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04.08.2022

adidas with strong growth in Western markets in Q2

  • Currency-neutral sales up 4%, despite more than € 300 million negative impact from macroeconomic constraints
  • Markets representing more than 85% of the business grow 14% overall
  • Gross margin down 1.5pp to 50.3% reflecting significantly higher supply chain costs
  • Operating profit reaches € 392 million
  • Net income from continuing operations amounts to € 360 million
  • FY 2022 outlook reflects double-digit growth during the second half of the year

“Our Western markets continued to show strong momentum in the second quarter amid heightened macroeconomic uncertainty. With Asia-Pacific returning to growth, markets combined representing more than 85% of our business grew at a double-digit rate,” said adidas CEO Kasper Rorsted. “With sports back at center stage this summer, revenues in our strategic growth categories Football, Running and Outdoor all increased by double digits. However, the macroeconomic environment, particularly in China, remains challenging. The recovery in this market is – due to continued covid-19-related restrictions – slower than expected.

  • Currency-neutral sales up 4%, despite more than € 300 million negative impact from macroeconomic constraints
  • Markets representing more than 85% of the business grow 14% overall
  • Gross margin down 1.5pp to 50.3% reflecting significantly higher supply chain costs
  • Operating profit reaches € 392 million
  • Net income from continuing operations amounts to € 360 million
  • FY 2022 outlook reflects double-digit growth during the second half of the year

“Our Western markets continued to show strong momentum in the second quarter amid heightened macroeconomic uncertainty. With Asia-Pacific returning to growth, markets combined representing more than 85% of our business grew at a double-digit rate,” said adidas CEO Kasper Rorsted. “With sports back at center stage this summer, revenues in our strategic growth categories Football, Running and Outdoor all increased by double digits. However, the macroeconomic environment, particularly in China, remains challenging. The recovery in this market is – due to continued covid-19-related restrictions – slower than expected. And we have to take into account a potential slowdown in consumer spending in all other markets for the remainder of the year.”

Currency-neutral revenues increase 4% despite macroeconomic constraints
In the second quarter, currency-neutral revenues increased 4% as adidas continued to see strong momentum in Western markets. This growth was achieved despite continued challenges on both supply and demand. Supply chain constraints as a result of last year’s lockdowns in Vietnam reduced top-line growth by around € 200 million in Q2 2022. In addition, the company’s decision to suspend its operations in Russia reduced revenues by more than € 100 million during the quarter. Continued covid-19-related lockdowns in Greater China also weighed on the top-line development in Q2. From a channel perspective, the top-line increase was to a similar extent driven by the company’s own direct-to-consumer (DTC) activities as well as increases in wholesale. Within DTC, e-commerce, which now represents more than 20% of the company’s total business, showed double-digit growth reflecting strong product sell-through. From a category perspective, revenue development was strongest in the company’s strategic growth categories Football, Running and Outdoor, which all grew at strong double-digit rates. In euro terms, revenues grew 10% to € 5.596 billion in the second quarter (2021: € 5.077 billion).

Strong demand in Western markets
Revenue growth in the second quarter was driven by Western markets despite last year’s lockdowns in Vietnam still reducing sales, particularly in EMEA and North America, by
€ 200 million in total. In addition, the top-line development in EMEA was also impacted by the loss of revenue in Russia/CIS of more than € 100 million. Nevertheless, currency-neutral sales grew 7% in the region. Revenues in North America increased 21% during the quarter driven by growth of more than 20% in both DTC and wholesale. Revenues in Latin America increased 37%, while Asia-Pacific returned to growth. Currency-neutral revenues increased 3% in this market despite still being impacted by limited tourism activity in the region. In contrast, the company continued to face a challenging market environment in Greater China, mainly related to the continued broad-based covid-19-related restrictions. As a result, currency-neutral revenues in the market declined 35% during the three-months period, in line with previous expectations. Excluding Greater China, currency-neutral revenues in the company’s other markets combined grew 14% in Q2.

Operating profit of € 392 million reflects operating margin of 7.0%
The company’s gross margin declined 1.5 percentage points to 50.3% (2021: 51.8%). Significantly higher supply chain costs and a less favorable market mix due to the significant sales decline in Greater China weighed on the gross margin development. This could only be partly offset by a higher share of full price sales, first price increases and the benefits from currency fluctuations. Other operating expenses were up 19% to € 2.501 billion (2021: € 2.107 billion). As a percentage of sales, other operating expenses increased 3.2 percentage points to 44.7% (2021: 41.5%). Marketing and point-of-sale expenses grew 8% to € 663 million (2021: € 616 million). The company continued to prioritize investments into the launch of new products such as adidas’ new Sportswear collection, the next iteration of its successful Supernova running franchise and first drops related to the Gucci collaboration as well as campaigns around major events like ‘Run for the Oceans.’ As a percentage of sales, marketing and point-of-sale expenses were down 0.3 percentage points to 11.8% (2021: 12.1%). Operating overhead expenses increased by 23% to a level of € 1.838 billion (2021:
€ 1.492 billion). This increase was driven by adidas’ continuous investments into DTC, its digital capabilities and the company’s logistics infrastructure as well as by unfavorable currency fluctuations. As a percentage of sales, operating overhead expenses increased 3.5 percentage points to 32.8% (2021: 29.4%). The company’s operating profit reached a level of € 392 million (2021: € 543 million), resulting in an operating margin of 7.0% (2021: 10.7%).

Net income from continuing operations reaches € 360 million
The company’s net income from continuing operations slightly declined to € 360 million (2021: € 387 million). This result was supported by a one-time tax benefit of more than € 100 million due to the reversal of a prior year provision. Consequently, basic EPS from continuing operations reached € 1.88 (2021: € 1.93) during the quarter.

