From the Sector

Stahl has published its 2023 Environmental, Social and Governance (ESG) Report. The report outlines Stahl's recent progress on its ESG Roadmap to 2030 and the steps the company is taking to live its purpose of Touching lives, for a better world.

Stahl’s ESG Roadmap to 2030 includes interim targets for 2023, making this a year in which Stahl reached several important milestones. For example, the company reduced its scope 1 and 2 greenhouse gas (GHG) emissions by 22% versus 2022. Furthermore, in 2023 the Science Based Targets initiative (SBTi) validated Stahl's scope 1, 2 and 3 targets, making it one of the first coatings companies on the SBTi-approved list.

To reduce its GHG emissions, Stahl is actively increasing its use of clean energy. At the end of 2023, renewable energy generation, such as solar panels, had been installed at four Stahl sites, compared to its target of three.

Measuring – and reducing – the impact of products is an important step in the company’s scope 3 emissions. As such, 353 Stahl products now have either life cycle assessment (LCA) or product carbon footprint (PCF) data, far exceeding the 2023 target of 50.
 
New ratings and certifications
In 2023, 2,161 of Stahl's products were certified by Zero Discharge of Hazardous Chemicals (ZDHC), in line with ZDHC MRSL V3.1. These products represented 70% of the company’s sales revenue, demonstrating increased demand for coatings with a lower risk to health and the environment.

Stahl was also proud to achieve a Platinum rating from EcoVadis for the second year in a row, which places it in the top 1% of companies evaluated. Stahl also exceeded its 2023 target of an average EcoVadis rating of at least 60/100 for their top ten suppliers, with an average rating of 68/100 reported in December 2023.
Fostering a safe and welcoming work environment

A core pillar of Stahl’s ESG approach is how it supports its employees’ physical and mental well-being. The 2023 ESG Report outlines several examples of this commitment, such as improvement in its key safety KPIs for the third year in a row.

Besides keeping people safe, Stahl continues to make progress in fostering an open and inclusive workplace. For example, in support of diversity, equity and inclusion (DEI), Stahl appointed its first female leadership team member, trained 98% of its staff in DEI and established DEI committees at all Stahl sites. In addition, to strengthen communication, engagement and collaboration across the workforce, Stahl also established an internal workplace hub, MyStahl.

adidas announced preliminary results for the first quarter of 2024. In Q1, currency-neutral revenues increased 8% versus the prior year level. In euro terms, the company’s revenues grew 4% to € 5.458 billion (2023: € 5.274 billion). The company’s gross margin improved 6.4 percentage points to 51.2% during the quarter (2023: 44.8%). Operating profit reached € 336 million in Q1 (2023: € 60 million).

As a result of the better-than-expected performance during the quarter, the company has increased its full-year guidance. adidas now expects currency-neutral revenues to increase at a mid- to high-single-digit rate in 2024 (previously: increase at a mid-single-digit rate). The company’s operating profit is now expected to reach a level of around € 700 million (previously: to reach a level of around € 500 million).  

The latest Yeezy drop generated revenues of around € 150 million and an operating profit of around € 50 million in the first quarter. In its guidance, the company assumes the sale of the remaining Yeezy inventory during the remainder of the year to occur on average at cost. This would result in additional sales of around € 200 million and no further profit contribution during the remainder of the year.

The company continues to expect unfavorable currency effects to weigh significantly on the company’s profitability this year. These effects are projected to continue to negatively impact both reported revenues and the gross margin development in 2024.

Christoph Kowitz, currently head of WACKER’s Corporate Research Department, takes charge of the Group’s U.S. subsidiary Wacker Chemical Corporation (WCC) at the beginning of May. He succeeds David Wilhoit who has been responsible for WACKER’s North and Central American business since 2015 and is now retiring.

Christoph Kowitz has already held various management positions. After obtaining his doctorate in organic chemistry and polymer chemistry, he began his professional career as a product developer at BASF AG in Ludwigshafen in 1996. From 1997 onwards, he worked for several years as a management consultant for McKinsey in Asia and Europe. After several management positions in the chemical industry, including Germany-based specialty chemicals manufacturer Cognis, Kowitz moved to WACKER in 2013, where he headed the Performance Silicones unit within the WACKER SILICONES division. Since 2018, he has been Head of Corporate R&D and thus also responsible for innovation management within the Group.

Stratasys Ltd. published its second Mindful Manufacturing™ ESG and Sustainability Report in accordance with the Global Reporting Initiative (GRI) standards, fulfilling its commitment to transparency. The report includes an extensive overview of activities and advancements in Stratasys’ environmental, social and governance (ESG) programs.

Some highlights of the Mindful Manufacturing ESG and Sustainability report, by category, include:

Environmental

• Stratasys reduced water intensity by 32.5 percent across global operations, leading to an overall reduction in water usage by the company.
• Solar panels installed at Israeli facilities generated 441,339 kWh of renewable energy, which contributed to 207 metric tons of reduced CO2 emissions, or the equivalent of planting 3,423 trees
• Double digit (11.3 percent) increases in the number of spools, cartridges and canisters recycled through a new recycling program.

