAAP net loss of $106 million to $91 million, or ($1.50) to ($1.29) per diluted share.
  • Includes one-time extraordinary costs associated with Stratasys’ strategic alternatives process.
  • Non-GAAP net income of $1 million to $4 million, or $0.01 to $0.05 per diluted share.
  • Adjusted EBITDA of $24 million to $27 million.
  • Capital expenditures of $20 million to $25 million.
More information:
Stratasys financial year 2024
Source:

Stratasys Ltd.

SGL Carbon: Report on first half 2024 (c) SGL Carbon SE
09.08.2024

SGL Carbon: Report on first half 2024

  • Graphite Solutions with slight sales growth and positive margin development
  • Process Technology again improves on good prior-year figures
  • Weak demand in Carbon Fibers continues to impact Group sales and profitability
  • Despite slight decline in sales (-4.0%), EBITDA margin improves from 15.7% to 16.1% compared to the first half of the previous year
  • Outlook for 2024 confirmed

Q2 2024 confirms SGL Carbon's business development in an increasingly volatile market environment. After €272.6 million in Q1 and €265.4 million in Q2, SGL Carbon generated consolidated sales of €538.0 million in the first half of 2024 (H1 2023: €560.5 million). This corresponds to a slight decrease of 4.0% compared to the prior year period; adjusted for currency effects, Group sales decreased by only 2.2%. By contrast, adjusted EBITDA, an important key figure for the Group, remained almost constant year-on-year at €86.5 million (H1 2023: €88.0 million).

  • Graphite Solutions with slight sales growth and positive margin development
  • Process Technology again improves on good prior-year figures
  • Weak demand in Carbon Fibers continues to impact Group sales and profitability
  • Despite slight decline in sales (-4.0%), EBITDA margin improves from 15.7% to 16.1% compared to the first half of the previous year
  • Outlook for 2024 confirmed

Q2 2024 confirms SGL Carbon's business development in an increasingly volatile market environment. After €272.6 million in Q1 and €265.4 million in Q2, SGL Carbon generated consolidated sales of €538.0 million in the first half of 2024 (H1 2023: €560.5 million). This corresponds to a slight decrease of 4.0% compared to the prior year period; adjusted for currency effects, Group sales decreased by only 2.2%. By contrast, adjusted EBITDA, an important key figure for the Group, remained almost constant year-on-year at €86.5 million (H1 2023: €88.0 million). The adjusted EBITDA margin improved from 15.7% to 16.1%, in particular due to the continued positive sales trend in the Semiconductor market segment and the associated change in the product mix. On the other hand, the persistently weak demand in the Carbon Fibers business unit continued to weigh on the Group's sales and earnings
performance.

Outlook
The current volatile development in some of their sales markets, which in some cases is below expectations, affects the expected sales and earnings performance of the business units. Due to the company's diversified business model, changes in demand for certain products can be largely offset by higher-than-expected sales in other businesses. SGL Carbon therefore continued to expect to achieve the forecast which was issued in March for the SGL Carbon Group at the lower end of the stated range. For fiscal year 2024, SGL Carbon expects Group sales to be at the previous year's level (2023: €1,089.1 million) and adjusted EBITDA at Group level to be between €160 million and €170 million.

Thomas Dippold, CFO of SGL Carbon, explains: “One of our most important market segments is the semiconductor industry and in particular the demand for graphite components for the production of silicon carbide-based semiconductors. These are used primarily in electric vehicles due to their higher efficiency and performance. In the first half of 2024, global demand for electric vehicles slowed compared to the growth in previous quarters, and a return to the previous year's growth rates is not expected in the coming months. In addition, there are high inventory levels in the semiconductor value chain, which are also impacting demand for our products. Even if we assume that the market for high-performance semiconductors for electric vehicles will continue to grow significantly in the future, we expect demand for our specialty graphite components for the production of SiC-based semiconductors to slow down in the second half of 2024. For Graphite Solutions, however, we continue to expect sales and adjusted EBITDA to be above the previous year."

On the other hand, other market segments are developing better than expected and can thus compensate for fluctuations in demand within the SGL Carbon Group. Taking into account the business unit developments in the first half of 2024 and the expected trends for their key sales markets, the Company expects to meet its forecast for sales and adjusted EBITDA in fiscal year 2024 at the lower end of the announced range.

Source:

SGL Carbon SE

31.07.2024

adidas: Developments of second quarter 2024

Major developments:

Major developments:

  • Currency-neutral sales up 11%, driven by adidas brand accelerating to 16% growth
  • adidas brand up double digits across all channels with increases in all markets
  • Underlying gross margin improves around 1.5 percentage points to 50.5% despite significant currency headwinds
  • Operating profit of € 346 million compared to € 176 million in prior-year period
  • Healthy inventories at a level of € 4.5 billion to support future top-line growth
  • Full-year guidance upgraded on July 16 to reflect current brand momentum

Full-year outlook
High-single-digit revenue increase expected in 2024

On July 16, adidas raised its top- and bottom-line guidance as a result of the better-than-expected performance during the second quarter and taking into account the current brand momentum. adidas now expects currency-neutral revenues to increase at a high-single-digit rate in 2024 (previously: to increase at a mid- to high-single-digit rate). The company’s operating profit is now expected to reach a level of around € 1.0 billion (previously: to reach a level of around € 700 million). Within this guidance, adidas assumes the sale of the remaining Yeezy inventory during the remainder of the year to occur on average at cost. This would result in additional revenues of around € 150 million and no further profit contribution during the second half of 2024.

Outlook impacted by significant currency headwinds
The company continues to expect unfavorable currency effects to weigh significantly on its profitability this year. These effects are negatively impacting both reported revenues and the gross margin development in 2024. This was particularly the case during the first half of the year.