Currency-neutral revenues on prior year level in the first half of 2022
In the first half of 2022, currency-neutral revenues were flat versus the prior year period. In euro terms, revenues grew 5% to € 10.897 billion in the first six months of 2022 (2021:
€ 10.345 billion). The company’s gross margin declined 1.7 percentage points to 50.1% (2021: 51.8%) during the first half of the year. While price increases as well as positive exchange rate effects benefited the gross margin, these developments were more than offset by the less favorable market mix and significantly higher supply chain costs. Other operating expenses increased to € 4.759 billion (2021: € 4.154 billion) in the first half of the year and were up 3.5 percentage points to 43.7% (2021: 40.2%) as a percentage of sales. adidas generated an operating profit of € 828 million (2021: € 1.248 billion) during the first six months of the year, resulting in an operating margin of 7.6% (2021: 12.1%). Net income from continuing operations reached € 671 million, reflecting a decline of € 219 million compared to the prior year level (2021: € 890 million). Accordingly, basic earnings per share from continuing operations declined to € 3.47 (2021: € 4.52).

Average operating working capital as a percentage of sales slightly decreases
Inventories increased 35% to € 5.483 billion (2021: € 4.054 billion) at June 30, 2022 in anticipation of strong revenue growth during the second half of the year. Longer lead times as well as the challenging market environment in Greater China also contributed to the increase. On a currency-neutral basis, inventories were up 28%. Operating working capital increased 23% to € 5.191 billion (2021: € 4.213 billion). On a currency-neutral basis, operating working capital was up 14%. Average operating working capital as a percentage of sales decreased 0.4 percentage points to 21.0% (2021: 21.4%), reflecting an overproportional increase in accounts payable due to higher sourcing volumes and product costs.

Adjusted net borrowings at € 5.301 billion
Adjusted net borrowings amounted to € 5.301 billion at June 30, 2022, representing a year-over-year increase of € 2.155 billion (June 30, 2021: € 3.146 billion). This development was mainly due to the significant decrease in cash and cash equivalents.

FY 2022 outlook reflects double-digit growth during the second half of the year
On July 26, adidas adjusted its guidance for FY 2022 due to the slower-than-expected recovery in Greater China since the start of the third quarter resulting from continued widespread covid-19-related restrictions. 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% to 13% range), reflecting a double-digit decline in Greater China (previously: significant decline). While 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 market other than Greater China, the adjusted guidance also accounts for a potential slowdown of consumer spending in those markets during the second half of the year as a result of the more challenging macroeconomic conditions. Therefore, growth in EMEA is now expected to be in the low teens (previously: mid-teens growth), while revenues in Asia-Pacific are projected to grow at a high-single-digit rate (previously: mid-teens growth). Despite the more conservative view on the development of consumer spending in the second half of the year, adidas has increased its forecasts for North America and Latin America reflecting the strong momentum the brand is enjoying in these markets. In North America, currency-neutral revenues are now expected to increase in the high teens. Sales in Latin America are projected to grow between 30% and 40% (both previously: mid- to high-teens growth).   

Due to the less favorable market mix and the impacts from initiatives to clear excess inventories in Greater China until the end of the year, gross margin is now expected to reach a level of around 49.0% (previously: around 50.7%) in 2022. Consequently, the company’s operating margin is now forecast to be around 7.0% (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 to € 1.9 billion range).

More information:
adidas financial year 2022
Source:

adidas

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

15.07.2022

ANDRITZ at CINTE 2022 in China

ANDRITZ will be presenting its innovative nonwovens production solutions at CINTE 2022 in Shanghai, China (September 6–8). ANDRITZ will show its broad product portfolio covering state-of-the-art nonwovens and textile production technologies such as air-through bonding, airlay, needlepunch, spunlace, spunbond, wetlaid/WetlaceTM, converting, textile finishing, recycling, and natural fiber processing.

SUSTAINABILITY IS KEY
ANDRITZ supports nonwovens producers in the move to sustainability with the aim of reducing or eliminating plastic components while maintaining the high quality of the desired product properties. This applies to all types of sustainable wipes, such as flushable, biodegradable, bio-sourced, carded pulp or standard carded wipes. The latest development in this field is the ANDRITZ neXline wetlace CP line, which integrates the carded-pulp (CP) process. This is a fully engineered production line combining the benefits of drylaid and wetlaid technologies to produce a new generation of biodegradable wipes.

ANDRITZ will be presenting its innovative nonwovens production solutions at CINTE 2022 in Shanghai, China (September 6–8). ANDRITZ will show its broad product portfolio covering state-of-the-art nonwovens and textile production technologies such as air-through bonding, airlay, needlepunch, spunlace, spunbond, wetlaid/WetlaceTM, converting, textile finishing, recycling, and natural fiber processing.

SUSTAINABILITY IS KEY
ANDRITZ supports nonwovens producers in the move to sustainability with the aim of reducing or eliminating plastic components while maintaining the high quality of the desired product properties. This applies to all types of sustainable wipes, such as flushable, biodegradable, bio-sourced, carded pulp or standard carded wipes. The latest development in this field is the ANDRITZ neXline wetlace CP line, which integrates the carded-pulp (CP) process. This is a fully engineered production line combining the benefits of drylaid and wetlaid technologies to produce a new generation of biodegradable wipes.

NEXLINE WETLAID AXCESS TARGETS SMALLER AND MEDIUM PRODUCTION VOLUMES
The neXline wetlaid aXcess targets smaller and medium production volumes and has been devised for new and existing lines. The compact line provides an entrance to the growing wetlaid market, with a variety of final applications and options.

