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(c) Messe Frankfurt (HK) Ltd
08.02.2023

Cinte Techtextil China 2023 set for September

With China easing its pandemic restrictions, foreign exhibitors and buyers can look forward to quarantine-free travel when participating at this year’s industry showcase in Shanghai. The technical textile and nonwovens fair is scheduled to take place from 19 – 21 September 2023 at the Shanghai New International Expo Centre, amid positive market forecasts for both sectors. The organisers are anticipating a strong showing and the conclusion of an inconsistent period for in-person textile business.

“The industry has demonstrated incredible patience and resilience over the course of the pandemic,” said Ms Wilmet Shea, General Manager of Messe Frankfurt (HK) Ltd. “With both markets growing and China opening its borders, we are excited at the prospect of providing participants with an international, business-friendly platform and expect to welcome a healthy number of exhibitors later this year.”

With China easing its pandemic restrictions, foreign exhibitors and buyers can look forward to quarantine-free travel when participating at this year’s industry showcase in Shanghai. The technical textile and nonwovens fair is scheduled to take place from 19 – 21 September 2023 at the Shanghai New International Expo Centre, amid positive market forecasts for both sectors. The organisers are anticipating a strong showing and the conclusion of an inconsistent period for in-person textile business.

“The industry has demonstrated incredible patience and resilience over the course of the pandemic,” said Ms Wilmet Shea, General Manager of Messe Frankfurt (HK) Ltd. “With both markets growing and China opening its borders, we are excited at the prospect of providing participants with an international, business-friendly platform and expect to welcome a healthy number of exhibitors later this year.”

The global technical textile and nonwovens markets are both set to perform strongly over the next few years. According to Grand View Research, the technical textile market is forecast to expand at a CAGR of 4.7% from 2022 to 2030[1]. The nonwoven fabrics market is anticipated to display an even stronger CAGR of 5.6% during the same period[2], with Asia-Pacific to maintain its position as the biggest regional market.

As one of Asia’s leading trade fairs for the abovementioned sectors, Cinte Techtextil China is the preferred platform for multiple industry players. Speaking at the previous edition in 2021, Mr Seven Shen, Sales Manager at Libero Trading (Shanghai) Co Ltd, China, said: “We have been exhibiting at this fair for years, and know we will meet our target customers at every edition. The buyers here are all highly specialised.”

During his interview at the same edition, Mr Eric Ni, Senior Manager, China Supply Chain Marketing for Cotton Council International, USA, commented: “We hope to use this platform to meet more companies and brands in the nonwovens industry who are interested in US cotton, and to meet up with old friends to discuss the current situation and industry trends. The fair’s buyers are quality, and we have found some new potential clients at this edition.”

Many buyers at the previous edition also gave positive appraisals. “As a professional trade fair for technical textile and nonwoven products, Cinte Techtextil China is not only a platform to gather qualified industry players, but also the best place to showcase new products and innovations,” said Mr Lin Bin, Technical Director at Zhejiang Xinna Medical Device Technology Co Ltd, China. “Specific and high quality products enhance sourcing efficiency for buyers, and exposure to new trends and market developments ensures my company visits here regularly.”

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.

[1] “Technical Textile Market Size, Share & Trends Analysis Report 2022-2030”, 2022, Grand View Research, https://bit.ly/3IAxQIK, (Retrieved: January 2023)
[2] “Nonwoven Fabrics Market Size”, 7 September 2022, GlobeNewswire, https://bit.ly/3CxPE3u, (Retrieved: January 2023)

Source:

Messe Frankfurt (HK) Ltd

20.10.2022

adidas reports preliminary Q3 results and reduces its full year guidance

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

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

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

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

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

More information:
adidas guidance Covid-19
Source:

adidas AG

26.07.2022

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

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

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

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

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

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

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

More information:
adidas financial year 2022
Source:

adidas AG

19.07.2022

Rieter starts sales process for the remaining land owned by Rieter

  • Order intake of CHF 869.4 million, order backlog of more than CHF 2 100 million
  • Sales of CHF 620.6 million, preproduced deliveries in the three-digit million range had to be postponed until the second half of 2022
  • EBIT of CHF -10.2 million, net result of CHF -25.2 million due to significant cost increases, additional costs, and acquisition-related expenses
  • Action plan to increase sales and profitability
  • Rieter site Winterthur
  • Outlook

Rieter continued to be successful in the market in the first half of 2022. Based on the company’s technology leadership, innovative product portfolio and the completion of the ring- and compact-spinning system, a high order intake and a significant increase in sales were generated. The increase in sales was achieved even though preproduced deliveries in the three-digit million range had to be postponed until the second half of 2022. The order backlog is at a record level.

  • Order intake of CHF 869.4 million, order backlog of more than CHF 2 100 million
  • Sales of CHF 620.6 million, preproduced deliveries in the three-digit million range had to be postponed until the second half of 2022
  • EBIT of CHF -10.2 million, net result of CHF -25.2 million due to significant cost increases, additional costs, and acquisition-related expenses
  • Action plan to increase sales and profitability
  • Rieter site Winterthur
  • Outlook

Rieter continued to be successful in the market in the first half of 2022. Based on the company’s technology leadership, innovative product portfolio and the completion of the ring- and compact-spinning system, a high order intake and a significant increase in sales were generated. The increase in sales was achieved even though preproduced deliveries in the three-digit million range had to be postponed until the second half of 2022. The order backlog is at a record level. Despite higher sales, the significant increase in material and logistics costs, additional costs for compensation of the material shortages and the expenditure incurred for the acquisition in the years 2021/2022 resulted in a loss. Rieter is implementing an action plan to increase sales and profitability. The sales process for the remaining land owned by Rieter was initiated.

