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(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

01.04.2022

Carbios presents its 2021 Annual Results

  • 2021 Annual Results: First IFRS consolidated statements integrating the subsidiary Carbiolice
  • Plan to build a first industrial facility with a strong financial support from the French Government and the Grand-Est Region: site selected in France in partnership with Indorama Ventures, world leader in the production recycled PET
  • Successful commissioning of a demonstration facility in September 2021 and confirmation of the validity of the scale-up of Carbios’ enzymatic recycling technology
  • Takeover of Carbiolice and full integration in the consolidated IFRS statements since June 4th, 2021
  • Appointment of Philippe Pouletty as Chairman of the Board of Directors on April 1st, 2022
  • Appointment of Emmanuel Ladent as CEO of the Company on December 1st, 2021
  • Strengthening of Carbios’ financial structure: capital increase of €114 million with French and International investors and €30 million loan from the European Investment Bank (EIB)
  • Group’s cash position of €105 million as of December 31, 2021, which does not include the €30 million EIB loan due to be drawn down in the first half of 2022

Carbios,

  • 2021 Annual Results: First IFRS consolidated statements integrating the subsidiary Carbiolice
  • Plan to build a first industrial facility with a strong financial support from the French Government and the Grand-Est Region: site selected in France in partnership with Indorama Ventures, world leader in the production recycled PET
  • Successful commissioning of a demonstration facility in September 2021 and confirmation of the validity of the scale-up of Carbios’ enzymatic recycling technology
  • Takeover of Carbiolice and full integration in the consolidated IFRS statements since June 4th, 2021
  • Appointment of Philippe Pouletty as Chairman of the Board of Directors on April 1st, 2022
  • Appointment of Emmanuel Ladent as CEO of the Company on December 1st, 2021
  • Strengthening of Carbios’ financial structure: capital increase of €114 million with French and International investors and €30 million loan from the European Investment Bank (EIB)
  • Group’s cash position of €105 million as of December 31, 2021, which does not include the €30 million EIB loan due to be drawn down in the first half of 2022

Carbios, a pioneer in the development of enzymatic solutions dedicated to the end-of-life of plastic, announced its operating and financial results for the year 2021. The financial statements as of December 31, 2021, were approved by the Company’s Board of Directors at their meeting on March 31, 2022.

“In 2021, Carbios achieved several technical and industrial milestones testifying of the soundness and successful execution of our strategy. The excellent results obtained from our demonstration plant confirms the industrial scale-up potential of our biological technology for the recycling of PET plastics and fibers. Together with our Consortium members, we also produced the world’s first food-grade PET sample bottles produced entirely from enzymatically recycled plastics; a world first. In addition, we have strengthened our financial structure by raising a landmark €114 million in May 2021 and we have taken full control of Carbiolice in June. In line with our objectives and with a strong financial support from the French Government and the Grand-Est Region, we will soon enable France to host the world’s first industrial facility dedicated to the biological recycling of plastics. Carbios’ enzymatic process will make it possible to recycle more than 50,000 tons of PET plastic waste per year,” comments Emmanuel Ladent, CEO of Carbios. “Our priority for 2022 is to finalize the terms of our partnership with Indorama Ventures, which will host the world’s first industrial facility operating our biological recycling process at its French production site in Longlaville. This year will also be about optimizing our commercial strategy, while continuing our innovation efforts on the end-of-life of other polymers.”

Click here to for further information.

Source:

Carbios

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,

21.01.2022

Autoneum: Revenue development in 2021 impacted by semiconductor shortage

Business of the automobile industry and its suppliers was impacted in 2021 by the worldwide shortage of semiconductors and the correspondingly restrained development of production volumes, which was about the same as the previous year. Autoneum’s revenue in local currencies declined slightly by 1.6% compared with the previous year. In Swiss francs, Group revenue decreased by 2.3% to CHF 1 700.4 million year-on-year. For 2021 as a whole, an EBIT margin of a little more than 3% and a free cash flow of around CHF 70 million are expected.

Business of the automobile industry and its suppliers was impacted in 2021 by the worldwide shortage of semiconductors and the correspondingly restrained development of production volumes, which was about the same as the previous year. Autoneum’s revenue in local currencies declined slightly by 1.6% compared with the previous year. In Swiss francs, Group revenue decreased by 2.3% to CHF 1 700.4 million year-on-year. For 2021 as a whole, an EBIT margin of a little more than 3% and a free cash flow of around CHF 70 million are expected.

