Business
Oerlikon reports third quarter 2024 results, highlights strong execution in a challenging market landscape
In the third quarter of 2024, Oerlikon reported a stable operational Group EBITDA margin, despite challenging market conditions, thanks to a focus on pricing, cost management, and efficiency across both divisions. Group order intake saw a 4% year-over-year decline at constant FX, attributed to temporary market softness in Surface Solutions, while orders in Polymer Processing Solutions showed signs of stabilization.
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Itema completes the acquisition of Schoch & Co Srl
Itema, leading global provider of advanced weaving solutions, has completed the acquisition of Schoch, historic company active in the production and supply of accessories for textile machines, such as reeds, drop wires and other components. The operation completes the integration process already started in 2019 with the acquisition of 80% of the company's shares and, following the agreement reached with the heirs of the founding family, Itema acquires the remaining 20% and becomes the sole shareholder of the Italian subsidiary Schoch & Co Srl.
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Rieter's new machine business will decline dramatically in 2024
The market environment in the reporting period was characterized by restrained investment in new machinery in almost all regions except China. Demand for consumables, wear & tear and spare parts weakened slightly due to the low spinning mill capacity utilization. The noticeable downturn in consumer sentiment had a further dampening effect throughout the entire textile value chain.
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Trützschler Nonwovens and Texnology to supply complete needle-punching line to O.R.V. Manufacturing S.p.A., Italy
Trützschler Nonwovens and Texnology S.r.l. have received an order from O.R.V. Manufacturing S.p.A. to deliver a new production line for needle-punched and thermobonded polyester media which, among others, will serve the huge market for filter media. The collaboration of the three family-owned companies will establish one of Europe’s biggest multi-purpose lines at the leading producer of non-woven fabrics and polyester wadding in Italy and Europe. The celebration on October 1st marked the start of the project.
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Monforts, Archroma and BW Converting’s Baldwin Technology partner to drive innovation in sustainable textile finishing
A collaboration that unites Monforts’ renowned dyeing and finishing equipment, BW Converting’s revolutionary Baldwin TexCoat G4™ digital spray technology and Archroma’s advanced chemistries towards sustainable solutions is charting the course for the future of sustainable textile finishing.
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Rieter places bond for a total of CHF 65 Million
Rieter has today placed a bond of CHF 65 million with a term of five years and a coupon of 3.5%. The net proceeds of the issue will be used for general corporate purposes. “The bond also extends the maturity profile of our debt financing and increases the diversification of the investor base as well as our strategic flexibility,” said Oliver Streuli, Rieter Group CFO.
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Autoneum presented corporate strategy and medium-term targets with planned revenue growth up to CHF 3 billion
At the Capital Markets Day held in Czechia, Autoneum presented its new “Level Up” strategy, outlining comprehensive initiatives for the Company’s future growth and revised medium-term targets. Autoneum targeted revenue growth up to CHF 3 billion and an EBIT margin of 6% to 8% over the business cycle. The event also featured presentations on sustainability and innovation, along with plant tours in Bor and Volduchy, offering valuable insights into Autoneum’s sustainable production processes.
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Business
Indorama Ventures concentrates yarn production in Italy to serve European textile industry
Indorama Ventures, one of the world’s leading petrochemical producers and a leading player in the polyester fibers market, concentrates large parts of its high-performance polyester filament yarn production for the European textile industry around 100km west to Milan, Italy.
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INDITEX reports a very strong operating performance in its interim report for the first half of financial year 2024
In 1HY2024, Inditex continued with a very robust operating performance due to the creativity of the teams and the strong execution of the fully integrated store and online business model.
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Lenzing Group reports further improvement in operating result
The Lenzing Group, a leading supplier of regenerated cellulose fibers for the textile and nonwovens industries, reports a gradual improvement in its business performance in the first half of 2024. As expected, the recovery of the markets relevant to Lenzing proved to be sluggish. Although fiber sales volumes increased, fiber prices remained at a low level. The cost of raw materials and energy remained high. At the same time, logistics costs rose significantly in the reporting period.
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CARBIOS and FCC Environment announce joint project to establish UK-based PET biorecycling facility
CARBIOS, (Euronext Growth Paris : ALCRB), a pioneer in the development and industrialization of biological technologies to reinvent the life cycle of plastic and textiles, and FCC Environment UK (“FCC”), one of the UK’s leading recycling and waste management companies, have signed a Letter of Intent (LOI) to jointly study the implementation of a UK-based plant using CARBIOS’ PET biorecycling licensed technology.
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Hugo Boss focuses on cost efficiency amid challenging market conditions
Despite a challenging market environment, Hugo Boss reported continued revenue growth in the first half of 2024, with a 3% increase overall, although Q2 saw a slight decline of 1%. The company is enhancing its market share for its flagship brands, BOSS and HUGO, through strategic initiatives and a stronger focus on cost efficiency.
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Autoneum delivers significant increase in operating result
Autoneum significantly increased its revenue consolidated in Swiss francs by CHF 109.8 million to CHF 1 212.3 million compared to the prior-year period, supported by inorganic growth. In a slightly declining market, the Company succeeded in increasing its EBIT margin excluding special effects by 1.3 percentage points to 5.4%. A solid net result of CHF 36.1 million was generated in the first half-year of 2024. Due to the positive margin development, the Company now expects an EBIT margin of 5.0% to 5.5% for the current financial year (previously 4.5% to 5.5%).
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