Order Intake and Order Backlog
Rieter posted an order intake of CHF 869.4 million, which included CHF 176.6 million from the businesses acquired in the years 2021/2022. As expected, demand has thus returned to normal compared with the exceptionally high figure for the prior-year period, but remains well above the average figure for the last five years of around CHF 570 million (first half 2021: CHF 975.3 million, first half 2022 excluding acquisition effect CHF 692.8 million).

The regional shift in demand with investments in additional spinning capacity outside China along with investments in the competitiveness of Chinese spinning mills continues. Rieter benefits from its technology leadership, the innovative product portfolio and the completion of the ring- and compact-spinning system through the acquisition of the automatic winding machine business. The largest order intakes came from India, Turkey, China, Uzbekistan, and Pakistan.

On June 30, 2022, the company had an order backlog of more than CHF 2 100 million (June 30, 2021: CHF 1 135 million). Cancellations in the reporting period amounted to around 5% of the order backlog.

Sales
The Rieter Group posted sales of CHF 620.6 million, which included CHF 68.9 million from the businesses acquired in the years 2021/2022 (first half 2021: CHF 400.5 million).

As a result, sales were significantly higher than in the prior-year period, although preproduced deliveries, which mainly affected the Business Group Machines & Systems, in the three-digit million range had to be postponed until the second half of 2022. The reasons for the postponements were the COVID lockdown in China and supply chain bottlenecks.

EBIT, Net Result and Free Cash Flow
Rieter posted a loss of CHF -10.2 million at the EBIT level in the first half of 2022.

Earnings were impacted by significantly higher material and logistics costs. The price increases already implemented are having a delayed effect, mainly in the Business Group Machines & Systems, and were therefore unable to compensate for the high increase in costs. In addition, costs in connection with material shortages negatively impacted profitability. The result also includes acquisition-related expenses of CHF -11.2 million.

The loss at the net result level was CHF -25.2 million, of which CHF -17.6 million was due to the acquisition.

Free cash flow was CHF -57.1 million, attributable to the build-up of inventories in connection with the high order backlog and postponed deliveries.

Action Plan to Increase Sales and Profitability
Rieter is implementing a comprehensive package of measures with the aim of increasing sales and profitability in the second half of 2022.

The package focuses on two main priorities: Firstly, Rieter is continuing to systematically implement price increases while working to improve the quality of margins of the order backlog, so as to compensate for cost increases in materials and logistics.
Secondly, Rieter is working closely with key suppliers and is developing alternative solutions to eliminate material bottlenecks, as far as possible, in order to safeguard deliveries.

Rieter Site Winterthur
The Board of Directors has decided to begin the process for the sale of the remaining land at the Rieter site in Winterthur (Switzerland). In total, around 75 000 m2 of land will be sold.

Outlook
As already reported, Rieter expects demand for new systems to normalize further in the coming months. Due to the capacity utilization at spinning mills, the company anticipates that demand for consumables, wear & tear and spare parts will remain at a good level.

For the full year 2022, due to the high order backlog and the consolidation of the businesses acquired from Saurer, Rieter expects sales of around CHF 1 400 million (2021: CHF 969.2 million). The reduced sales forecast compared to early 2022 (March 2022: CHF 1 500 million) reflects the impact of global supply bottlenecks. The realization of sales revenue from the order backlog continues to be associated with risks in relation to the well-known challenges.

Despite significantly higher sales, Rieter expects EBIT and net result for 2022 to be below the previous year’s level. This is due to the considerable increases in the cost of materials and logistics, additional costs for compensation of material shortages as well expenses in connection with the acquisition in the years 2021/2022. Despite the price increases already implemented, global cost increases continue to pose a risk to the growth of profitability.

Source:

Rieter Holding AG

26.05.2022

Rieter anticipates losses in the first half of 2022

  • Exceptionally high order backlog and sustained strong demand
  • Supply chain bottlenecks, COVID lockdown in China and significant cost increases
  • Takeover of winding machine business leads to additional costs
  • Sales and earnings adversely impacted in first half-year
  • Considerably improved market position

Despite an exceptionally high order backlog and sustained strong demand, Rieter’s business situation in the first half of 2022 is characterized by the well-known supply chain bottlenecks, the repercussions of the COVID lockdown in China and the significant increases in material and transportation costs.

Further costs are added in connection with the takeover of the automatic winding business as of April 1, 2022.

These factors are adversely impacting both sales and earnings.

  • Exceptionally high order backlog and sustained strong demand
  • Supply chain bottlenecks, COVID lockdown in China and significant cost increases
  • Takeover of winding machine business leads to additional costs
  • Sales and earnings adversely impacted in first half-year
  • Considerably improved market position

Despite an exceptionally high order backlog and sustained strong demand, Rieter’s business situation in the first half of 2022 is characterized by the well-known supply chain bottlenecks, the repercussions of the COVID lockdown in China and the significant increases in material and transportation costs.