Social

• More than 38,000 hours of employee training were provided, equaling 18 hours of training per employee.
• Approaching world-class status with employee engagement, with a 78 percent participation rate in the last all-employee survey, with an all-time high engagement score of 73.
• 81 percent of managers participated in management training.
• 4 diversity KPIs were set in 2022, focusing on hiring practices. Targets were:
• 100 percent of candidate slates for manager and above will have a diverse slate
• 35 percent of management hires will be women
• 25 percent of tech hires will be women
• 40 percent of intern/student hires to reflect a range of ethnicity and gender diversity.

Governance

• 100 percent of new suppliers in 2021 and 2022 signed the Supplier Code of Conduct, which includes environmental, social and ethical standards.
• More than 97% of all employees completed compliance training.
• No product-related health and safety incidents of non-compliance occurred in 2021 or 2022.

Archroma and ColorDigital GmbH, a company in textile supply chain digitalization, are joining forces to bring the library of engineered color standards to the DMIx ecosystem of fashion brands and suppliers.

All 5,760 color references in the Color Atlas by Archroma® will be integrated into ColorDigital’s DMIx interactive collaboration platform, enabling brands to embrace almost unlimited color creativity with an assurance of color precision. Based on digital twin technology, the DMIx solution ensures that color choices are aligned across design, sourcing and production, reducing sampling costs and collection development time as well as improving color accuracy and end-product quality. DMIx marks a significant step forward in enhancing color management processes for both digital product creation (DPC) and physical production.

Sustainability is an essential factor for both Archroma and DMIx. Colors in the Archroma Color Atlas are formulated to comply with leading eco-standards while also delivering consistent and accurate color reproduction. This complements the DMIx ImpAct approach, which provides data on the environmental impact of raw materials to enable brands to select inputs that meet their sustainability targets.

A new feature on the DMIx platform is DMIx eXcite, an inspirational material and color-trend hub that uses interactive moodboards to share new color and material scenarios ahead of each season. Designers and colorists will be able to directly use colors presented in the eXcite trend reports, including colors from the Color Atlas by Archroma®, across the DMIx color and 3D technology tools.

Archroma will introduce its new Super Systems+ concept and highlight product innovations at Techtextil 2024, being held in Frankfurt, Germany from April 23 to 26.

A highlight of Archroma’s participation in Techtextil, Super Systems+ are powerful end-to-end systems that combine fiber-specific processing solutions and intelligent effects. The Super Systems+ suite encompasses wet processing solutions that deliver measurable environmental impact from sizing to finishing; durable colors and functional effects that add value and longevity to the end product; and cleaner chemistries that eliminate harmful or regulated substances.

For textile partners to the automotive industry, Archroma is introducing DOROSPERS® KHF, a new range of high-lightfast disperse dyes that provide optimum build up on polyester microfiber, including artificial suede for car interiors.

For nonwoven applications in fields such as healthcare, hygiene and filtration, Archroma recommends APPRETAN® FFX6750, a new addition to its range of high-performance zero-formaldehyde acrylic copolymers, and APPRETAN® FFX1540.

APPRETAN® FFX1540 is a new APEO free and formaldehyde free self-crosslinking polymer, medium soft with very low tackiness, and strongly hydrophobic, developed for the chemical bonding of nonwovens and for the coating of technical textiles, where low water absorption and high-water tightness are required, combined with high durability in severe environment.

For workwear and uniforms that protect people under adverse conditions, Archroma solutions include HELIZARIN® ULTRA-FAST, for printing with pigment dispersions and metallic pigments, and the new ALBAFIX® ECO Plus wet fastness improver. Archroma’s PFC-free PHOBOTEX® R-ACE durable water repellent delivers excellent water repellence while preserving fabric quality and ensuring sustainability. Archroma has also expanded the revolutionary AVITERA® SE GENERATION NEXT range of resource-saving dyes with new colors.

Further solutions for active wear and workwear include the newly launched bio-based PHOBOTEX® NTR-50 durable water repellent product, which is PFAS free, formaldehyde free and crosslinker free, as well NYLOFIXAN® HFS, a new fixing agent for polyamide and blends that is fully compliant with the latest restrictions on bisphenol compounds.

Archroma is also launching ARKOPHOB® NTR-40 at Techtextil 2024. The company’s first crosslinker with an improved sustainability profile, its monomers are partially derived from renewably sourced, plant-based raw materials. Another new innovation is biocide-free OX20, an odor-neutralizing technology launched by Archroma in partnership with SANITIZED AG.