 

Source:

adidas AG

22.07.2024

Rieter: Growth in Order Intake in the First Half of 2024

  • Order intake of CHF 403.4 million in the first half of 2024, up 24% on the previous year period
  • Sales of CHF 421.0 million 44% below first half of 2023
  • Order backlog of around CHF 640 million at June 30, 2024
  • EBIT of CHF 8.9 million and net result of CHF 1.7 million
  • Significant cost reductions as a result of the “Next Level” performance program
  • Outlook for the full year 2024 specified

In the first half of 2024, the Rieter Group posted an order intake of CHF 403.4 million (first half of 2023: CHF 325.0 million), which represents a significant increase of 24% compared with the same period of the previous year. Sales were CHF 421.0 million (first half of 2023: CHF 758.2 million). As expected, this was 44% lower than the previous year.

  • Order intake of CHF 403.4 million in the first half of 2024, up 24% on the previous year period
  • Sales of CHF 421.0 million 44% below first half of 2023
  • Order backlog of around CHF 640 million at June 30, 2024
  • EBIT of CHF 8.9 million and net result of CHF 1.7 million
  • Significant cost reductions as a result of the “Next Level” performance program
  • Outlook for the full year 2024 specified

In the first half of 2024, the Rieter Group posted an order intake of CHF 403.4 million (first half of 2023: CHF 325.0 million), which represents a significant increase of 24% compared with the same period of the previous year. Sales were CHF 421.0 million (first half of 2023: CHF 758.2 million). As expected, this was 44% lower than the previous year.

In a challenging business environment, Rieter achieved an EBIT margin of 2.1% thanks to strict cost management. The systematic implementation of the “Next Level” performance program led to a strengthening of profitability. Rieter recorded a profit at the EBIT level of CHF 8.9 million in the first half of 2024 (first half of 2023: CHF 25.2 million). The reduction of the cost base particularly in research and development as well as selling and administrative expenses contributed to this positive result.

Outlook for the full year 2024 specified
The markets remained under pressure from the economic slowdown, high inflation rates and noticeably dampened consumer sentiment. The first signs of a recovery in financial year 2024 have emerged in the key markets of China and India. Rieter expects demand to pick up further in the coming months.

For the full year 2024, Rieter anticipates sales in the range of CHF 900 million to CHF 1 billion and a positive EBIT margin of 2% to 4%.

More information:
Rieter financial year 2024
Source:

Rieter AG

Successful closing of drupa 2024 (c) Messe Düsseldorf / ctillmann
10.06.2024

Successful closing of drupa 2024

drupa 2024 in Düsseldorf drew to a successful close on 7 June after eleven days. 1,643 exhibitors from 52 nations presented a showcase of innovations in the Düsseldorf exhibition halls and thrilled the trade visitors with performances. The international share of the visitors was 80%, with attendees coming from 174 countries. After Europe, Asia was the most strongly represented region with 22%, followed by America with 12%.  Asia as well as Latin America and the MENA region are markets with great growth potential, which was reflected in the significant increase in exhibitors' presence and order books.

Exhibitors praised the high level of decision-making competence of visitors. They, in turn, gave top marks to the range of products and services on offer in the 18 exhibition halls. Around 96% of all visitors confirmed that they had fully achieved the objectives associated with their visit. At over 50%, most of them came from the printing industry, followed by the packaging industry, whose share has increased significantly and which was the focus of many exhibitors as a growth driver. In total, 170,000 trade visitors attended drupa 2024.

drupa 2024 in Düsseldorf drew to a successful close on 7 June after eleven days. 1,643 exhibitors from 52 nations presented a showcase of innovations in the Düsseldorf exhibition halls and thrilled the trade visitors with performances. The international share of the visitors was 80%, with attendees coming from 174 countries. After Europe, Asia was the most strongly represented region with 22%, followed by America with 12%.  Asia as well as Latin America and the MENA region are markets with great growth potential, which was reflected in the significant increase in exhibitors' presence and order books.

Exhibitors praised the high level of decision-making competence of visitors. They, in turn, gave top marks to the range of products and services on offer in the 18 exhibition halls. Around 96% of all visitors confirmed that they had fully achieved the objectives associated with their visit. At over 50%, most of them came from the printing industry, followed by the packaging industry, whose share has increased significantly and which was the focus of many exhibitors as a growth driver. In total, 170,000 trade visitors attended drupa 2024.

Digitalisation
Automation took centre stage at this year’s drupa, with a strong focus on AI and smart workflows, including software solutions. It became clear that digital and analogue technologies ideally complement and benefit from each other. Traditional industry leaders presented a wide range of digital solutions, while digital pioneers integrated conventional components into their offerings. Robotics played an important role in the exhibition halls and illustrated the path towards the smart factory.

Transformation and growth
drupa made it clear that the industry has great potential for the future, even against the backdrop of many challenges, and that the prospects are promising. In the last financial year, the global printing industry achieved a turnover of around EUR 840 billion (source: Smithers) and continues to develop at varying pace worldwide.
Many new strategic alliances concluded at the trade fair reflected the opportunities that are only possible in such a concentrated form at drupa.

Sustainable technologies
Technology is the key to achieving sustainability goals - exhibitors at drupa illustrated this with numerous practice-orientated developments and concrete solutions. Top priority is given to resource efficiency and the path to a functioning circular economy. In addition, Touchpoint Sustainability from the VDMA, the German Machinery and Equipment Manufacturers’ Association, showcased current state of the art innovations, presented best-practice use cases and gave a far-reaching outlook into the future of a sustainable printing industry.

Knowledge transfer
The supporting programme with its five special forums drupa cube, drupa next age (dna) and the Touchpoints Packaging, Textile and Sustainability was well received. In times of constant change and the resulting new business models, they ensured an intensive transfer of knowledge and provided important guidance. Guided tours on various key topics rounded off the trade fair experience.

The next drupa will be held in 2028.

Source:

Messe Düsseldorf GmbH

31.05.2024

Stratasys: First Quarter 2024 Financial Results

Stratasys Ltd., a company in polymer 3D printing solutions, announced their financial results for the first quarter 2024.

First Quarter 2024 Financial Results Compared to First Quarter 2023:

Stratasys Ltd., a company in polymer 3D printing solutions, announced their financial results for the first quarter 2024.