Further costs are added in connection with the takeover of the automatic winding business as of April 1, 2022.

These factors are adversely impacting both sales and earnings.

Rieter expects significantly higher sales in the first half of 2022 compared to the prior-year period (first half of 2021: CHF 400.5 million). Rieter anticipates a loss at the EBIT and net result level in the first half of 2022 (first half of 2021: EBIT CHF 9.0 million, net result: CHF 5.3 million).
The company is working intensively on the implementation of measures to minimize the impact of the supply chain bottlenecks, the COVID lockdown in China and the cost increases. The implemented price increases have a delayed effect, particularly in the machinery business. The integration of the automatic winding business is proceeding according to plan.

As soon as the situation in the sourcing markets has normalized, Rieter expects to benefit from the exceptionally high order backlog and the considerably improved market position as a result of the takeover of the automatic winding business as well as Accotex and Temco.
Rieter will provide a detailed report on the business results of the first half of 2022 in July 2022.

Source:

Rieter Management AG

(c) Euratex
17.05.2022

EURATEX 2022 Spring Report: Exports of textile and clothing articles +10.6%

EURATEX has just released its Spring report, offering a detailed insight into trade figures for the European textile and apparel industry in 2021. The numbers are encouraging: comparing with the dramatic corona-year 2020, EU exports of textile and clothing articles increased by +10.6%, while imports dipped by -7.5%. As a result, the EU trade deficit improved, even it remains significant (- €48 billion).

Furthermore, import prices went slightly down in clothing and dropped in textiles, following a strong decrease of Chinese import prices of face masks and protective medical supplies.

The boost in exports was mainly due to strong performance on the Swiss, Chinese and US markets. On the other side, EU sales of textile & clothing to the United Kingdom fell sharply (-23%), due to Brexit new requirements, customs’ delays and shortage of truck drivers.  Imports from the EU top supplier, China, plunged by -28%, corresponding to €13 billion. Similarly, textile and clothing imports from the United Kingdom recorded a sharp decrease over the period (-48%, equal to €-3 billion).

EURATEX has just released its Spring report, offering a detailed insight into trade figures for the European textile and apparel industry in 2021. The numbers are encouraging: comparing with the dramatic corona-year 2020, EU exports of textile and clothing articles increased by +10.6%, while imports dipped by -7.5%. As a result, the EU trade deficit improved, even it remains significant (- €48 billion).

Furthermore, import prices went slightly down in clothing and dropped in textiles, following a strong decrease of Chinese import prices of face masks and protective medical supplies.

The boost in exports was mainly due to strong performance on the Swiss, Chinese and US markets. On the other side, EU sales of textile & clothing to the United Kingdom fell sharply (-23%), due to Brexit new requirements, customs’ delays and shortage of truck drivers.  Imports from the EU top supplier, China, plunged by -28%, corresponding to €13 billion. Similarly, textile and clothing imports from the United Kingdom recorded a sharp decrease over the period (-48%, equal to €-3 billion).

Director General Dirk Vantyghem commented: “the 2021 export figures, presented in this Spring report, confirm that EURATEX members have gained momentum; even if energy prices are causing some serious short-term disruptions, our long-term ambition remains to be a world leader on sustainable textiles.”

The international trade dimension is indeed critical for the competitiveness of the European textile ecosystem, and needs to be fully embedded in the EU’s Strategy for Sustainable and Circular Textiles. The Commission insists that “all textile products placed on the EU market, are durable, free of hazardous substances, produced respecting social standards…” This is an essential condition to create a level playing field between all textile and apparel companies, regardless of their production base. With €100 billion of imports, and over 20 billion of “foreign” textile items put on the Single Market, this requires a dramatic upscaling of market surveillance, without however disrupting fluid supply chains.

Looking at the impact of war in Ukraine, EURATEX has strongly condemned the Russian aggression, and offered support to the Ukrainian textile industry. Ukraine offers valuable sourcing opportunities for European textile and apparel brands, as part of a broader nearshoring trend, which seems to emerge from the trade figures.

More information:
Euratex export
Source:

Euratex

(c) RadiciGroup
11.05.2022

RadiciGroup closes 2021 with positive results

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

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

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

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

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

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

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

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

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

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

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

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

Source:

RadiciGroup

06.05.2022

adidas grows double-digit in Western markets in Q1 2022

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

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

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

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

For the full press release, see attached document.

Source:

adidas AG

Photo: SGL Carbon
05.05.2022

SGL Carbon: Dynamic business development in Q1 2022 continued

  • Low impact of Ukraine war on business performance in 1st quarter
  • 12.2% increase in sales to €270.9 million based on growth in all four business units
  • Adjusted EBITDA improves by 11.5% to €36.8 million

SGL Carbon generated consolidated sales of €270.9 million in Q1 2022 (Q1 2021: €241.5 million). This corresponds to an increase of €29.4 million or 12.2% compared to the same period of the prior year. All four business units contributed to the pleasing increase in sales. In parallel, adjusted EBITDA improved by 11.5% to €36.8 million in the reporting period.