ANDRITZ AXCESS DEVELOPED FOR MEDIUM CAPACITIES IN WUXI, CHINA
The aXcess range was specially developed at ANDRITZ (China) Ltd. Wuxi Branch to handle medium capacities. The facility in Wuxi has an experienced platform for production and service specially geared to serve the Asian nonwovens industry. It designs and manufactures cutting-edge lines to complement the ANDRITZ aXcess product range, which includes complete lines and individual machines for air-through bonding, needlepunch and spunlace processes. With the aXcess range, ANDRITZ has developed a hybrid line combining European and Chinese machines, which is the ideal combination to obtain the best added value from each component in the line and be very flexible to accommodate different business cases.

The service organization was set up to provide prompt delivery and excellent customer support, even during the COVID-19 pandemic. A team of technicians and process experts can be deployed quickly to customer sites requiring full-range assistance. The ANDRITZ facilities include a roll service center with state of-the-art grinding equipment and a test stand for various types of rolls.

In addition, our aXcess range manufactured in Europe also offers technologies for spunlaid and wetlaid processes. Increasing production speeds and widths, compact and reliable design, and affordable investment costs are what customers look for in a competitive market environment. To meet these requirements ideally, we recently enhanced our nonwoven calender and dryer ranges.

15.06.2022

Autoneum updates its outlook for 2022 as a result of the Ukraine war

Due to the impact of the war in Ukraine on the automotive industry and vehicle production as well as of rising inflation, Autoneum is adjusting its corporate outlook for the 2022 financial year. The market recovery will be delayed by current developments.

Since the outbreak of war in Ukraine, new bottlenecks in global supply and logistics chains have been impacting vehicle manufacturer production volumes and thus slowing the revenue and earnings development of the automotive supply industry, especially in Europe. Current developments are accompanied by accelerated inflation and significant price increases on the commodities markets, which have been further exacerbated by the war. These are felt at Autoneum through rising material, energy and transport costs. With regard to the rising costs, automotive manufacturers and suppliers are now required to ensure a fair burden sharing as partners.

Due to the impact of the war in Ukraine on the automotive industry and vehicle production as well as of rising inflation, Autoneum is adjusting its corporate outlook for the 2022 financial year. The market recovery will be delayed by current developments.

Since the outbreak of war in Ukraine, new bottlenecks in global supply and logistics chains have been impacting vehicle manufacturer production volumes and thus slowing the revenue and earnings development of the automotive supply industry, especially in Europe. Current developments are accompanied by accelerated inflation and significant price increases on the commodities markets, which have been further exacerbated by the war. These are felt at Autoneum through rising material, energy and transport costs. With regard to the rising costs, automotive manufacturers and suppliers are now required to ensure a fair burden sharing as partners.

In addition, renewed coronavirus-related lockdowns in China are delaying growth in Asia. According to the revised market forecasts1), global automobile production is expected to reach 80.4 million units in 2022, which represents an increase of 4.1% compared to 2021. Growth will thus be significantly lower than was still expected in mid-February.

Autoneum will do its utmost to minimize the impact on the Group. Despite the present challenges, the strategy will continue to be consistently implemented with a focus on innovative and sustainable technologies for growing markets of the future.

Based on current developments and knowledge, Autoneum has updated the forecasts that it presented at the Media Conference, which had not yet included the impacts of the war as outlined above. Autoneum continues to expect revenue to develop in line with the market. For the first half of the year, the Company expects an EBIT margin at break-even level. On the basis of the ongoing collaborative discussions with customers to participate in the sharing of the sharply increased energy and material costs, Autoneum anticipates an improvement in the EBIT margin to 2.0 to 3.0% (previously: 4.0 to 5.0%) for the full year 2022. Free cash flow for 2022 is expected to be in the mid to high double-digit million range.

Autoneum is very well positioned for the transformation of the automotive industry towards e-mobility and sustainability. Our product portfolio is suitable for all drive types, whether internal combustion, hybrid or pure electric vehicles. The medium-term forecasts that Autoneum published in November 2021 remain unchanged positive. The timing of the market recovery will be delayed by current events and will also depend on further geopolitical developments.

Source:

Autoneum Management AG

(c) Borealis
10.06.2022

Borealis-Strategy 2030: Sustainability in the centre

  • Strategy and purpose affirm Borealis Group vision to be a global leader in advanced and sustainable chemicals and material solutions
  • Sustainability at the centre of all activities, supporting OMV Group’s ambition for a net zero business by 2050
  • Strong foundation supports continued geographic expansion with enhanced focus on Middle East and Asia, North America

Borealis announces the introduction of the Borealis Strategy 2030. At the core of this strategic evolution is sustainability, which is supported by the Borealis foundation of dedication to safety first, its people, innovation and technology, and performance excellence. This foundation powers continued geographic expansion and the ongoing transformation towards the circular economy. The strategy stipulates new and more ambitious sustainability targets with regard to greenhouse gas (GHG) emissions reductions, energy consumption, and the circular economy. Underlying the Borealis Strategy 2030 is an evolved purpose, “Re-inventing Essentials for Sustainable Living,” whose intent and spirit is shared across the OMV Group.*

  • Strategy and purpose affirm Borealis Group vision to be a global leader in advanced and sustainable chemicals and material solutions
  • Sustainability at the centre of all activities, supporting OMV Group’s ambition for a net zero business by 2050
  • Strong foundation supports continued geographic expansion with enhanced focus on Middle East and Asia, North America

Borealis announces the introduction of the Borealis Strategy 2030. At the core of this strategic evolution is sustainability, which is supported by the Borealis foundation of dedication to safety first, its people, innovation and technology, and performance excellence. This foundation powers continued geographic expansion and the ongoing transformation towards the circular economy. The strategy stipulates new and more ambitious sustainability targets with regard to greenhouse gas (GHG) emissions reductions, energy consumption, and the circular economy. Underlying the Borealis Strategy 2030 is an evolved purpose, “Re-inventing Essentials for Sustainable Living,” whose intent and spirit is shared across the OMV Group.*

* See attached document for more information.

