Business
Pablo Isla underscores “the strength of Inditex’s integrated, digital and sustainable model, thanks to the work and commitment of every employee”
At today’s Annual General Meeting at its headquarters in Arteixo, Inditex’s shareholders ratified the Group’s financial results for fiscal year 2020, a period in which revenue reached €20.4 billion despite the fact that all of its stores were forced to shut at some point on account of the COVID-19 pandemic. Online sales via the global integrated platform increased by 77% in local currencies to €6.6 billion, making Inditex a global leader in online fashion retailing.
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The European Investment Bank (EIB) has signed a loan agreement of up to SEK 311 million with Renewcell from Sweden. The loan was extended under “InnovFin – EU Finance for Innovators”, with the financial backing of the European Union under Horizon 2020, the EU’s programme for research and innovation. The full effectiveness of the agreement is contingent upon approval of the terms at an extraordinary general meeting by the shareholders of Renewcell. A summons to the extraordinary general meeting will be communicated at a later time.
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RadiciGroup – an Italian multinational founded and headquartered in Bergamo and leading producer of chemicals, engineering polymers, synthetic fibres and nonwovens, with 3,000 employees in 15 countries worldwide – closed its 2020 financial year with consolidated sales revenue of EUR 1,019 million, curbing the decrease compared to 2019 to -6.7%. On the other hand, EBITDA reached EUR 173 million, up 4.4% compared to the prior year, and net income, net of amortization and depreciation, rose to EUR 87 million (+8.1% over 2019).
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CADICA GROUP has achieved a further very important step in its vision to create a productive pole operating at 360° in the development, production and distribution of fashion accessories, expanding its range of products and strengthening specific types, such as the managements of “variable data” on merchandise labels and anti-counterfeiting solutions.
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Inditex Group reported sales growth of 50% in the first quarter of 2021 (1 February to 30 April) (56% in local currencies) to €4.9 billion. Online sales in local currencies grew by 67%
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SGL Carbon SE publishes preliminary sales and earnings figures for the first half of the year and raises forecast for 2021
Based on the encouraging business performance in the first half of 2021 and the transformation successes, SGL Carbon expects strong Group results for the first six months of 2021 and raises its guidance for fiscal year 2021. The company expects to exceed the upper end of the stated range of its Group EBITDA pre1 guidance (earnings before interest, taxes and depreciation adjusted by non-recurring items and one-time effects) for fiscal year 2021 of EUR 100 to 120 million and raises the EBITDA pre guidance for 2021 to EUR 130 –140 million.
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Digital trader spotted in China–Middle East & North Africa International Trade Digital Expo
Driven by the needs of international trade, it has become a trend to hold exhibitions online. Organized by the China Council for the Promotion of International Trade (CCPIT), China-Middle East & North Africa International Trade Digital Expo 2021 had its grand opening through the digital platform GTW-VE on 15th June 2021. The Expo lasted for 10 days in total and attracted 10,000+ overseas visitors and 10,000+ business enterprises.
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Rieter updates outlook for first half year 2021
Order intake in the first half of 2021 of around CHF 975 million
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adidas launches new share buyback program
Through its new strategy ‘Own the Game’ adidas expects to drive significant top-line growth and strong bottom-line expansion until 2025. As a result, the company will generate substantial cumulative free cash flow over the next five years. adidas plans to share the majority of this – between € 8 billion and € 9 billion – with its shareholders through regular dividend pay-outs in a range of between 30% and 50% of net income from continuing operations, complemented with share buybacks.
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VF Corporation completes the sale of the occupational portion of its work segment
VF Corporation (NYSE: VFC), a global leader in branded lifestyle apparel, footwear and accessories, today announced that it has completed the sale of the occupational portion of its Work segment to a subsidiary of Redwood Capital Investments, LLC, a diversified holding company.
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H & M Hennes & Mauritz six-month report
“With our much-appreciated collections, our ongoing transformation and the fact that markets are gradually being opened up, our recovery is strong. Online sales have continued to develop very well even as the stores have opened, which shows that customers appreciate the collections and being able to shop via their preferred channel,” says Helena Helmersson, CEO.
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Pulcra Chemicals achieves first acquisition with Devan
Pulcra Chemicals, with headquarters in Geretsried (Germany) has just announced its first acquisition in its history by acquiring fellow-industry player Devan. Devan, with origins since 1977 and Belgian headquarters, is since 2013 owned by Pentahold (a Belgian private equity fund). Devan is known from its antimicrobial range BI-OME, its large sustainable track record with a.o. probiotics solutions, a wide range of recently introduced bio-based textile finishes and a long standing in Thermoregulation and Flame Retardants. Devan has offices in the UK, Portugal, the US and a team in Shanghai.
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VF Corporation’s new incubator launches innovation competition
VF Corporation (NYSE: VFC), a global leader in branded lifestyle apparel, footwear, and accessories, today announced that its Venture Foundry incubator is launching an Entrepreneur In Residence (EIR) Innovation Challenge to identify and validate high-growth opportunities that furthers VF’s purpose of powering sustainable and active lifestyles for the betterment of people and the planet. To apply and learn more about the EIR Innovation Challenge, please visit: https://bit.ly/2StMWYt.
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