  • Low impact of Ukraine war on business performance in 1st quarter
  • 12.2% increase in sales to €270.9 million based on growth in all four business units
  • Adjusted EBITDA improves by 11.5% to €36.8 million

SGL Carbon generated consolidated sales of €270.9 million in Q1 2022 (Q1 2021: €241.5 million). This corresponds to an increase of €29.4 million or 12.2% compared to the same period of the prior year. All four business units contributed to the pleasing increase in sales. In parallel, adjusted EBITDA improved by 11.5% to €36.8 million in the reporting period.

Sales development
In the first three months of fiscal 2022, the sales increase of €29.4 million was driven by all four operating business units: Graphite Solutions (+€11.3 million), Carbon Fibers (+€6.6 million), Composite Solutions (+€7.2 million) and Process Technology (+€6.0 million).
In particular, sales to customers in the automotive and semiconductor industries and a significant recovery in the industrial applications segment were key factors in the increase in sales. Sales of the Process Technology business unit to customers in the chemical industry also developed pleasingly. The effects of the war in Ukraine, which has been ongoing since the end of February 2022, had only a little impact on SGL Carbon's sales performance in the 1st quarter.

Earnings development
Despite the increasingly difficult market environment in the course of Q1 2022, associated with temporary supply and production bottlenecks at their customers, temporarily interrupted transport routes, and significantly higher energy prices, SGL Carbon was able to keep the adjusted EBITDA margin almost stable year-on-year at 13.6%.  
Adjusted EBITDA increased by 11.5% to €36.8 million in the reporting period. Higher capacity utilization in the business units and product mix effects contributed to the improvement in earnings, together with the cost savings achieved as a result of the transformation. By contrast, higher raw material, energy and logistics costs as of end of February 2022 had a negative impact on earnings. The Carbon Fibers business unit was particularly affected by the energy price increases. One-time expenses of €9.2 million in conjunction with energy transactions burdened the Carbon Fibers business unit in the 1st quarter of 2022.  
To secure our production and delivery capabilities, around 85% of the energy requirements of the entire SGL Carbon for 2022 are price-hedged.
Adjusted EBITDA and EBIT do not include in total positive one-time effects and special items of €8.5 million, among other things from the termination of a heritable building right to a site no longer in use. Taking into account the one-time effects and special items presented as well as depreciation and amortization of €14.1 million, reported EBIT increased by 83.5% to €31.2 million (Q1 2021: €17.0 million). The net profit for the period developed correspondingly and more than tripled from €6.1 million to €21.4 million in a quarter-on-quarter comparison.

Outlook
The sales and earnings figures for the 1st quarter 2022 confirm the stable demand from different market segments. Price increases and volatility in the availability of raw materials, transportation services and energy were largely offset by savings from the transformation program and pricing initiatives at the customers.
For 2022, SGL Carbon continues to expect volatile raw material and energy prices, which were included in their forecast for 2022 at the time of planning. However, there are uncertainties about the extent and duration to which SGL Carbon and the customers will be affected by the impact of the war in Ukraine or temporary supply chain disruptions due to the lockdowns in China. Therefore, SGL Carbon's outlook for fiscal 2022 does not include supply and/or production interruptions at customers or the impact of a possible energy embargo that cannot be estimated at this time.  
SGL Carbon's forecast also implies that factor cost increases can be at least partially passed on to the customers through pricing initiatives. SGL Carbon has also included the revenue and earnings impact from the expiry of a supply contract with a major automobile manufacturer at the end of June 2022 in our forecast.

Source:

SGL Carbon

29.03.2022

Esprit Announces Annual Results for FY2021

  • Revenue Increases to HK$8,316 Million with Net Profit After Tax Surging Significantly
  • Recording a Turnaround to HK$381 Million
  • Re-Establishes ESPRIT’s Market Leadership

ESPRIT HOLDINGS LIMITED has announced its audited financial annual results for the year ended 31 December 2021, highlighted by a significant increase in both revenue and profit attributable to shareholders of the Company to HK$8,316 million and HK$381 million respectively, in which the profit attributable to shareholders of the Company also recorded a turnaround versus the loss attributable to shareholders of the Company of HK$414 million for the six months ended 31 December 2020. Gross profit margin was 48.6%, 7.0% higher than the Corresponding Period. Please refer to the Company’s results announcement for the Current Year for further details.

  • Revenue Increases to HK$8,316 Million with Net Profit After Tax Surging Significantly
  • Recording a Turnaround to HK$381 Million
  • Re-Establishes ESPRIT’s Market Leadership

ESPRIT HOLDINGS LIMITED has announced its audited financial annual results for the year ended 31 December 2021, highlighted by a significant increase in both revenue and profit attributable to shareholders of the Company to HK$8,316 million and HK$381 million respectively, in which the profit attributable to shareholders of the Company also recorded a turnaround versus the loss attributable to shareholders of the Company of HK$414 million for the six months ended 31 December 2020. Gross profit margin was 48.6%, 7.0% higher than the Corresponding Period. Please refer to the Company’s results announcement for the Current Year for further details.

Such financial improvement was attributable to various reasons, including (i) the new infrastructure and strategies instituted by the current management team; (ii) improvement in sales with higher gross profit margin; (iii) positive results of efficient cost control measures; (iv) improved inventory management; and (v) growth in E-commerce.