Source:

Borealis / ikp

(c) Messe Frankfurt (HK) Ltd.
17.05.2022

Cinte Techtextil China to address personal hygiene and sustainability demands

With global consumers becoming more conscious about personal hygiene and environmental protection, exhibitors at Cinte Techtexil China will spotlight materials and technologies for products that respond to these trends. The fair will probe into the associated growth opportunities as the country is one of the leading markets for nonwovens and technical textiles. The event will be held from 6 – 8 September at the Shanghai New International Expo Centre.

The technical textiles and nonwovens industries, the latter notably, are significantly expanding amid the pandemic. A recent forecast[1] predicts that the global polypropylene nonwoven fabric market will continue to rise at a CAGR of 6.7%, reaching USD 39.23 billion by 2028. The anticipated growth is bolstered by demands in end-use industries such as sanitation, medical, automotive and more. In 2020, Asia Pacific was named the largest regional market in the world and is expected to grow significantly over the forecasted period.

With global consumers becoming more conscious about personal hygiene and environmental protection, exhibitors at Cinte Techtexil China will spotlight materials and technologies for products that respond to these trends. The fair will probe into the associated growth opportunities as the country is one of the leading markets for nonwovens and technical textiles. The event will be held from 6 – 8 September at the Shanghai New International Expo Centre.

The technical textiles and nonwovens industries, the latter notably, are significantly expanding amid the pandemic. A recent forecast[1] predicts that the global polypropylene nonwoven fabric market will continue to rise at a CAGR of 6.7%, reaching USD 39.23 billion by 2028. The anticipated growth is bolstered by demands in end-use industries such as sanitation, medical, automotive and more. In 2020, Asia Pacific was named the largest regional market in the world and is expected to grow significantly over the forecasted period.

The prediction reaffirms the growth prospects of nonwovens. In this regard, industry players expressed much optimism about associated future opportunities during Cinte Techtextil China last year. “The field of nonwovens is poised for a positive growth as the awareness of personal hygiene and pandemic prevention sustains in the domestic market,” commented Mr James Gao, Head of Marketing and Textile Technologies, Uster Technologies (China) Co Ltd. He added: “We decided to join the fair and showcase our new launches as we remain confident in the future development of the industry, especially since China is dominating the global scene.”

Going green is the way forward
Turning to yarns and fibres, the sector is shifting to greener and smarter production that echoes the trend towards sustainability that is gaining considerable traction across the globe. Meanwhile in China, this movement was observed by many exhibitors at the 2021 edition, including Mr Roberto Galante, Plant Manager of FMMG Technical Textiles (Suzhou) Co Ltd, the Chinese subsidiary of the Fil Man Made Group. He mentioned: “The market is paying more attention to environmental protection, and we receive enquiries about special yarns for this every day. We focus on technical yarns for filtration as well as anti-bacterial properties, which are very important for the environment. The potential here in China is incredible and this is a big opportunity for everybody.”

Cinte Techtextil China’s product categories cover 12 application areas, which comprehensively span across a full range of potential uses in modern technical textiles and nonwovens. These categories also cover the entire industry, from upstream technology and raw material 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.

12.05.2022

JEC World 2022 shows the dynamism of the composites industry

The global composites community reunited at JEC WORLD 2022 on May 3rd to 5th for three days of innovation, networking and knowledge sharing. The industry was excited to reconnect in Paris after three years and the show exceeded all expectations in terms of product launches, content, business activity and attendance. Overall, the event welcomed 32,000+ professional visits, in Paris and online, from more than 115 countries and featured 1,201 exhibitors and 26 pavilions, whilst the JEC World Connect platform offered an additional way to explore the show this year.

The global composites community reunited at JEC WORLD 2022 on May 3rd to 5th for three days of innovation, networking and knowledge sharing. The industry was excited to reconnect in Paris after three years and the show exceeded all expectations in terms of product launches, content, business activity and attendance. Overall, the event welcomed 32,000+ professional visits, in Paris and online, from more than 115 countries and featured 1,201 exhibitors and 26 pavilions, whilst the JEC World Connect platform offered an additional way to explore the show this year.

While fewer Asian participants were able to join the show this year due to travel complexities, the attendance of a high level of decision makers from 117 countries and all key players along the value chain resulted in a dynamic environment for networking and business. As a consequence, companies were keen to confirm their presence next year; by the time the show closed its doors, 50% of JEC World 2023 exhibition space had already been booked.  Exhibitors and attendees have expressed very positive feedback about the quality of the exhibition and such a successful come-back of JEC World as the pinnacle event of the industry.

Innovations at JEC World
With more than 500 product launches during this year’s show, JEC World remains a popular venue to introduce new products to the global market.

The JEC Composites Innovation Awards celebrated 10 collaborative projects, reflecting the dynamism and the resilience of our industry, and two Innovation Planets displayed 80 impressive applications.

Celebrating its five-year anniversary, the JEC Composites Startup Booster competition is now established to discover startups in the advanced composites sector.

JEC World contributing to a more sustainable world
JEC World’s conference program shone a light on this year’s theme and most impactful topic: Composites for a Sustainable World. Sustainability continues to rise as a key growth driver for the composites industry, enabling diverse application sectors to achieve ambitious sustainability goals, from energy and transportation, to building and infrastructure, and so many more. JEC World highlighted how the growing application of composites will open up exciting new horizons for human activities, improving people’s lives and leading to a better, more sustainable world.

International community
Three Country on Stage presentations showcased the structure and strengths of the composites industries of South Korea, the Netherlands and the United States. The program featured keynote presentations and business cases which demonstrate the countries’ composites expertise  in hydrogen, in sustainable excellence, and innovation in building and mobility, respectively.

Ministers, ambassadors and official representatives from 16 countries also visited the show as part of dedicated official delegation tours from the United States, Turkey, Hungary, Taiwan, Portugal, Croatia, the Netherlands, the United Kingdom, North Macedonia, Germany, Slovakia, Luxembourg, Belgium, Sweden and Spain.