Owing to the global shortage of semiconductors, automobile production for 2021 as a whole increased by 2.5% to 76.4 million vehicles and was thus only slightly higher than the previous year’s level. Autoneum’s revenue in local currencies declined by 1.6% year-on-year. Although revenue developed better than the market in three of four regions, the Company lagged slightly behind the global market trend. On the one hand, this was due to the fact that some vehicle models of US manufacturers predominantly supplied by Autoneum were disproportionately affected by the shortage of semiconductors, and, on the other hand, due to the lower share of Business Group Asia in Autoneum’s total revenue. The consolidated revenue in Swiss francs fell by 2.3% to CHF 1 700.4 million compared to the previous year (2020: CHF 1 740.6 million).

Revenue development in the Europe, Asia and SAMEA regions well above market
Business Group Europe recorded a decline in revenue of 1.6% in local currencies and was thus well above the market trend, which saw production fall by 4.4%. By contrast, revenue for Business Group North America in local currencies dropped by 7.2% and was thus well below the market, which saw a small increase of 0.1%. The vehicle models of US customers predominantly supplied by Autoneum were disproportionately affected by the semiconductor shortage. Consequently, Autoneum lagged behind the market trend in this region. Asia was the market least impacted by the semiconductor shortage in financial year 2021. Accordingly, in 2021 Asian automobile production saw good growth of 5.1%. Business Group Asia once again exceeded the overall Asian market, with revenue growth of 6.7% in local currencies. Business Group SAMEA (South America, the Middle East and Africa) significantly exceeded the market trend in financial year 2021.

Although 8.6% more vehicles were produced in the region compared to the prior year, Business Group SAMEA’s revenue rose by an impressive 24.8% on an inflation- and currency-adjusted basis. This growth was largely supported by high-volume programs in Turkey and South Africa.

Thanks to better than expected revenue at the end of 2021, Autoneum is in the upper range of its guidance, which was adjusted in October. Based on provisional figures, Autoneum expects an EBIT margin of slightly more than 3% and a free cash flow of around CHF 70 million for 2021.

More information:
Autoneum Automotive acoustic
Source:

Autoneum Management AG

12.08.2021

SGL Carbon: strong first half of 2021

  • Transformation program and improving order situation show first successes
  • Sales up 8.8% to €496.7 million compared with first half of previous year
  • Adjusted EBITDA improves by 70.7% to €71.7 million
  • Positive business development led to forecast increase on July 13, 2021

While the past fiscal year 2020 was still characterized by a Corona-related slump in orders in many business areas of SGL Carbon, demand picked up again in the first six months of 2021. Accordingly, Group sales increased by 8.8% to €496.7 million in H1 2021 (H1 2020: €456.5 million).

The Carbon Fibers and Composite Solutions Business Units particularly contributed to the €40.2 million increase in sales. Carbon Fibers contributed €166.4 million to Group sales, especially benefiting from increased demand from the automotive market segment. In the Composite Solutions Business Unit, the increase in sales of 52.4% to €60.2 million was also primarily based on the recovering demand from the automotive industry.

  • Transformation program and improving order situation show first successes
  • Sales up 8.8% to €496.7 million compared with first half of previous year
  • Adjusted EBITDA improves by 70.7% to €71.7 million
  • Positive business development led to forecast increase on July 13, 2021

While the past fiscal year 2020 was still characterized by a Corona-related slump in orders in many business areas of SGL Carbon, demand picked up again in the first six months of 2021. Accordingly, Group sales increased by 8.8% to €496.7 million in H1 2021 (H1 2020: €456.5 million).

The Carbon Fibers and Composite Solutions Business Units particularly contributed to the €40.2 million increase in sales. Carbon Fibers contributed €166.4 million to Group sales, especially benefiting from increased demand from the automotive market segment. In the Composite Solutions Business Unit, the increase in sales of 52.4% to €60.2 million was also primarily based on the recovering demand from the automotive industry.

With sales of €221.2 million, the Graphite Solutions business area contributed around 44.5% of SGL Group sales. The 3.8% increase in the division's sales was particularly due to the positive development in the important markets of the LED, semiconductor and automotive industries.

Transformation program:
The restructuring and transformation process initiated at SGL Carbon made a significant contribution to the Company's positive sales and earnings performance. In addition to leaner and more efficient structures as well as a reorganization of the business units with responsibility for results, a large number of improvements and cost initiatives in all business units and sites have contributed to the success of the ongoing transformation program.

Forecast increase:
Due to pleasing business development in the first half of the year as well as transformation successes, SGL Carbon raised its forecast for fiscal year 2021 on July 13, 2021. For the financial year 2021, the company now expects consolidated sales of around €1.0 billion (previously: €920 - 970 million). In line with developments in the first half of 2021 and the results from the transformation, adjusted EBITDA for 2021 is expected to be between €130 - 140 million (previously: €100 - 120 million). Accordingly, a slightly positive net profit is now forecasted for fiscal year 2021 (previously: €-20 million to €0).

More information:
SGL Carbon SGL Carbon SE
Source:

SGL CARBON SE