Although revenue in the Current Year was affected by lockdowns in the Company’s major European markets during the first quarter of 2021, and due to increased restrictions on entry requirements into stores during the fourth quarter of 2021, the Group generated revenue via three main channels: E-commerce, wholesale, and owned retail stores. As the ESPRIT brand website and third-party E-commerce partners continued to trade during lockdown, a large portion of the Group’s sales were generated online. This business model allowed it to mitigate some of the negative impacts of the Pandemic in the retail segment. Another driver of growth came from selling fewer discounted products from the Company’s retail business compared to 2020.

The Group has not forgotten the ESPRIT mission and long-standing commitment to sustainability. The Company has continued to work tirelessly towards developing cutting-edge materials that set new standards in terms of environmental sustainability. The Company has formulated and further advanced its ESG strategies to establish ESPRIT as an industry pioneer. Such strategies involve the greater use of sustainable fibers, developing new and innovative product options that support a circular economy, and ensuring environmental awareness is a key message that underpins all of the Group’s projects. To achieve these objectives, the Management has identified four key pillars of growth (Sourcing and Procurement; Marketing and Product; IT, Internet, and E-commerce; and The ESPRIT Brand Story) that are paramount in maintaining the loyalty of existing ESPRIT patrons and attracting new customers.

Looking ahead, the global economy is anticipated to be negatively affected by the lingering effects of the coronavirus pandemic and the conflict in Ukraine. The already unstable logistics industry and disrupted supply chain will likely be further impacted, which in turn will result in higher logistic service costs. Despite the unfavorable global economic outlook, the Group believes that under the leadership of its current management and with the support of dedicated staff members, the Company is on track to ongoing profit growth.

Source:

FleishmanHillard

24.03.2022

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

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

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

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

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

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

* See attachment document for more information,

Photo: Ralph Koch for Mayer & Cie.
23.03.2022

Mayer & Cie.: Successful 2021 - Digitisation, Sustainability and Modernisation topics for 2022

Looking back, 2021 was a positive year for the Albstadt-based circular knitting machine and braiding machine manufacturer Mayer & Cie. After two tough years, sales exceeded Euro 100 million again last year, and the outlook for this year is promising, with production working at long-term full capacity in the circular knitting machine sector.

Looking back, 2021 was a positive year for the Albstadt-based circular knitting machine and braiding machine manufacturer Mayer & Cie. After two tough years, sales exceeded Euro 100 million again last year, and the outlook for this year is promising, with production working at long-term full capacity in the circular knitting machine sector.

In order to maintain its market edge Mayer & Cie. continues to rely on digitisation of both its processes and its products. Substantial investment at its headquarters location, especially in machinery, is on the Mayer & Cie. agenda for 2022. In the years ahead a range of production machinery – lathes, gear cutting and grinding machines – is to be replaced at a scheduled cost running into low double-digit millions. Last year saw an investment in a robot-controlled laser hardening system for heat-treating machine components. The company passes an energy upgrade milestone these days with launching its new CHP cogeneration units.  
 
“Compared with 2020, our Group sales were up by about 40 per cent in 2021,” said Mayer & Cie. Managing Director Benjamin Mayer. After two difficult years in 2019 and 2020 the circular knitting machine manufacturer was able last year to restore sales to a stable level of about 103 million Euro. And it could have achieved an even better result. “Supply chain problems hampered production perceptibly,” the company’s managing director said. “In view of the order situation up to five per cent more might have been possible.” The Albstadt textile machinery manufacturer’s order position has stayed at a sound, high level since the fourth quarter of 2020, and orders in hand will already keep the circular knitting machine division busy until the end of the year, with orders coming in from all over the world, but especially, and with no change, from the company’s core markets Turkey, China and India.

The Management views with concern, however, the conflict in the Ukraine, which at first glance may not affect the sales market directly but might lead to general purchasing restraint in the capital goods sector that like the trade war between the United States and China, which began in 2018, would also affect Mayer & Cie. In addition, effects of the conflict such as high energy prices and interruptions in material supplies and logistics pose a genuine challenge in the further course of the year.

In the braiding machine division, the order position recovered in 2021. Sales of new machines and, especially, spare parts exceeded the 2020 figures significantly. Mayer & Cie. has once more won an award for its in-house and external digitisation measures as one of the most innovative German SMEs. The textile machinery manufacturer won a 2022 Top 100 award for its innovative processes in particular.

Source:

Mayer & Cie.

10.11.2021

adidas' performance in a challenging environment during Q3 2021

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

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

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

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

*See attached document for more information.

More information:
adidas Covid-19
Source:

adidas AG

(c) CHIC / JANDALI
29.10.2021

CHIC fueled fashion business in Shanghai and Shenzhen

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Source:

CHIC / JANDALI

(c) Euratex
EU-27 Textile & Clothing Turnover
12.10.2021

EURATEX: Latest economic data confirm further recovery of the textile and clothing industry

European Textiles and Clothing (T&C) industry coming out of the Covid19-crisis, but facing new challenges ahead. This recovery may however be disrupted by the current supply chain and energy problems. Latest economic data on the European T&C industry confirm further recovery from the corona pandemic. The textile activity has now surpassed its pre-pandemic level from Q4 2019 (+3.6%); the clothing sector still remains 11.5% below, but continues to improve.