Thus, JEC World was the opportunity for government representatives to meet the leading composites actors of their respective regions or markets and show their support. Official inaugurations also took place on the Dutch, American and British pavilions.

(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

05.05.2022

adidas und Foot Locker, Inc. announce partnership for sports community and sneaker culture

adidas AG and Foot Locker, Inc. announced a new and enhanced partnership built around product innovation, elevated experiences, and deeper consumer connectivity. This enhanced relationship will establish Foot Locker as the lead partner for adidas in the basketball category, accelerate energy and hype launches, as well as include the development and expansion of key franchises across women’s, kids, and apparel. Including all Foot Locker banners in North America, EMEA, and Asia-Pacific, the new strategic partnership will target over $2 billion in retail sales by 2025, nearly tripling levels from 2021. In 2022, adidas expects to generate incremental revenues of up to €100 million as a result of the new partnership.  

adidas AG and Foot Locker, Inc. announced a new and enhanced partnership built around product innovation, elevated experiences, and deeper consumer connectivity. This enhanced relationship will establish Foot Locker as the lead partner for adidas in the basketball category, accelerate energy and hype launches, as well as include the development and expansion of key franchises across women’s, kids, and apparel. Including all Foot Locker banners in North America, EMEA, and Asia-Pacific, the new strategic partnership will target over $2 billion in retail sales by 2025, nearly tripling levels from 2021. In 2022, adidas expects to generate incremental revenues of up to €100 million as a result of the new partnership.  

Foot Locker will lead adidas' basketball offering, led by Fear of God founder and designer Jerry Lorenzo, spanning the lifestyle and performance categories, and develop exclusive positions in both areas. In addition, the collaboration will focus on key Originals franchises including NMD, Superstar and Stan Smith, and on the adidas influencer partnership portfolio. It will also include a prominent role for Foot Locker in the launch of adidas’ new Sportswear product division targeting the lifestyle consumer.

To execute the new plan, adidas will provide Foot Locker with a dedicated team to deliver an elevated consumer experience both in stores and online to help create demand and elevate the marketplace. This will involve partnership on product development, exclusive Foot Locker positioning, increased product allocations, shared marketing spend, and an elevated premium presence across Foot Locker’s entire portfolio of banners with a special focus on key cities and communities that the companies jointly serve. Lastly, to provide consumers with a seamless consumer journey, on and offline, both partners will increase their digital focus and accelerate the rollout of the adidas partner program at Foot Locker.

Source:

adidas AG

(c) Hologenix, LLC
11.04.2022

Hologenix® receives recognition for pure white CELLIANT

Hologenix® announces that its newest innovation has achieved two recognitions. In addition to being a Top Ten winner in the Fibers & Insulation Category of ISPO Textrends Fall/Winter 2023/24, pure white CELLIANT has been shortlisted in the Drapers Sustainable Fashion 2022 Awards. The company is sharing the spotlight with recognized brands such as H&M, Sweaty Betty and Timberland. According to Drapers, the leading authority on fashion retailing in the UK since 1887, which sponsors these awards annually, this year they received the most entries ever, making them very competitive.

To create pure white CELLIANT rPET fiber, Hologenix developed a strategic partnership with the Ireland-based Wellman International Limited, a fully owned subsidiary of Indorama Ventures. Indorama Ventures is investing $1.5 billion on sustainability initiatives, allowing them to recycle 50 billion PET bottles globally by 2025 to support the growth of the circular economy. Wellman International has been a pioneer of recycling technologies for almost 50 years, offering specialist solutions for the medical, hygiene, automotive, home care and apparel sectors.  

Hologenix® announces that its newest innovation has achieved two recognitions. In addition to being a Top Ten winner in the Fibers & Insulation Category of ISPO Textrends Fall/Winter 2023/24, pure white CELLIANT has been shortlisted in the Drapers Sustainable Fashion 2022 Awards. The company is sharing the spotlight with recognized brands such as H&M, Sweaty Betty and Timberland. According to Drapers, the leading authority on fashion retailing in the UK since 1887, which sponsors these awards annually, this year they received the most entries ever, making them very competitive.

To create pure white CELLIANT rPET fiber, Hologenix developed a strategic partnership with the Ireland-based Wellman International Limited, a fully owned subsidiary of Indorama Ventures. Indorama Ventures is investing $1.5 billion on sustainability initiatives, allowing them to recycle 50 billion PET bottles globally by 2025 to support the growth of the circular economy. Wellman International has been a pioneer of recycling technologies for almost 50 years, offering specialist solutions for the medical, hygiene, automotive, home care and apparel sectors.  

Pure white CELLIANT rPET fiber is sustainably manufactured, with a low-impact supply chain. It is achieved by embedding bioceramic materials, that are naturally derived and ethically sourced, into fibers, yarns and fabrics. Wellman International has converted 100% of pure white CELLIANT Polyester production into rPET. This conversion to rPET has been implemented across all CELLIANT product categories, replacing traditional polyester and dramatically enhancing CELLIANT’s sustainability initiatives.

Pure white CELLIANT is recognized as a Class 1 medical device in the European Union and is able to carry the CE mark. Like CELLIANT, pure white CELLIANT captures and converts body heat into infrared energy, powering bio-responsive textiles. This energy is reflected back to the body, resulting in increased local circulation and cellular oxygenation. These advantages have a variety of wellness benefits, including stronger performance, faster recovery and better sleep, as well as many functional properties such as thermoregulation, quick-dry properties and odor inhibition.  

Wellman International distributes pure white CELLIANT fibers across Europe, the Middle East, Africa, Asia and the USA.

