Business
Lenzing suspends 2022 guidance due to limited market visibility and high volatility of energy and raw material markets
The Lenzing Group, the world’s leading supplier of wood-based specialty fibers for the textile and nonwovens industries, suspended its guidance for the development of earnings in the 2022 financial year in view of the drastic deterioration of the market environment in the current quarter. The further course of the 2022 financial year can only be estimated to a limited extent due to the extremely low visibility on the demand side and the high volatility of energy and raw material costs.
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Toray Industries, Inc., announced today that subsidiaries Toray Textiles Central Europe s.r.o. (TTCE) and Toray Advanced Materials Korea Inc. (TAK) have set up new facilities in the Czech Republic to expand the Airlite™ automotive interior sound acoustic Insulation business in Europe. This material enhances passenger comfort by suppressing noise from driving, vibrations, and from outside vehicles. This new facility at TTCE’s facility in the Czech Republic will go on line in October this year, with an annual production capacity of 1,200 metric tons.
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In 1H2022, Inditex’s fully integrated model had a very strong operating performance. Sales, EBITDA and net income reached historic highs.
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adidas announced today that the company 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.
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Inditex’s shareholders today approved the company’s 2021 financial statements and a total dividend of €0.93 per share at its Annual General Meeting at its headquarters in Arteixo. They also ratified the appointment of Marta Ortega Pérez as Inditex's chairperson and of Óscar García Maceiras as its CEO, effective from 1 April 2022 and 30 November 2021, respectively.
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Zegna Group reports strong First Half 2022 Results
Ermenegildo Zegna N.V. (NYSE:ZGN) (“Zegna Group,” “the Group,” or “the Company”) today announced revenues of €729.0 million for the six months ended June 30, 2022, up 21%2 year-on-year (“y-o-y”), and profit of €21.0 million. Adjusted EBIT for the period was at €82.7 million, with an Adjusted EBIT margin of 11.3% (+20bps y-o-y).
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Kimberly-Clark announces second quarter 2022 results
"I'm pleased to close the first half of the year with another quarter of excellent execution by our teams who delivered strong organic sales growth, with increases in all our segments. Our growth strategy is working," said Mike Hsu, Chairman and CEO, Kimberly-Clark. "Our results also reflect ongoing market volatility and significant input cost inflation. We continue to be thoughtful with our response to inflation, focusing on providing value to our consumers while leveraging price and cost discipline to mitigate macro headwinds for margin improvement over time."
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Business
Well positioned for e-mobility and sustainability, but low production volumes and inflation impact profitability and the net result
Lower volumes due to geopolitical developments and the sharp rise in inflation impacted the result in the first half of 2022. In a slightly declining market, Autoneum increased revenue in local currencies by 0.5%. At CHF 888.7 million, revenue in Swiss francs reached the previous year’s level. Despite the challenging environment, Autoneum achieved a positive operating result of CHF 6.4 million (EBIT margin: 0.7%). The net result decreased to CHF –12.8 million.
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NIEN HSING buys the first GREENDYE unit from KARL MAYER // environmental pioneer relies on GREENDYE
Jeans are the evergreens of the clothing industry, but are increasingly criticized for their negative impact on the environment. Manufacturers are looking for efficient as well as green production technologies for the indigo fabric - and they have found them at KARL MAYER.
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An exciting Loepfe and Almer Technologies partnership comes into view
Loepfe is discovering new innovations with the Swiss start-up firm Almer Technologies. Almer is rethinking communication and introducing augmented reality remote assistance to businesses.
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H&M decides to buy back own shares for SEK 3 billion
The board of directors of H & M Hennes & Mauritz AB has decided to utilise the authorisation granted by the 2022 annual general meeting to acquire the company’s own B shares in order to transfer capital to the shareholders and adjust the company’s capital structure.
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Alberto Paccanelli re-elected as President of EURATEX
Italian textile entrepreneur, Alberto Paccanelli, has been re-elected as President of EURATEX during its General Assembly on 17 June; he will thus extend his mandate with 2 more years, until June 2024. Paccanelli is CEO of the Martinelli Ginetto Group, active in the high-end home textiles. He is also a Board member of Sistema Moda Italia and Confindustria Bergamo.
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Sales success of a solution for more efficiency in warp preparation
Lotustex Textile invests in KARL MAYER's first LINK-MATIC® system for automatic batch change on PRODYE®-S slasher indigo dye range
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