European Textiles and Clothing (T&C) industry coming out of the Covid19-crisis, but facing new challenges ahead. This recovery may however be disrupted by the current supply chain and energy problems. Latest economic data on the European T&C industry confirm further recovery from the corona pandemic. The textile activity has now surpassed its pre-pandemic level from Q4 2019 (+3.6%); the clothing sector still remains 11.5% below, but continues to improve.

In quarter-on-quarter terms, the EU turnover showed signs of improvements across the sector. The textile turnover increased by +3.3% in Q2 2021, after slightly contracting in Q1 2021. Similarly, the business activity in the clothing sector expanded by +7% in Q2 2021, after increasing by +1% in the previous quarter.
 
In the 2nd quarter 2021, the EU-27 trade balance for T&C improved, resulting mostly from an increase of export sales across third markets and a drop of textile imports. T&C Extra-EU exports boomed by +49% as compared with the same quarter of the previous year. T&C Extra-EU imports went down by -26% as compared with the same quarter of the previous year, following a decrease of imports from some main supplier countries. EU imports from China and the UK collapsed due to a combination of Brexit and weaker demand in Europe.
 
During the second quarter of 2021, job creation was slowly stabilising in the textile industry (-0.2% q-o-q), while employment in the clothing sector continued to be affected by lower levels of production activity in industry during the first part of the year (-1.2%). When compared to its pre-pandemic level in Q4 2019, EU employment in Q2 2021 was still 4.4% down in textiles and 11.8% down in clothing.

However, this fragile recovery is hampered by higher shipping costs and prices’ increase in raw materials and energy. The cost of energy, in particular gas, has increased more than 3 times since the beginning of this year. Since the announcement of the EU’s “Fit for 55” package, we have seen CO2 prices rising above €60. This inevitably has an impact on the industry’s competitiveness, especially in a global context. The future recovery is also threatened by some factors limiting production, such as shortage of labour force and equipment, which are putting additional pressure on T&C industries.

Director General Dirk Vantyghem commented on these latest figures: “Our companies have shown great resilience during the pandemic, and their latest export performance is an encouraging sign of recovery. This recovery may however be disrupted by the current supply chain and energy problems. Once again, recent developments show that this transition towards more sustainable production can only work if organised in a global context, avoiding carbon leakage and with an effective level playing field. This must be considered in the upcoming EU Textiles Strategy.”

More information:
Euratex
Source:

Euratex

15.07.2021

Rieter: First half of 2021

  • Order intake of CHF 975.3 million (first half of 2020: CHF 250.7 million).
  • Sales of CHF 400.5 million (first half of 2020: CHF 254.9 million).
  • EBIT of CHF 9.0 million and net profit of CHF 5.3 million

The first half of 2021 has been characterized by a strong market recovery in combination with a regional shift in demand for new machinery and systems. Rieter anticipates a normalization of the demand for new systems in the coming months. The company assumes that spinning mills will continue to work at high-capacity levels.

For the full year, Rieter expects sales to be above CHF 900 million.

The realization of sales from the order backlog continues to be associated with risks in light of bottlenecks in material deliveries and freight capacities as well as the ongoing pandemic in key markets for Rieter.

In recent years, Rieter has implemented its strategy based on the cornerstones of innovation leadership, strengthening the components, spare parts and services businesses, and adjusting cost structures.

  • Order intake of CHF 975.3 million (first half of 2020: CHF 250.7 million).
  • Sales of CHF 400.5 million (first half of 2020: CHF 254.9 million).
  • EBIT of CHF 9.0 million and net profit of CHF 5.3 million

The first half of 2021 has been characterized by a strong market recovery in combination with a regional shift in demand for new machinery and systems. Rieter anticipates a normalization of the demand for new systems in the coming months. The company assumes that spinning mills will continue to work at high-capacity levels.

For the full year, Rieter expects sales to be above CHF 900 million.

The realization of sales from the order backlog continues to be associated with risks in light of bottlenecks in material deliveries and freight capacities as well as the ongoing pandemic in key markets for Rieter.

In recent years, Rieter has implemented its strategy based on the cornerstones of innovation leadership, strengthening the components, spare parts and services businesses, and adjusting cost structures.

Crisis management in the pandemic year of 2020 was aimed at protecting employees, fulfilling customer commitments, ensuring liquidity, and also strengthening the market position for the time after the pandemic as well as retaining the ability to benefit from the incipient market recovery.

The focus for 2021 remains on the implementation of this strategy. The measures for crisis management relating to the protection of employees and fulfilling customer commitments are still in effect in countries that continue to be affected by the pandemic.

The Rieter Board of Directors has approved the implementation of the CAMPUS project. The Rieter CAMPUS comprises a customer and technology center as well as an administration building at the Winterthur location. It will make an important contribution to the implementation of the innovation strategy and to the enhancement of Rieter’s technology leadership position.

Source:

Rieter

13.07.2021

SGL Carbon SE: Preliminary sales and earnings figures for the first half of the year

  • Forecast raised for 2021

Based on the encouraging business performance in the first half of 2021 and the transformation successes, SGL Carbon expects strong Group results for the first six months of 2021 and raises its guidance for fiscal year 2021.