Source:

Hologenix, LLC / Sarah P. Fletcher Communications

(c) EREMA Group GmbH
17.03.2022

EREMA: Working together with Recycling Company Anviplas

The Spanish recycling company Anviplas has been involved in plastics recycling for more than 30 years, during which time it has built up extensive know-how that now benefits customers throughout Europe, in Africa and in Asia. Their cooperation with EREMA is almost as long. Since 1991, Anviplas has relied on the technology and service provided by the Austrian recycling machine manufacturer.

The Spanish recycling company Anviplas has been involved in plastics recycling for more than 30 years, during which time it has built up extensive know-how that now benefits customers throughout Europe, in Africa and in Asia. Their cooperation with EREMA is almost as long. Since 1991, Anviplas has relied on the technology and service provided by the Austrian recycling machine manufacturer.

Employing 64 people, Anviplas recycles post-industrial and post-consumer plastic waste, especially HD and LD-PE as well as PP, to make recycled pellets in all colour variations. The production capacity is 1,800 tonnes per month. An EREMA type INTAREMA® 1716 TVEplus® recycling machine with screen changer is in operation at the site in Navarcles (Barcelona) for processing the PP material stream. This patented extruder system was developed for handling difficult-to-process materials, such as heavily printed films as well as very moist waste. This machine is characterised by its optimised 3-stage degassing system; firstly by preheating and predrying the material in the preconditioning unit, secondly because the screw design allows reverse degassing, and thirdly in the degassing zone of the extruder.

Anviplas customers manufacture a huge bandwidth of products made using their recycled pellets. They range from various film products, such as stretch, shrink, mulch and silage films, to irrigation, corrugated and high-pressure pipes, as well as containers such as tubs, bottles, barrels and crates.

In February 2022 the Repeats Group, a pan-European platform for LDPE recycling, and Anviplas announced, that Repeats has made an investment in the Spanish recycling company. For Repeats this investment in Anviplas represents an important step in building a pan-European plastics recycling platform.

More information:
EREMA Recycling plastics Anviplas
Source:

EREMA Group GmbH

(c) JEC Group
15.03.2022

The JEC Composites Startup Booster celebrates its 5th anniversary

The JEC Composites Startup Booster rewards innovations with a great potential market impact and promote them to an influential audience of decision-makers. In 5 years, it became a reference for entrepreneurship in the composites industry worldwide, shining a light, each year, on 20 finalists from all over the world, giving them the opportunity to pitch their project on JEC World’ stage before a panel of expert judges.

The competition has been organized in three different regions (Europe, USA and Asia) and has already fostered the emergence of 600+ innovative projects from 50+ countries, 80 finalists and 30 winners, including Arevo, Continuous Composites, ComPair, Fortify and Vartega.

Five former winners or finalists share their experience in a series of interviews available on JEC Web TV.

The JEC Composites Startup Booster rewards innovations with a great potential market impact and promote them to an influential audience of decision-makers. In 5 years, it became a reference for entrepreneurship in the composites industry worldwide, shining a light, each year, on 20 finalists from all over the world, giving them the opportunity to pitch their project on JEC World’ stage before a panel of expert judges.

The competition has been organized in three different regions (Europe, USA and Asia) and has already fostered the emergence of 600+ innovative projects from 50+ countries, 80 finalists and 30 winners, including Arevo, Continuous Composites, ComPair, Fortify and Vartega.

Five former winners or finalists share their experience in a series of interviews available on JEC Web TV.

Source:

JEC Group

03.03.2022

Lenzing opens lyocell plant in Thailand

  • Project delivered on schedule and at budget after two and a half years of construction despite challenges arising from a global pandemic
  • New state-of-the-art lyocell plant with a capacity of 100,000 tons will help serve the growing demand for sustainably produced fibers
  • Important milestone towards a carbon-free future has been set

The Lenzing Group is pleased to announce the completion of its key lyocell expansion project in Thailand. The new plant, one of the largest of its kind in the world with a nameplate capacity of 100,000 tons per year, started production on schedule and will help to even better meet the increasing customer demand for TENCEL™ branded lyocell fibers. For Lenzing, the project also represents an important step towards strengthening its leadership position in the specialty fiber market and into a carbon-free future.

  • Project delivered on schedule and at budget after two and a half years of construction despite challenges arising from a global pandemic
  • New state-of-the-art lyocell plant with a capacity of 100,000 tons will help serve the growing demand for sustainably produced fibers
  • Important milestone towards a carbon-free future has been set

The Lenzing Group is pleased to announce the completion of its key lyocell expansion project in Thailand. The new plant, one of the largest of its kind in the world with a nameplate capacity of 100,000 tons per year, started production on schedule and will help to even better meet the increasing customer demand for TENCEL™ branded lyocell fibers. For Lenzing, the project also represents an important step towards strengthening its leadership position in the specialty fiber market and into a carbon-free future.

The construction of the plant located at Industrial Park 304 in Prachinburi, around 150 kilometers northeast of Bangkok, started in the second half of 2019 and proceeded largely according to plan, despite the challenges arising from the COVID-19 pandemic. The recruiting and onboarding of new employees has been successful. Investments (CAPEX) amounted to approx. EUR 400 mn.

“The demand for our wood-based, biodegradable specialty fibers under the TENCEL™, LENZING™ ECOVERO™ and VEOCEL™ brands is growing very well. In Asia in particular, we see huge growth potential for our brands based on sustainable innovation. With the production start of the lyocell plant in Thailand, Lenzing reached an important milestone in its growth journey, supporting our ambitious goal to make the textile and nonwoven industries more sustainable”, said Robert van de Kerkhof, Member of the Managing Board.

In 2019, Lenzing made a strategic commitment to reducing its greenhouse gas emissions per ton of product by 50 percent by 2030. The target is to be climate-neutral by 2050. Due to the established infrastructure, the site in Thailand can be supplied with sustainable biogenic energy and contribute significantly to climate protection.