First Quarter 2024 Financial Results Compared to First Quarter 2023:

  • Revenue of $144.1 million compared to $149.4 million.
  • GAAP gross margin of 44.4%, compared to 43.8%.
  • Non-GAAP gross margin of 48.6%, compared to 47.3%.
  • GAAP operating loss of $24.5 million, compared to an operating loss of $16.8 million.
  • Non-GAAP operating loss of $1.2 million, compared to non-GAAP operating income of $1.5 million.
  • GAAP net loss of $26.0 million, or $0.37 per diluted share, compared to a net loss of $22.2 million, or $0.33 per diluted share.
  • Non-GAAP net loss of $1.7 million, or $0.02 per diluted share, compared to non-GAAP net income of $1.1 million, or $0.02 per diluted share.
  • Adjusted EBITDA of $4.1 million, compared to $7.0 million.
  • Cash generated by operating activities of $7.3 million, compared to cash used by operating activities of $17.9 million in the year-ago quarter.

2024 Financial Outlook:
Based on current market conditions and assuming that the impacts of global inflationary pressures, relatively high interest rates and supply chain costs do not impede economic activity further, the Company is reiterating its outlook for 2024 as follows:

  • Full-year revenue of $630 million to $645 million.
  • Compare to 2023 revenue of approximately $616 million excluding divestments and annualizing Covestro.
  • Full-year non-GAAP gross margins of 49.0% to 49.5%, improving sequentially throughout the year.
  • Full-year operating expenses in the range of $292 million to $297 million.
  • Full-year non-GAAP operating margins in a range of 2.5% to 3.5%.
  • GAAP net loss of $88 million to $72 million, or ($1.24) to ($1.01) per diluted share.
  • Includes one-time extraordinary costs associated with Stratasys’ strategic alternatives process.
  • Non-GAAP net income of $9 million to $14 million, or $0.12 to $0.19 per diluted share.
  • Adjusted EBITDA of $40 million to $45 million.
  • Capital expenditures of $20 million to $25 million.
  • Positive cash flow from operating activities.

Non-GAAP earnings guidance excludes $29 million to $31 million of share-based compensation expense, $26 million to $28 million of projected amortization of intangible assets, and reorganization and other expenses of $29 million to $35 million. Non-GAAP guidance includes tax adjustments of $2 million to $3 million on the above non-GAAP items.

Source:

Stratasys Ltd.

08.05.2024

SGL Carbon: Report on first quarter of 2024

  • Continued growth in the semiconductor business
  • Weak demand for carbon fibers further impacts Group sales and profitability
  • Group sales down slightly at €272.6 million (-3.9%), adjusted EBITDA up 5.0% to €42.1 million
  • Adjusted EBITDA margin at 15.4% after 14.1% in the same quarter of the previous year
  • Outlook for 2024 confirmed

SGL Carbon had a solid start to the first quarter of 2024. Despite the slight decline in sales of 3.9% to €272.6 million (Q1 2023: €283.7 million), adjusted EBITDA improved by 5.0% to € 42.1 million (Q1 2023: € 40.1 million). Weak demand in the Carbon Fibers business unit in particular have a negative impact on the Group's sales and earnings performance. By contrast, slightly higher sales and, especially, the increase in adjusted EBITDA in the Graphite Solutions and Process Technology business units had a positive effect on the Group's performance.

  • Continued growth in the semiconductor business
  • Weak demand for carbon fibers further impacts Group sales and profitability
  • Group sales down slightly at €272.6 million (-3.9%), adjusted EBITDA up 5.0% to €42.1 million
  • Adjusted EBITDA margin at 15.4% after 14.1% in the same quarter of the previous year
  • Outlook for 2024 confirmed

SGL Carbon had a solid start to the first quarter of 2024. Despite the slight decline in sales of 3.9% to €272.6 million (Q1 2023: €283.7 million), adjusted EBITDA improved by 5.0% to € 42.1 million (Q1 2023: € 40.1 million). Weak demand in the Carbon Fibers business unit in particular have a negative impact on the Group's sales and earnings performance. By contrast, slightly higher sales and, especially, the increase in adjusted EBITDA in the Graphite Solutions and Process Technology business units had a positive effect on the Group's performance.

Outlook
In line with the course of business in the first three months of 2024, the company confirms its sales and earnings outlook for the 2024 financial year. Consolidated sales for the 2024 financial year are expected to be at the previous year's level and adjusted EBITDA between €160 million and €170 million.

Source:

SGL CARBON SE

03.05.2024

adidas: Results for first quarter of 2024

Major developments:

Major developments:

  • Currency-neutral sales up 8% driven by growth in all regions except North America
  • Double-digit DTC growth reflects strong adidas sell-through
  • Gross margin improves 6.4pp to 51.2%, reflecting healthier inventory levels, reduced discounting, lower sourcing costs and a more favorable business mix
  • Operating profit of € 336 million compared to € 60 million in the prior-year period
  • Inventories down more than € 1.2 billion versus the prior year to € 4.4 billion
  • Top- and bottom-line guidance upgraded on April 16 due to successful start to the year

Full-year outlook
adidas expects revenues to increase at a mid- to high-single-digit rate in 2024

On April 16, adidas upgraded its full-year financial guidance as a result of the better-than-expected performance in the first quarter. adidas now expects currency-neutral revenues to increase at a mid- to high-single-digit rate in 2024 (previously: increase at a mid-single-digit rate). Within this guidance, it is assumed that the remaining Yeezy inventory will be sold on average at cost, resulting in sales of around € 200 million throughout the remainder of the year. This corresponds to a projected total amount of Yeezy-related sales of around € 350 million in FY 2024 (previously: around € 250 million), of which around € 150 million were generated in the first quarter. For its underlying business, adidas remains focused on scaling its successful franchises, introducing new ones, and leveraging its significantly better, broader, and deeper product range. Improved retailer relationships, more impactful marketing initiatives, and the company’s activities around major sports events are also expected to contribute to sales increases throughout 2024.

Outlook impacted by significant currency headwinds
Unfavorable currency effects are projected to weigh significantly on the company’s profitability in 2024. They are expected to continue to adversely impact both reported revenues and the gross margin development in the remainder of the year.