The company expects to exceed the upper end of the stated range of its Group EBITDA pre1 guidance (earnings before interest, taxes and depreciation adjusted by non-recurring items and one-time effects) for fiscal year 2021 of EUR 100 to 120 million and raises the EBITDA pre guidance for 2021 to EUR 130 –140 million.

SGL Carbon's sales forecast is also increased slightly to approximately EUR 1.0 billion for the current fiscal year, up from EUR 920 – 970 million originally. The company expects free cash flow for the full year to be correspondingly above the forecast of EUR 20 million given at the beginning of the year. A slightly positive consolidated net result is also predicted for 2021.

  • Forecast raised for 2021

Based on the encouraging business performance in the first half of 2021 and the transformation successes, SGL Carbon expects strong Group results for the first six months of 2021 and raises its guidance for fiscal year 2021.

The company expects to exceed the upper end of the stated range of its Group EBITDA pre1 guidance (earnings before interest, taxes and depreciation adjusted by non-recurring items and one-time effects) for fiscal year 2021 of EUR 100 to 120 million and raises the EBITDA pre guidance for 2021 to EUR 130 –140 million.

SGL Carbon's sales forecast is also increased slightly to approximately EUR 1.0 billion for the current fiscal year, up from EUR 920 – 970 million originally. The company expects free cash flow for the full year to be correspondingly above the forecast of EUR 20 million given at the beginning of the year. A slightly positive consolidated net result is also predicted for 2021.

Previously, the company had assumed a consolidated net result of between EUR -20 million and EUR 0. According to preliminary figures, SGL Carbon expects Group sales for H1 2021 of around EUR 496 million (H1 2020: EUR 456.5 million). This corresponds to an increase of around 9% compared to the same period of the previous year. Based on the sales increase and the cost effects achieved from the transformation, EBITDA pre (EBITDA before non-recurring items and one-time effects) increased to around EUR 72 million in the first six months of 2021 (H1 2020: EUR 42.0 million).

The updated forecast for fiscal 2021 has been prepared on the basis of the prevailing market environment and assumes no deterioration in conditions due to the corona pandemic. In particular, it is based on the assumption that purchasing prices and logistics chains remain stable and production lines remain in operation. The communicated medium-term targets up to 2025 remain unaffected by the forecast adjustment. SGL Carbon will release its 2021 half-year figures as planned on August 12, 2021.

More information:
SGL Carbon SGL Carbon SE
Source:

SGL Carbon SE

Oerlikon: Booth at ITMA Asia 2021 (c) Oerlikon
01.06.2021

Oerlikon with a hybrid trade show concept at ITMA Asia

On the occasion of the VDMA press conference, André Wissenberg, Head of Marketing, Corporate Communications and Public Affairs at Oerlikon Polymer Processing Solutions Division, presented the company's concept for ITMA Asia with the claim: Clean Technology. Smart Factory.

Due to the Corona pandemic, Oerlikon has decided to concentrate with their Chinese sales and service teams on guests primarily from China and greater Asia. However, some experts from Germany, who are working in China at our locations anyway, will be live on site at the booth. Other experts from Germany, India and US will be available online for the entire 5 days of the trade fair and will simply be connected by video conference to the discussion with the visitors on site if there is a need for.

On the occasion of the VDMA press conference, André Wissenberg, Head of Marketing, Corporate Communications and Public Affairs at Oerlikon Polymer Processing Solutions Division, presented the company's concept for ITMA Asia with the claim: Clean Technology. Smart Factory.

Due to the Corona pandemic, Oerlikon has decided to concentrate with their Chinese sales and service teams on guests primarily from China and greater Asia. However, some experts from Germany, who are working in China at our locations anyway, will be live on site at the booth. Other experts from Germany, India and US will be available online for the entire 5 days of the trade fair and will simply be connected by video conference to the discussion with the visitors on site if there is a need for.

At ITMA Asia 2021, Oerlikon will present the next generation of an automatic texturing solution with up to 25 % energy saving and up to 30 % higher production speed, easy maintenance and best yarn quality. The core of this machine, the socalled EvoCooler, will be shown as an exhibit in combination with digital solutions like AIM4DTY. In the field of high-precision flow control solutions components, the two new gear metering pumps developments for the production of aramid and spandex will be presented as well.

Baldwin receives three FlexoCleanerBrush™ orders in 30 days (c) Baldwin Technology
Baldwin’s three new FlexoCleanerBrush installations are located in Bevaria (Germany), Michigan (US) and Florida (US). The Florida order was secured in partnership with local agent Technoflex in South Carolina (US).
23.03.2021

Baldwin receives three FlexoCleanerBrush™ orders in 30 days

  • Full-width automated cleaning system will be installed on high-graphics corrugated presses

Baldwin Technology Company Inc. has successfully landed three new FlexoCleanerBrush orders, with a total of 16 cleaning heads, from customers in the US and Germany. During the COVID-19 pandemic, Baldwin has delivered a total of 30 FlexoCleanerBrush cleaning heads, thanks to close collaboration between onsite team members, local agents, the company’s global sales organization, and support from its product and technology center in Germany. With the FlexoCleanerBrush system, an inline cleaning station installed within each print unit uses a brush that runs the full width of each printing plate. Paired with a precision spray application system, the FlexoCleanerBrush evenly distributes a mixture of detergent and water across the plate as it spins, gently cleaning its surface. The plates are then dried by the integrated air knife.