For home textiles, mills and brands can select ARKOFIX® NZW formaldehyde-free* resin for high whiteness and extraordinary product stability, with no yellowing during storage at elevated temperatures, even over a prolonged period of time. For a super-soft handle, the SILIGEN® EH1 is a vegan silicone macro-emulsion softener with 35% plant-based active content.

Kornit Digital LTD. will display its digital fabric and integrated workflow portfolio at Texprocess 2024, being held April 23-26.

Kornit Digital will feature a view into the end-to-end, fabric manufacturing ecosystem – allowing for production of any fabric and any design for any purpose. The centerpiece is Kornit Presto MAX, transforming the digital world of fabric printing with an ability to print on any fabric type – from cotton and polyester to denim and leather. Built on the promise of sustainability, Presto MAX reduces both water usage and waste. The system is the world’s first offering to print white ink on colored fabrics alongside neon to extend the color gamut by as much as 30 percent. Kornit’s new Vivido inks additionally offers dark black pigments.

Additionally featured is the KornitX Global Fulfillment Network, a solution designed to optimize operational efficiency, eliminate supply chain bottlenecks, and ensure products are readily available to meet customer demands. The solution connects brands, retailers, and digital platforms to a high-quality production network – providing rapid replenishment and trend adaptability for direct-to-fabric production. Pixel-to-parcel monitoring and control fully integrates the end-to-end production workflow for a seamless experience. The solution based on Kornit’s MAX technology enables brands to maximize margins, boost profitability, and pave the way for a sustainable future in the digital on-demand fashion and textile industry.

Beyond technology demonstrations, Kornit will additionally highlight how MAX technology serves as a vibrant partner platform to drive possibilities across the entire fabric printing and processing chain. Key partners highlighted include:

• Colortex: Providing fashionable, custom textiles for the footwear industry.
• ZwissTex: Offering quality, sustainable textile solutions for the automotive and clothing sectors.
• Print Logistic: Delivering a full range of services - from printing to worldwide drop-shipping for smooth e-commerce integration.
• CGS: Driving global performance through business applications, enterprise learning and outsourcing services.
• FastSwen: Leveraging Moving Cavity Technology (MCT) to transform textile handling and production efficiency.
• Premier Digital Textiles: Serving as the prime supplier of textiles with extensive warehousing across the US and UK.
• Greentex: Providing highly sustainable, innovative, and customizable fabrics for advanced textile printing.

Barry-Wehmiller announces the appointment of George Berg as the Vice President of Global Supply Chain. In this new role, Berg will lead and develop a team to serve as the primary contact between Barry-Wehmiller and its suppliers throughout the world.

Under Berg’s leadership, the Enterprise Supply Chain team will establish formal guidelines that govern business transactions with Barry-Wehmiller and outline clear expectations for suppliers. Specifically, they will set global procurement policies and establish global preferred suppliers to deliver greater value to customers.
This reorganization streamlines operations across the spectrum of Barry-Wehmiller companies and provides suppliers with more opportunities as they deliver savings, support innovation, increase quality and reduce lead times.

Berg brings a wealth of experience in supply chain management. He joins Barry-Wehmiller from Robert Bosch, where he worked for 27 years in various supply chain, operation and finance roles. His most recent role was Vice President of Logistics and Supply Chain for the $1.6 billion automotive aftermarket division, where he led all supply chain functions, including planning, warehousing, transportation and foreign trade. Before that, he was the Chief Operating Officer of the heating, ventilation and air conditioning division. He also served as the Chief Financial Officer of the packaging division, which manufactured vertical and horizontal packaging systems for the food industry.

Jan Karnath (39), a nephew of Bernd Reifenhäuser (CEO) and Ulrich Reifenhäuser (CSO), is the first representative of the fourth generation to join the operational business of the Reifenhäuser Group. His start paves the way for the continuous development of the family business and reinforces the transformation from machine manufacturer to solution provider: As the company's first Chief Digital Officer, Karnath will henceforth be responsible for and steer the Group's digital transformation.

In his new position as Chief Digital Officer, Jan Karnath is responsible for the strategic and operational development of all Reifenhäuser units whose business model is based on digital products: The tech start-up RE: GmbH, which specializes in connecting entire production facilities, AR:DEL, Reifenhäuser's digital education and learning platform, and R-Cycle, the digital product passport for sustainable packaging. In addition, Karnath is responsible for the Group's overall digital strategy: he will continue to develop the portfolio of digital products and ensure that all relevant digital initiatives are integrated into strategic planning.

Jan Karnath has over 15 years of experience in the digital business. He studied Management in Vienna and Digital Transformation & Innovation at Stanford University. He then began his career at SAP and has since successfully led several digital companies as a board member and founder. Investors in these companies have included EQT and Porsche AG.

The Managing Board of Lenzing AG decided today to suspend the existing dividend policy of at least EUR 4.50 per share for an unlimited period of time.

Lenzing AG continues to expect higher EBITDA for the 2024 financial year compared to the previous year.