Operating profit of around € 700 million projected
Following the better-than-expected performance in the first quarter, the company also increased its full-year profit guidance on April 16. The company’s operating profit is now expected to reach a level of around € 700 million (previously: to reach a level of around € 500 million). The improved bottom-line guidance includes a contribution of around € 50 million from Yeezy (previously: no Yeezy contribution) related to the drop in Q1. The sale of the remaining Yeezy inventory is assumed to result in no further profit contribution during the remainder of the year.

 

 

Source:

adidas AG

13.03.2024

Rieter: Successful financial year 2023

  • Sales of CHF 1 418.6 million in the 2023 financial year
  • Order intake of CHF 541.8 million in the 2023 financial year; order backlog of around CHF 650 million as of December 31, 2023
  • EBIT margin of 7.2%
  • “Next Level” performance program on track
  • Proposed dividend of CHF 3.00 per share
  • Outlook 2024 with sales of around CHF 1 billion

The Rieter Group closed the 2023 financial year with slightly lower sales of CHF 1 418.6 million (2022: CHF 1 510.9 million), down 6% on the previous year. In line with expectations, the order intake of CHF 541.8 million was considerably below the prior year period (2022: CHF 1 157.3 million). In a challenging business environment, Rieter generated an EBIT margin of 7.2%. Implementation of the “Next Level” performance program to increase profitability is proceeding according to plan.

  • Sales of CHF 1 418.6 million in the 2023 financial year
  • Order intake of CHF 541.8 million in the 2023 financial year; order backlog of around CHF 650 million as of December 31, 2023
  • EBIT margin of 7.2%
  • “Next Level” performance program on track
  • Proposed dividend of CHF 3.00 per share
  • Outlook 2024 with sales of around CHF 1 billion

The Rieter Group closed the 2023 financial year with slightly lower sales of CHF 1 418.6 million (2022: CHF 1 510.9 million), down 6% on the previous year. In line with expectations, the order intake of CHF 541.8 million was considerably below the prior year period (2022: CHF 1 157.3 million). In a challenging business environment, Rieter generated an EBIT margin of 7.2%. Implementation of the “Next Level” performance program to increase profitability is proceeding according to plan.

Outlook 2024
Markets remain under pressure from the economic slowdown, high inflation rates and noticeably dampened consumer sentiment. Customers are reluctant to place orders due to financing challenges. The first signs of a recovery in the 2024 financial year have emerged in the key markets of China and India. Rieter expects demand to increase in the coming months.
For the full year 2024, Rieter anticipates sales in the region of CHF 1 billion and a positive EBIT margin of up to 4%.

Source:

Rieter Management AG

26.02.2024

AkzoNobel: Full-year 2023 results

Highlights Q4 2023 (compared with Q4 2022)

  • Revenue in constant currencies up 4% on higher volumes and pricing (reported revenue -3%)
  • Operating income improved to €214 million (2022: €103 million)
  • Adjusted operating income at €221 million (2022: €126 million); ROS at 8.7% (2022: 4.8%); €244 million before €23 million negative impact from hyperinflation accounting
  • Net cash from operating activities positive €574 million (2022: €291 million)

Highlights full-year 2023 (compared with full-year 2022)

Highlights Q4 2023 (compared with Q4 2022)

  • Revenue in constant currencies up 4% on higher volumes and pricing (reported revenue -3%)
  • Operating income improved to €214 million (2022: €103 million)
  • Adjusted operating income at €221 million (2022: €126 million); ROS at 8.7% (2022: 4.8%); €244 million before €23 million negative impact from hyperinflation accounting
  • Net cash from operating activities positive €574 million (2022: €291 million)

Highlights full-year 2023 (compared with full-year 2022)

  • Revenue in constant currencies up 5% driven by pricing (reported revenue -2%)
  • Operating income improved to €1,029 million (2022: €708 million)
  • Adjusted operating income at €1,074 million (2022: €789 million), despite €77 million adverse
  • currency effects from translation; ROS at 10.1% (2022: 7.3%)
  • Adjusted EBITDA at €1,429 million (2022: €1,157 million), despite €92 million adverse currency
  • effects from translation
  • Net cash from operating activities positive €1,126 million (2022: €263 million)
  • Net debt to EBITDA leverage ratio improved to 2.7 (2022: 3.8)
  • Final dividend proposed of €1.54 per share (2022: €1.54)

Outlook mid-term
For the mid-term, AkzoNobel aims to expand profitability to deliver an adjusted EBITDA margin of above 16% and a return on investment between 16% and 19%, underpinned by organic growth and industrial excellence. The company aims to lower its leverage to around 2 times in the mid-term, while remaining committed to retaining a strong investment grade credit rating.

More information:
AkzoNobel financial year 2023
Source:

AkzoNobel

19.02.2024

Lectra: Financial statements for 2023

  • Revenues: 477.6 million euros (-6%)
  • EBITDA before non-recurring items: 79.0 million euros (-15%)
  • Net income: 32.6 million euros (-26%)
  • Free cash flow before non-recurring items: 45.3 million euros
  • Dividend: €0.36 per share

Lectra’s Board of Directors, chaired by Daniel Harari, reviewed the consolidated financial statements for the fiscal year 2023. Audit procedures have been performed by the Statutory Auditors.

Currency changes between 2022 and 2023 mechanically decreased revenues and EBITDA before non-recurring items by 3.9 million euros (-3%) and 1.7 million euros (-8%) respectively in Q4, and by 11.2 million euros (-2%) and 4.8 million euros (-6%) respectively in the year, at actual exchange rates compared to like-for-like figures.

  • Revenues: 477.6 million euros (-6%)
  • EBITDA before non-recurring items: 79.0 million euros (-15%)
  • Net income: 32.6 million euros (-26%)
  • Free cash flow before non-recurring items: 45.3 million euros
  • Dividend: €0.36 per share

Lectra’s Board of Directors, chaired by Daniel Harari, reviewed the consolidated financial statements for the fiscal year 2023. Audit procedures have been performed by the Statutory Auditors.

Currency changes between 2022 and 2023 mechanically decreased revenues and EBITDA before non-recurring items by 3.9 million euros (-3%) and 1.7 million euros (-8%) respectively in Q4, and by 11.2 million euros (-2%) and 4.8 million euros (-6%) respectively in the year, at actual exchange rates compared to like-for-like figures.