  • Full-width automated cleaning system will be installed on high-graphics corrugated presses

Baldwin Technology Company Inc. has successfully landed three new FlexoCleanerBrush orders, with a total of 16 cleaning heads, from customers in the US and Germany. During the COVID-19 pandemic, Baldwin has delivered a total of 30 FlexoCleanerBrush cleaning heads, thanks to close collaboration between onsite team members, local agents, the company’s global sales organization, and support from its product and technology center in Germany. With the FlexoCleanerBrush system, an inline cleaning station installed within each print unit uses a brush that runs the full width of each printing plate. Paired with a precision spray application system, the FlexoCleanerBrush evenly distributes a mixture of detergent and water across the plate as it spins, gently cleaning its surface. The plates are then dried by the integrated air knife.

“With two of the recent orders, the customers had already installed the FlexoCleanerBrush in other locations. One of them reported as much as a 30 percent production capacity increase, thanks to the  installation,” said Lee Simmonds, Regional Sales Manager at Baldwin. “Both customers have experienced insufficient results with their original traversing cloth cleaning systems, which will now be removed and replaced with the full-width, stand-alone, automated FlexoCleanerBrush technology from Baldwin.”

Improving sustainability is one of the key drivers for investments in the corrugated printing industry. The FlexoCleanerBrush dramatically cuts water waste by cleaning plates more efficiently. In a recent independent study that was conducted to validate the capacity of the automated system, the FlexoCleanerBrush could fully clean and dry all printing plates in less than four minutes and pick hickeys in seconds.

Besides offering efficient cleaning during runs and fast end-of-job cleaning, the FlexoCleanerBrush system also enables operators to remove dry plates from the machine without the potential risk of plates sticking together once they are placed back in the plateracking system. This helps to ensure increased board throughput, less downtime and a safer working environment by eliminating operators’ contact with nip points, moving parts and chemicals.

Source:

Baldwin Technology

09.03.2021

Rieter Financial Year 2020

Financial Year 2020

As a consequence of the COVID-19 pandemic, Rieter closed the 2020 financial year with sales of CHF 573.0 million, which corresponds to a decrease of 25% compared to the previous year (2019: CHF 760.0 million). Due to the low sales volume, a loss of CHF 84.4 million was recorded at the EBIT level while at the net profit level the loss was CHF 89.8 million. In view of the loss in the 2020 financial year, the Board of Directors proposes that shareholders waive the payment of a dividend for 2020.

Order intake of CHF 640.2 million in the 2020 financial year was 31% down on the previous year (2019: CHF 926.1 million). Following the significant slump in demand in the second quarter of 2020 (CHF 45.7 million), order intake recovered in the third quarter (CHF 174.4 million) and improved further in the fourth quarter (CHF 215.1 million).

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

Financial Year 2020

As a consequence of the COVID-19 pandemic, Rieter closed the 2020 financial year with sales of CHF 573.0 million, which corresponds to a decrease of 25% compared to the previous year (2019: CHF 760.0 million). Due to the low sales volume, a loss of CHF 84.4 million was recorded at the EBIT level while at the net profit level the loss was CHF 89.8 million. In view of the loss in the 2020 financial year, the Board of Directors proposes that shareholders waive the payment of a dividend for 2020.

Order intake of CHF 640.2 million in the 2020 financial year was 31% down on the previous year (2019: CHF 926.1 million). Following the significant slump in demand in the second quarter of 2020 (CHF 45.7 million), order intake recovered in the third quarter (CHF 174.4 million) and improved further in the fourth quarter (CHF 215.1 million).

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

Business Groups
Sales of the Business Group Machines & Systems amounted to CHF 295.8 million in 2020, which corresponds to a decrease of 24% compared to the previous year. Due to the low volume and taking into account the expenditure on the ongoing innovation program, the business group recorded a loss of CHF 72.4 million at the EBIT level. Order intake in the reporting year was CHF 363.9 million (-35% compared to the previous year).

The Business Group Components with sales of CHF 174.3 million (-24% compared to the previous year) achieved a profit of CHF 1.4 million at the EBIT level before restructuring charges. EBIT after restructuring charges was CHF -5.5 million. The order intake with CHF 169.1 million (-24% compared to the previous year) was just below sales.

The Business Group After Sales achieved sales of CHF 102.9 million (-27% compared to the previous year) and a positive EBIT of CHF 1.8 million. Order intake was CHF 107.2 million (-24% compared to the previous year). Over 60% of spinning mills were shut down in the second quarter of 2020, with a corresponding impact on the demand for spare parts.

Dividend
Due to the loss of CHF 89.8 million at the net profit level in the 2020 financial year, the Board of Directors proposes that shareholders waive the distribution of a dividend.

Outlook
Rieter expects the market recovery that began in the second half of 2020 to continue in 2021. The company expects an order intake in the first half of 2021 exceeding that of the previous half year (second half of 2020: CHF 389.5 million). Thanks to the improved capacity utilization, Rieter is planning short-time working in only a few areas in the first half of 2021. Nonetheless, as already announced, Rieter still anticipates that sales in the first half of 2021 will be below the break-even point. In connection with the high order backlog at the beginning of 2021, Rieter expects an operating profit for the full year 2021.

Source:

Rieter Management AG