In line with earlier forecasts, the Picanol Group realized a consolidated turnover of 559.98 million in 2013, representing an increase of 21% compared to revenues of 2012.
The Weaving Machines division experienced a record breaking year in 2013. Picanol had a strong start to 2013 based on the well-filled order book at the end of 2012. The high global demand for Picanol weaving machines in the first half of the year resulted in the production of a record number of weaving machines, whereby increased attention was paid to handling the various production peaks.
The second half of the year was characterized by an increasing pressure on volumes and margins, partly due to the strong euro and the slowdown in major textile markets.
The Industries division was able to continue the positive trend of recent years in the second half of 2013, by successfully focusing on its engineered casting solutions (Proferro) and controller competences (PsiControl).
The Picanol Group closed the year 2013 with a net profit of 73.17 million euros, compared to 55.30 million euros in 2012.
The Board of Directors will propose to the General Meeting on 16 April 2014 not to pay out a dividend.
The construction of a new test area and new training center for weaving machines in Ypres remains on schedule. According to the planning, construction in Ypres should be completed by the summer of 2014.
The Picanol Group expects a significant slowdown in the global weaving machine market for 2014. For the first half of 2014 the Picanol Group expects to realize a turnover below that of 2013, more in line with the first half of 2012.
Source:
http://www.fibre2fashion.com/news/textile-news/newsdetails.aspx?news_id=160263