OUTLOOK
While the 2023 full-year results were affected by the adverse environment, they also attest to the substantial improvement in the fundamentals of the Group's business model, which will have a positive impact on 2024 results. Persistent macroeconomic and geopolitical uncertainties could nevertheless continue to weigh on investment decisions by the Group's customers.

While the most recent indicators seem to suggest that the situation is unlikely to deteriorate further, the timing and magnitude of a rebound in new system orders remain uncertain.

Outlook for 2024
To facilitate analysis, the accounts of Lectra excluding the Launchmetrics acquisition ("Lectra 2023 Scope") will be analysed separately from the Launchmetrics accounts in 2024.

The Group has based its 2024 objectives on the exchange rates in effect on December 29, 2023, in particular $1.10/€1. When converting 2023 results using the exchange rates retained for 2024, 2023 revenues are mechanically reduced by 4.7 million euros (to 472.9 million euros) and 2023 EBITDA before non-recurring items is reduced by 2.2 million euros (to 76.8 million euros). Thus, for the Lectra 2023 Scope, the comparisons between 2024 and 2023 printed below are based on constant exchange rates.

At this early stage of 2024, continuing low visibility regarding orders and revenues from new systems makes it impossible to predict the actual timing and scale of the future rebound in this area. On the other hand, visibility is high for recurring revenues, which accounted for 68% of total revenues in 2023 and will continue to grow in 2024.

In light of the above, Lectra has set as its objective for 2024, for the Lectra 2023 Scope, to achieve revenues in the range of 480 to 530 million euros (+2% to +12%) and EBITDA before non-recurring items in the range of 85 to 107 million euros (+10% to +40%).

The low end of the revenues range is based on the absence of a rebound in new systems orders, which would remain stable in 2024 relative to 2023, with a 6% decline in revenues from perpetual software licenses, equipment and accompanying software and non-recurring services, as the order backlog was lower on December 31, 2023 than a year before.

The high end of the revenues range reflects a gradual rebound in new systems orders, which at year-end 2024 would be back to year-end 2022 level.
 
In addition, Launchmetrics revenues (for the consolidation period from January 23 to December 31) are projected to be in the range of 42 to 46 million euros, with an EBITDA margin before non-recurring items of more than 15% (assuming an exchange rate of $1.10/€1).

24.01.2024

Rieter: First information on the financial year 2023

  • Sales of CHF 1 418.6 million in the financial year 2023
  • Order intake of CHF 541.8 million in the financial year 2023; order backlog of around CHF 650 million as of December 31, 2023
  • EBIT margin of around 7% expected for the full year 2023 at the upper end of the guidance
  • Market remains challenging

The Rieter Group closed the financial year 2023 with slightly lower sales than in the previous year. According to the first, unaudited figures, total sales of CHF 1 418.6 million were achieved, which is around 6% down on the previous year (2022: CHF 1 510.9 million). In line with expectations, the order intake of CHF 541.8 million was considerably below the previous year (2022: CHF 1 157.3 million). Rieter expects a positive EBIT margin of around 7% for the full year 2023 (2022: 2.1%).

  • Sales of CHF 1 418.6 million in the financial year 2023
  • Order intake of CHF 541.8 million in the financial year 2023; order backlog of around CHF 650 million as of December 31, 2023
  • EBIT margin of around 7% expected for the full year 2023 at the upper end of the guidance
  • Market remains challenging

The Rieter Group closed the financial year 2023 with slightly lower sales than in the previous year. According to the first, unaudited figures, total sales of CHF 1 418.6 million were achieved, which is around 6% down on the previous year (2022: CHF 1 510.9 million). In line with expectations, the order intake of CHF 541.8 million was considerably below the previous year (2022: CHF 1 157.3 million). Rieter expects a positive EBIT margin of around 7% for the full year 2023 (2022: 2.1%).

Outlook
Rieter is operating in a challenging market environment due to the economic and geopolitical conditions as well as the continuing weak demand. There are initial signs of a market recovery visible for the financial year 2024. Rieter will present an outlook for the financial year 2024 at the annual results press conference on March 13, 2024.

Source:

Rieter Holding AG

North American Nonwovens Industry Outlook 2022-2027 (c) INDA
07.11.2023

North American Nonwovens Industry Outlook 2022-2027 released

INDA, the Association of the Nonwoven Fabrics Industry, has released a new report, North American Nonwovens Industry Outlook, 2022-2027. This report is the twelfth edition detailing demand data for 2017 through 2022, with forecasts to 2027 and provides analysis across end-use markets through 2027.

It includes:

INDA, the Association of the Nonwoven Fabrics Industry, has released a new report, North American Nonwovens Industry Outlook, 2022-2027. This report is the twelfth edition detailing demand data for 2017 through 2022, with forecasts to 2027 and provides analysis across end-use markets through 2027.

It includes:

  • Economic and population drivers contributing to market growth over the next 5 years for markets in the U.S., Mexico, and Canada.
  • Disposable, Filtration, Wipes, Medical and Other applications.
  • Long-Life durable sectors for Transportation, Building and Construction, Furnishings, Geo and Agro Textiles, and Apparel.
  • Key drivers for the demand models and reasons for market upsets like the COVID pandemic.
  • A summary of historical and future trends that will affect the nonwovens market.

The report provides analysis across all nonwoven end-use markets, providing a comprehensive and accurate view of the total North American nonwovens industry. INDA redesigned this report to support strategic business planning and decision-making. The projections in the report were made by analyzing current market trends and drivers to highlight the market potential in terms of dollar value, units, and volume in both square meters and tonnage.