Together with the key project in Brazil and the substantial investments at the existing sites in Asia, Lenzing is currently implementing the largest investment program in its corporate history (with more than approx. EUR 1.5 bn). Lenzing will continue to drive the execution of its strategic projects, which are to make a significant contri-bution to earnings from 2022.

Source:

Lenzing AG

(c) INDA
25.02.2022

INDA moves IDEA® to a two-year cycle and FiltXPO™ to every 18 months

INDA, the Association of the Nonwoven Fabrics Industry, announces that IDEA® – an event for the Nonwovens & Engineered Fabrics Industry – will be held every two years instead of three starting in 2024.

The upcoming dates for IDEA® under the new schedule will be March 28-31, 2022, as currently scheduled, and then April 23-25, 2024. Both will be held as live, in-person events at the Miami Beach Convention Center in Florida.

“INDA has three key reasons for making this change in event frequency,” said Dave Rousse, INDA President.  “First, the nonwovens industry has been a vibrant, innovative sector with new products, processes and materials every year, so providing an opportunity to showcase more frequently these new developments better serves the industry. Second, one of the major nonwoven events in Asia has declared they will run each and every year, impacting the past three-year cycle of major shows in the nonwovens industry. Third, coming out of the Covid pandemic, market research predicts for the near future that regional events are expected to be better supported than global events.”

INDA, the Association of the Nonwoven Fabrics Industry, announces that IDEA® – an event for the Nonwovens & Engineered Fabrics Industry – will be held every two years instead of three starting in 2024.

The upcoming dates for IDEA® under the new schedule will be March 28-31, 2022, as currently scheduled, and then April 23-25, 2024. Both will be held as live, in-person events at the Miami Beach Convention Center in Florida.

“INDA has three key reasons for making this change in event frequency,” said Dave Rousse, INDA President.  “First, the nonwovens industry has been a vibrant, innovative sector with new products, processes and materials every year, so providing an opportunity to showcase more frequently these new developments better serves the industry. Second, one of the major nonwoven events in Asia has declared they will run each and every year, impacting the past three-year cycle of major shows in the nonwovens industry. Third, coming out of the Covid pandemic, market research predicts for the near future that regional events are expected to be better supported than global events.”

The last time IDEA® was held in 2019 it broke all attendance records. INDA expects the 2022 edition March 28-31 to attract several thousand senior-level buyers and attendees from over 60 countries and several hundred exhibitors from a myriad of industry sectors, including absorbent hygiene, wipes, filtration, medical and surgical products, personal protective equipment, home and office furnishings, transportation, geosynthetics and building construction.

More information:
INDA IDEA Filtxpo nonwovens
Source:

INDA

ANDRITZ delivers tearing line to Sasia Photo: ANDRITZ
Miguel Silva, CEO of Sasia, in front of the newly installed seven-cylinder Jumbo tearing line
15.02.2022

ANDRITZ delivers tearing line to Sasia

In January 2022, international technology group ANDRITZ successfully started up its latest-generation tearing line for spinning grade fibers delivered to Sasia at its Ribeirão premises, Portugal.

The scope of supply includes a seven-cylinder Jumbo tearing machine dedicated to spinning grade fibers. As the first of its kind in Portugal, the machine contains the latest ANDRITZ Laroche innovation for fiber opening, featuring a new-generation pinning configuration.

ANDRITZ has worked closely with Sasia for more than half a century, offering both cutting-edge solutions for recycling as well as every possible fine-tuning customization to support Sasia’s goals. Sasia’s plant now has four state-of-the-art ANDRITZ Laroche tearing lines.

A pioneer in the textile recycling industry since its foundation in 1952, Sasia is engaged in the circular economy with the aim of reducing textile waste by turning it into usable raw material again, increasing ability to compete as well as promoting innovation and sustainability.

In January 2022, international technology group ANDRITZ successfully started up its latest-generation tearing line for spinning grade fibers delivered to Sasia at its Ribeirão premises, Portugal.

The scope of supply includes a seven-cylinder Jumbo tearing machine dedicated to spinning grade fibers. As the first of its kind in Portugal, the machine contains the latest ANDRITZ Laroche innovation for fiber opening, featuring a new-generation pinning configuration.

ANDRITZ has worked closely with Sasia for more than half a century, offering both cutting-edge solutions for recycling as well as every possible fine-tuning customization to support Sasia’s goals. Sasia’s plant now has four state-of-the-art ANDRITZ Laroche tearing lines.

A pioneer in the textile recycling industry since its foundation in 1952, Sasia is engaged in the circular economy with the aim of reducing textile waste by turning it into usable raw material again, increasing ability to compete as well as promoting innovation and sustainability.

This order not only underlines ANDRITZ’s position as the leading supplier worldwide of textile recycling lines, but also highlights its ability to bring continuous improvement with sustainable solutions and versatility to its customers.

Source:

ANDRITZ AG

27.01.2022

OCA, GOTS and Textile Exchange expand GM Cotton Testing Lab Initiative

Global Organic Textile Standard (GOTS), the Organic Cotton Accelerator (OCA) and Textile Exchange are delighted to announce the renewal of the global ISO IWA 32:2019 proficiency test for a second year in a row, under technical support from Wageningen Food Safety Research.

The initiative aims to provide the sector with an up-to-date overview of global laboratories that can currently conduct GMO testing as per the ISO IWA 32:2019 protocol – a common language among laboratories worldwide to screen for the potential presence of genetically modified (GM) cotton along the organic cotton value chain.

Global Organic Textile Standard (GOTS), the Organic Cotton Accelerator (OCA) and Textile Exchange are delighted to announce the renewal of the global ISO IWA 32:2019 proficiency test for a second year in a row, under technical support from Wageningen Food Safety Research.

The initiative aims to provide the sector with an up-to-date overview of global laboratories that can currently conduct GMO testing as per the ISO IWA 32:2019 protocol – a common language among laboratories worldwide to screen for the potential presence of genetically modified (GM) cotton along the organic cotton value chain.