The new North American Nonwovens Industry Outlook report is available at 6,000.00 $, the discounted member price is 4,500.00

More information:
Market report INDA
Source:

Association of the Nonwoven Fabrics Industry

27.10.2023

ACIMIT: Italian machinery manufacturers at ITMA ASIA+CITME

A total of 59 Italian machinery manufacturers will be exhibiting at the upcoming ITMA ASIA+CITME, to be held from November 19 to 23 in Shanghai, as the event had been postponed for a year in the wake of the Covid-19 pandemic. Of these 59 manufacturers, 26 will be presenting technological innovations as part of the National Sector Groups, organized by ACIMIT and ITA – Italian Trade Agency. Occupying a surface area of around 2,000 square meters, Italy is among the major foreign exhibiting Countries at the event.

Asia is a major destination for Italy’s textile machinery manufacturers, with fully 38% of all Italian textile machinery exports during the first half of 2023 (amounting to roughly 338 million euros) directed towards Asian markets. China, in particular, is an absolutely important market for Italian companies: the first in Asia and the second worldwide behind Turkey in 2022. In the first six months of this year, Italian machinery sold in China reached a value of 81 million Euro.

A total of 59 Italian machinery manufacturers will be exhibiting at the upcoming ITMA ASIA+CITME, to be held from November 19 to 23 in Shanghai, as the event had been postponed for a year in the wake of the Covid-19 pandemic. Of these 59 manufacturers, 26 will be presenting technological innovations as part of the National Sector Groups, organized by ACIMIT and ITA – Italian Trade Agency. Occupying a surface area of around 2,000 square meters, Italy is among the major foreign exhibiting Countries at the event.

Asia is a major destination for Italy’s textile machinery manufacturers, with fully 38% of all Italian textile machinery exports during the first half of 2023 (amounting to roughly 338 million euros) directed towards Asian markets. China, in particular, is an absolutely important market for Italian companies: the first in Asia and the second worldwide behind Turkey in 2022. In the first six months of this year, Italian machinery sold in China reached a value of 81 million Euro.

“The general outlook for the Chinese market remains positive, although the demand for foreign machinery from local textile manufacturers has slowed somewhat for this first half of the year,” comments ACIMIT president Marco Salvadè. “Investments in the textile industry have never stopped, so there is no shortage of opportunities in China. I believe ITMA ASIA + CITME will confirm our expectations for a recovery in demand.”

Source:

ACIMIT

20.10.2023

Rieter: Further job cuts, outlook for 2023 confirmed

Rieter’s cumulative sales in the first nine months of 2023 amounted to CHF 1 092.9 million (2022: CHF 987.4 million), an increase of 11% compared to the prior-year period. In particular, supply bottlenecks eased slightly, which allowed more machines to be delivered than in the same period last year. Sales in the third quarter of 2023
were CHF 334.7 million (Q3 2022: CHF 366.8 million).

The Business Group Machines & Systems generated total sales of CHF 749.6 million in the first nine months of 2023 (+18%). The Business Group Components posted sales of CHF 206.8 million, 11% lower than in the corresponding period of the previous year, while the Business Group After Sales recorded growth of 13% to CHF 136.5 million in the first nine months of 2023.

Order intake in the reporting period was characterized by restrained investment in new machinery in almost all regions except China. Demand for consumables, wear & tear and spare parts continued to weaken due to the slowdown in spinning mill capacity utilization. Rising interest rates and high energy and raw material prices also had a dampening effect.

Rieter’s cumulative sales in the first nine months of 2023 amounted to CHF 1 092.9 million (2022: CHF 987.4 million), an increase of 11% compared to the prior-year period. In particular, supply bottlenecks eased slightly, which allowed more machines to be delivered than in the same period last year. Sales in the third quarter of 2023
were CHF 334.7 million (Q3 2022: CHF 366.8 million).

The Business Group Machines & Systems generated total sales of CHF 749.6 million in the first nine months of 2023 (+18%). The Business Group Components posted sales of CHF 206.8 million, 11% lower than in the corresponding period of the previous year, while the Business Group After Sales recorded growth of 13% to CHF 136.5 million in the first nine months of 2023.

Order intake in the reporting period was characterized by restrained investment in new machinery in almost all regions except China. Demand for consumables, wear & tear and spare parts continued to weaken due to the slowdown in spinning mill capacity utilization. Rising interest rates and high energy and raw material prices also had a dampening effect.

In this market environment, the Rieter Group received orders totaling CHF 452.2 million in the first nine months of 2023 (2022: CHF 1 095.8 million). In the third quarter of 2023, orders decreased by 44% year-on-year to CHF 127.2 million (2022: CHF 226.4 million).

Rieter expects the market to have bottomed out in the year 2023 and anticipates a gradual market recovery in the course of the 2024 financial year.

As of September 30, 2023, Rieter has an order backlog of around CHF 900 million (September 30, 2022: CHF 2 000 million). The current order backlog will allow good capacity utilization at the production facilities into the coming year. The cancellation rate in the reporting period was within the usual range, averaging around 5% of the order backlog, with a slight downward trend.

In July 2023, the Group launched the “Next Level” performance program aimed at strengthening sales excellence, sharpening customer focus, improving cost efficiency in production and optimizing fixed cost structures. By taking these measures, Rieter intends to create the basis for providing an even more agile response to the cyclical nature of the machinery business. The objective of the planned initiatives is to ensure the profitable and sustainable development of the group.

The performance program includes provisions for the net reduction of approximately 300 positions in overhead functions across the group, primarily in Germany and Switzerland. The consultation processes initiated with the employee representatives in Ingolstadt (Germany) and Winterthur (Switzerland) were completed in the third quarter of 2023. The majority of these workforce reductions are expected to be implemented by the end of December 2023.

Due to the current market situation, further market- and volume-related adjustments in the range of 400 to 600 positions will be necessary, mainly in production. However, the actual number of positions to be reduced depends on the order intake in the coming months.

Rieter continues to expect that the strategic and operational measures initiated will result in one-off restructuring costs of around CHF 45 to 50 million, which will impact earnings in the 2023 financial year.

Outlook for the full year 2023 confirmed
As announced on July 20, 2023, in view of the economic situation and the ongoing cyclical market weakness, Rieter continues to expect below-average demand for new equipment in the coming months. A revival is not anticipated until the end of 2023 at the earliest. Likewise, Rieter believes that demand for consumables, wear & tear and spare parts will not recover until towards the end of 2023.

For the full year 2023, Rieter expects an EBIT margin of around 5 to 7% (including positive special effects of less than 2%) and sales at the previous year’s level of around CHF 1.5 billion.

Source:

Rieter Holding AG

One-third increase in exhibitors at Cinte Techtextil China 2023 (c) Messe Frankfurt (HK) Ltd
04.10.2023

One-third increase in exhibitors at Cinte Techtextil China 2023

Since the rapid growth brought about by the pandemic, the technical textiles and nonwovens markets are stabilising towards a new normal – one in which technological innovation, sustainable development, and intelligent manufacturing are the most sought-after qualities. Held from 19 – 21 September 2023 at the Shanghai New International Expo Centre, the fair amplified this new industry direction, both through its fringe programme and across the booths of the 40,000 sqm show floor. With a nearly one-third increase from 2021, 467 exhibitors representing 13 countries and regions engaged a significantly international visitor flow, numbering 15,542 total visits from 52 countries and regions. Suppliers showcased up-to-date products for multiple application areas, with various equipment, technical textiles and nonwovens for agriculture, automotive, protective apparel, and medical and hygiene especially prevalent.

Since the rapid growth brought about by the pandemic, the technical textiles and nonwovens markets are stabilising towards a new normal – one in which technological innovation, sustainable development, and intelligent manufacturing are the most sought-after qualities. Held from 19 – 21 September 2023 at the Shanghai New International Expo Centre, the fair amplified this new industry direction, both through its fringe programme and across the booths of the 40,000 sqm show floor. With a nearly one-third increase from 2021, 467 exhibitors representing 13 countries and regions engaged a significantly international visitor flow, numbering 15,542 total visits from 52 countries and regions. Suppliers showcased up-to-date products for multiple application areas, with various equipment, technical textiles and nonwovens for agriculture, automotive, protective apparel, and medical and hygiene especially prevalent.

Speaking at the fair’s close, Ms Wilmet Shea, General Manager of Messe Frankfurt (HK) Ltd, had an optimistic outlook for the future of the sector: “Sustainability and innovation often go hand-in-hand, and walking through the various halls, zones, and pavilions these past few days the evidence for this was widespread. With environmental protection more important than ever, and buyers across application areas increasingly sourcing eco-friendly solutions, our exhibitors were well-placed to meet that demand. This fair is consistently at the leading edge of technological progress, and with the global and domestic markets showing signs of improving further, we are already looking forward to what we can offer at next year’s edition.”  

With many overseas exhibitors making a comeback, this year’s fair was marked by the return of the Taiwan Pavilion and the 40-exhibitor strong European Zone. Beyond the international areas, domestic pavilions were organised by Beijing Guanghua, China Hang Tang Group, Funing, Jiujing, Shenda, Tiantai, Xianto, and Xiqiao, showcasing nonwovens for various sub-sectors, including filtration and medical. Valuable insights were exchanged at multiple fringe events, including the 11th China International Nonwovens Conference, the Advanced Technical Textiles Industry Chain Synergistic Innovation Development Forum, various events covering marine textiles and rope netting, and the “Kingsafe Dangs” National University Students' Nonwovens Development and Applications Showcase. Visitors, meanwhile, were pleased with the innovation on show across the entire platform.

The fair’s product categories cover 12 application areas, which comprehensively span a full range of potential uses in modern technical textiles and nonwovens. These categories also cover the entire industry, from upstream technology and raw materials providers to finished fabrics, chemicals and other solutions. This scope of product groups and application areas ensures that the fair is an effective business platform for the entire industry.

22.09.2023

Lenzing with new outlook for 2023

The continued weak development of the markets relevant to Lenzing, coupled with very cautious market expectations in 2023, requires a reassessment of Lenzing AG’s macroeconomic environment.

Taking into account the current lack of market recovery, the previous earnings forecast is not expected to be achieved. The Lenzing Group is therefore adjusting its forecast for earnings development and is assuming EBITDA in a range of EUR 270 mn to EUR 330 mn for the 2023 financial year.

CEO Stephan Sielaff: “The recovery expected for the second half of the year in the markets relevant to us has not yet occurred. This makes the early measures we took all the more correct. We launched an ambitious cost reduction program back in November 2022, which delivered the expected results ahead of schedule. Building on this, we are implementing a holistic and consistent value creation program with a focus on measures to strengthen profitability and cash flow generation and to exploit the growth potential in the fiber markets through targeted sales activities.”

The continued weak development of the markets relevant to Lenzing, coupled with very cautious market expectations in 2023, requires a reassessment of Lenzing AG’s macroeconomic environment.

Taking into account the current lack of market recovery, the previous earnings forecast is not expected to be achieved. The Lenzing Group is therefore adjusting its forecast for earnings development and is assuming EBITDA in a range of EUR 270 mn to EUR 330 mn for the 2023 financial year.

CEO Stephan Sielaff: “The recovery expected for the second half of the year in the markets relevant to us has not yet occurred. This makes the early measures we took all the more correct. We launched an ambitious cost reduction program back in November 2022, which delivered the expected results ahead of schedule. Building on this, we are implementing a holistic and consistent value creation program with a focus on measures to strengthen profitability and cash flow generation and to exploit the growth potential in the fiber markets through targeted sales activities.”

The Lenzing Group will announce further details about the value creation program when it publishes its quarterly results on November 3, 2023.

Source:

Lenzing Group

30.08.2023

Autoneum: Half-Year Results 2023

Autoneum's consolidated revenue increased by 24.1% from CHF 888.7 million to CHF 1 102.6 million in the first half of 2023. The Group grew significantly both organically, thanks to a market recovery in Europe and North America, and inorganically, through the acquisition of the traditional German company Borgers. All business units improved their profitability compared to the prior-year period. EBIT adjusted for special effects increased by CHF 33.0 million to CHF 45.0 million and the EBIT margin rose from 1.4% to 4.1% compared to the prior-year period. EBIT rose by CHF 78.5 million to CHF 84.9 million in the same period, with an increase in EBIT margin of 7.0 percentage points to 7.7%. Autoneum achieved a solid net result of CHF 57.8 million. Business Group North America nearly reached break-even point before special effects. As planned, the Borgers units, consolidated for the first time in the second quarter, made a positive contribution to the overall result from day one.