The joint project involving three global NGOs in the textile sector, announces that it has reached a new milestone with an expanded list of twenty-one laboratories from Europe, Asia and North America who have successfully passed a new round of the proficiency test in 2021.

As qualitative GM cotton screening using the ISO IWA 32:2019 protocol is mandatory within the GOTS and OCS (Organic Content Standard) supply chain and OCA’s Farm programme, the expanded list will provide many stakeholders in Organic Cotton with the clarity they need for taking all reasonable precautions to prevent GM cotton in their organic cotton produce while supporting the rapid sector growth seen globally.

The updated overview of the laboratories that successfully passed the proficiency test in 2021 has now been jointly published by GOTS, OCA and Textile Exchange.

The initiative now in its second year, will drive greater transparency along the organic cotton supply chain in a move that the partners hope will become a fixed bi-annual initiative stemming from the positive feedback from the initial launch in 2020.

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

(c) Messe Frankfurt (HK) Ltd.
19.01.2022

Intertextile Shanghai Home Textiles returns in August 2022

Intertextile Shanghai Home Textiles – Autumn Edition is scheduled to hold its 28th edition at the National Exhibition and Convention Center from 15 – 17 August 2022. This leading international trade fair in Asia for home and contract textiles will continue to provide an essential business platform for the industry to meet global sourcing demands. Suppliers can now apply for a booth with an early-bird discount to showcase their trending products.
 

Intertextile Shanghai Home Textiles – Autumn Edition is scheduled to hold its 28th edition at the National Exhibition and Convention Center from 15 – 17 August 2022. This leading international trade fair in Asia for home and contract textiles will continue to provide an essential business platform for the industry to meet global sourcing demands. Suppliers can now apply for a booth with an early-bird discount to showcase their trending products.
 

Ms Wendy Wen, Senior General Manager of Messe Frankfurt (HK) Ltd commented: “We were pleased that both the Spring & Autumn editions could go ahead in 2021 to provide a strong platform for exhibitors and buyers to do business and network in person during these challenging times. To allow for global participation in the show, we will continue to offer value-adding digital solutions in the coming Autumn Edition to help international participants to stay connected with their Chinese business counterparts and open up new possibilities into the growing Chinese market. Interactive webinars, live streaming product presentations, plus the featured Online Business Matching platform, will all be featured again in the hybrid fair, along with a variety of concurrent onsite events for in-person visitors.”

The August fair is preceded by the Spring Edition which will be held from 14 – 16 April. It will take place concurrently with Intertextile Shanghai Apparel Fabrics, Yarn Expo, CHIC and PH Value at the same venue.

A place for the entire home textile industry to connect
The 2021 Autumn Edition welcomed 20,106 trade buyers from 41 countries & regions and 749 exhibitors from 10 countries & regions during the three-day fair. The show also saw the return of the Belgium Pavilion, where it once again introduced a selection of high-end and premium products in its 10th consecutive year of participation.

In order to allow buyers to benefit from a time-saving and effortless sourcing experience, Intertextile Shanghai Home Textiles 2022 will once again serve as a hub for an array of home textile product categories, including:

  • Bedding, Bath, Kitchen & Table
  • Upholstery & Sofa Fabrics
  • Curtains & Curtain Fabrics
  • Carpets & Rugs
  • Wall
  • Design & Technics
  • Whole Home
  • Editors
  • Contract Business
Source:

Messe Frankfurt (HK) Ltd.

14.01.2022

Indorama Ventures wins “Best Sustainability-Linked Transaction & Best ESG-Linked Financing Deal of the Year”

Indorama Ventures Public Company Limited (IVL) was awarded “Best Sustainability-Linked Transaction & Best ESG-Linked Financing Deal of the Year” for its THB 10 billion Sustainability-Linked Bond (SLB) issued in November 2021.

The award was announced at the 15th Best Deal & Solution Awards 2021 by Alpha Southeast Asia, an institutional publication focused on investment in Southeast Asia. This recognition marks IVL's commitment to sustainable growth and ESG performance as a global leader in the chemical industry.

Yash Lohia, Chairman of ESG Council at Indorama Ventures, said, "This award reflects our long-standing commitment to sustainability and creating opportunities for investors to take part in the positive transformation of the chemical industry. This award confirms that financial markets value our ambitious sustainability and ESG efforts towards a more sustainable future.”

Indorama Ventures Public Company Limited (IVL) was awarded “Best Sustainability-Linked Transaction & Best ESG-Linked Financing Deal of the Year” for its THB 10 billion Sustainability-Linked Bond (SLB) issued in November 2021.

The award was announced at the 15th Best Deal & Solution Awards 2021 by Alpha Southeast Asia, an institutional publication focused on investment in Southeast Asia. This recognition marks IVL's commitment to sustainable growth and ESG performance as a global leader in the chemical industry.

Yash Lohia, Chairman of ESG Council at Indorama Ventures, said, "This award reflects our long-standing commitment to sustainability and creating opportunities for investors to take part in the positive transformation of the chemical industry. This award confirms that financial markets value our ambitious sustainability and ESG efforts towards a more sustainable future.”

IVL's THB 10 billion issuance sets a new benchmark as the largest SLB transaction in Thailand and the first offered to both institutions and high-net-worth investors. The financial instrument is linked to the company's sustainability goals of reducing GHG emissions intensity by 10% by 2025, increasing recycling of PET bale input to 750,000 tons per year by 2025, and achieving 25% renewable electricity consumption in 2030.

IVL appointed Bangkok Bank, Kasikorn Bank, Krungthai Bank, Siam Commercial Bank, and the Bangkok branch of HSBC as as arrangers and bookrunners for the green transaction.

Source:

Indorama Ventures Public Company Limited