Autoneum's consolidated revenue increased by 24.1% from CHF 888.7 million to CHF 1 102.6 million in the first half of 2023. The Group grew significantly both organically, thanks to a market recovery in Europe and North America, and inorganically, through the acquisition of the traditional German company Borgers. All business units improved their profitability compared to the prior-year period. EBIT adjusted for special effects increased by CHF 33.0 million to CHF 45.0 million and the EBIT margin rose from 1.4% to 4.1% compared to the prior-year period. EBIT rose by CHF 78.5 million to CHF 84.9 million in the same period, with an increase in EBIT margin of 7.0 percentage points to 7.7%. Autoneum achieved a solid net result of CHF 57.8 million. Business Group North America nearly reached break-even point before special effects. As planned, the Borgers units, consolidated for the first time in the second quarter, made a positive contribution to the overall result from day one.

Economic conditions in the automotive supply industry improved in the first half of 2023 compared to the prior-year period. There was a slight easing of supply chains and a rise in production volumes among vehicle manufacturers already in the first quarter of 2023. This was especially true in markets that had previously been heavily impacted by supply chain bottlenecks.

Global automobile production climbed by 11.8%* compared with the prior-year period, although consumer demand was somewhat dampened by high vehicle prices in some markets. In this improved market environment and supported by the acquisition of the automotive business from Borgers, a long-standing German company, as of April 1, 2023, Autoneum increased its revenue and net result substantially in the first six months compared with the same period of the previous year.

  • Positive revenue development supported by inorganic growth
  • Significant improvement of operational profitability and solid net profit
  • Equity ratio influenced by the acquisition of Borgers Automotive
  • Creation of a capital band
  • Business Groups
  • Integration of Borgers automotive business
  • Working on behalf of electromobility with sustainable noise absorption in underbody
  • shields
  • Change to the Group Executive Board
  • SBTi recognizes Autoneum’s science-based targets

Outlook unchanged
According to the current S&P market forecasts, it is expected that global automobile production will climb by 5.7%* in 2023 compared with 2022. Autoneum anticipates that production volumes in the various regions will develop in line with the forecasts. Customer negotiations are ongoing and Autoneum expects that the increase in costs for raw materials, energy, transportation and staff will be completely offset in the second half of the year. Based on the forecast market development and the renegotiated customer agreements, Autoneum confirms the outlook that it published in March 2023. The Company expects total revenue of CHF 2.4 to 2.5 billion at unchanged exchange rates for the financial year 2023, an EBIT margin of 3.5% to 4.5% excluding one-time effects and a free cash flow in the higher double-digit millions, excluding acquisition-related net cash outflows.

For more information, see attached document.

*Source: S&P market forecast – August 15, 2023

Source:

Autoneum Management AG

DyStar Systainability Report 2022/23 DyStar Singapore Pte Ltd
25.08.2023

DyStar Releases 2022 – 2023 Integrated Sustainability Report

DyStar, a leading specialty chemical company announced the release of its thirteenth annual Integrated Sustainability Report. The report is prepared in accordance with the updated GRI Standards 2021: Core Options. Despite the challenging business landscape and economic situations, DyStar remains committed to delivering tangible values that the Group has strategically created through the six major capitals, using the Integrated Reporting <IR> framework.

DyStar’s business strategies have proven their effectiveness and delivered significant progress toward its 2025 targets. The company has successfully reduced its environmental footprint in Greenhouse Gas Emission intensity and Wastewater production intensity by more than 30%, compared to the baseline year 2011.

More specifically, DyStar’s Scope 1 and Scope 2 Greenhouse Gas (GHG) Emissions intensity was 45% lower (tCO2e per ton production) than the baseline year 2011, with a totaled GHG emission of 56.91 thousand tCO2e. This is also 9% lower when compared to FY2021.

DyStar, a leading specialty chemical company announced the release of its thirteenth annual Integrated Sustainability Report. The report is prepared in accordance with the updated GRI Standards 2021: Core Options. Despite the challenging business landscape and economic situations, DyStar remains committed to delivering tangible values that the Group has strategically created through the six major capitals, using the Integrated Reporting <IR> framework.

DyStar’s business strategies have proven their effectiveness and delivered significant progress toward its 2025 targets. The company has successfully reduced its environmental footprint in Greenhouse Gas Emission intensity and Wastewater production intensity by more than 30%, compared to the baseline year 2011.

More specifically, DyStar’s Scope 1 and Scope 2 Greenhouse Gas (GHG) Emissions intensity was 45% lower (tCO2e per ton production) than the baseline year 2011, with a totaled GHG emission of 56.91 thousand tCO2e. This is also 9% lower when compared to FY2021.

Similarly, for Wastewater production intensity, DyStar achieved a 52% reduction compared to baseline year 2011, and a 24% reduction from FY2021.

Some other key highlights and value-adds include (when compared to FY2021):

  • Financial Capital: The results of production efficiency and streamlining manufacturing indirectly contributed to the reduction of 5.8% in operating cost
  • Manufactured Capital: Apart from ensuring quality suppliers through DyStar’s internal audit, DyStar’s effort on environmental performance and climate impacts with the Institute of Public & Environmental Affairs (IPE) was recognized and ranked second by industry on IPE’s Green Supply Chain Corporate Information Transparency Index (CITI)
  • Intellectual Capital: The innovative Cadira® modules continue to support the supply chain with a lower carbon footprint
  • Human Capital: The full launch of DyStar University (DSU), a proprietary LMS, supports the learning and development of employees globally
  • Social Capital: DyStar’s culturally diverse workforce organized a variety of activities and events in support of its global community and made a total contribution of USD 128,946 to various corporate social responsibility (“CSR”) program.

Despite the harsh economic headwinds, these figures further demonstrated the effectiveness of DyStar’s initiatives that were installed throughout the reporting year.

DyStar maintains a cautious yet optimistic outlook on its global performance.

More information:
DyStar Sustainability Report
Source:

DyStar Singapore Pte Ltd